BlackRock Inc. decreased its holdings in shares of Myers Industries, Inc. (NYSE:MYE) by 2.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,733,171 shares of the industrial products company’s stock after selling 121,387 shares during the period. BlackRock Inc. owned about 15.85% of Myers Industries worth $120,395,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Captrust Financial Advisors lifted its stake in Myers Industries by 4,950.0% during the first quarter. Captrust Financial Advisors now owns 3,535 shares of the industrial products company’s stock worth $70,000 after purchasing an additional 3,465 shares during the period. Globeflex Capital L P bought a new position in shares of Myers Industries in the first quarter valued at approximately $247,000. BNP Paribas Arbitrage SA raised its stake in shares of Myers Industries by 73.9% in the first quarter. BNP Paribas Arbitrage SA now owns 14,033 shares of the industrial products company’s stock valued at $277,000 after acquiring an additional 5,963 shares during the last quarter. Modera Wealth Management LLC bought a new position in shares of Myers Industries in the second quarter valued at approximately $353,000. Finally, Zebra Capital Management LLC bought a new position in shares of Myers Industries in the first quarter valued at approximately $381,000. Hedge funds and other institutional investors own 88.59% of the company’s stock.
In other Myers Industries news, CEO Michael Mcgaugh bought 8,000 shares of the stock in a transaction on Friday, August 13th. The stock was purchased at an average price of $21.97 per share, with a total value of $175,760.00. Following the acquisition, the chief executive officer now owns 71,569 shares of the company’s stock, valued at $1,572,370.93. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William A. Foley bought 1,100 shares of the stock in a transaction on Wednesday, August 25th. The shares were acquired at an average cost of $22.85 per share, with a total value of $25,135.00. Following the acquisition, the director now directly owns 31,493 shares in the company, valued at approximately $719,615.05. The disclosure for this purchase can be found here. Insiders purchased a total of 12,100 shares of company stock valued at $265,990 in the last 90 days. 0.83% of the stock is currently owned by corporate insiders.
MYE stock opened at $20.09 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.58 and a quick ratio of 0.96. The company has a 50 day moving average price of $21.26 and a 200 day moving average price of $21.24. Myers Industries, Inc. has a fifty-two week low of $13.68 and a fifty-two week high of $23.98. The stock has a market capitalization of $726.74 million, a PE ratio of 24.50 and a beta of 1.47.
Myers Industries (NYSE:MYE) last posted its quarterly earnings data on Thursday, August 5th. The industrial products company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.05. Myers Industries had a net margin of 4.76% and a return on equity of 17.04%. The firm had revenue of $187.37 million during the quarter, compared to analysts’ expectations of $173.70 million. As a group, equities analysts expect that Myers Industries, Inc. will post 1.05 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 4th. Investors of record on Monday, September 13th were given a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend was Friday, September 10th. Myers Industries’s dividend payout ratio (DPR) is presently 63.53%.
About Myers Industries
Myers Industries, Inc engages in the manufacture and trade of polymer products. It operates through the Material Handling and Distribution business segments. The Material Handling segment designs, manufactures, and markets a variety of plastic and metal products. The Distribution segment offers tools, equipment, and supplies used for tire, wheel, and under vehicle service on passenger, heavy truck, and off-road vehicles.
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