California Public Employees Retirement System increased its position in Myers Industries, Inc. (NYSE:MYE) by 5.3% during the first quarter, Holdings Channel reports. The firm owned 55,600 shares of the industrial products company’s stock after buying an additional 2,800 shares during the period. California Public Employees Retirement System’s holdings in Myers Industries were worth $881,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Arizona State Retirement System boosted its stake in shares of Myers Industries by 0.9% in the first quarter. Arizona State Retirement System now owns 11,386 shares of the industrial products company’s stock worth $180,000 after buying an additional 100 shares during the period. Comerica Bank boosted its stake in shares of Myers Industries by 4.3% in the first quarter. Comerica Bank now owns 24,085 shares of the industrial products company’s stock worth $401,000 after buying an additional 1,003 shares during the period. State of Tennessee Treasury Department boosted its stake in shares of Myers Industries by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 22,555 shares of the industrial products company’s stock worth $358,000 after buying an additional 3,404 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Myers Industries by 20.7% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 29,192 shares of the industrial products company’s stock worth $463,000 after buying an additional 4,997 shares during the period. Finally, Teton Advisors Inc. boosted its stake in shares of Myers Industries by 0.8% in the first quarter. Teton Advisors Inc. now owns 612,900 shares of the industrial products company’s stock worth $9,714,000 after buying an additional 5,000 shares during the period. 83.05% of the stock is currently owned by institutional investors and hedge funds.

Myers Industries, Inc. (MYE) traded down 1.11% during mid-day trading on Tuesday, hitting $17.80. The company’s stock had a trading volume of 10,864 shares. The company’s 50 day moving average is $17.90 and its 200-day moving average is $16.38. Myers Industries, Inc. has a 52-week low of $11.35 and a 52-week high of $19.45. The stock has a market cap of $538.54 million, a P/E ratio of 133.83 and a beta of 1.76.

Myers Industries (NYSE:MYE) last announced its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.02. Myers Industries had a return on equity of 8.56% and a net margin of 1.41%. The company had revenue of $142.30 million for the quarter, compared to analysts’ expectations of $142.95 million. During the same quarter in the prior year, the firm earned $0.21 earnings per share. Myers Industries’s revenue was down 1.2% compared to the same quarter last year. On average, equities analysts predict that Myers Industries, Inc. will post $0.51 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Friday, September 8th will be paid a $0.135 dividend. The ex-dividend date is Thursday, September 7th. This represents a $0.54 annualized dividend and a yield of 3.00%. Myers Industries’s dividend payout ratio (DPR) is currently 415.38%.

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Several research firms have weighed in on MYE. Zacks Investment Research raised Myers Industries from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Thursday, May 11th. KeyCorp reaffirmed a “sell” rating on shares of Myers Industries in a report on Tuesday, August 1st. BidaskClub cut Myers Industries from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, TheStreet raised Myers Industries from a “c” rating to a “b-” rating in a report on Monday, May 8th. Two investment analysts have rated the stock with a sell rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $16.50.

In other Myers Industries news, major shareholder Gamco Investors, Inc. Et Al sold 3,000 shares of the stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $18.44, for a total transaction of $55,320.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.75% of the stock is owned by corporate insiders.

Myers Industries Company Profile

Myers Industries, Inc is an international manufacturing and distribution company. The Company operates through two segments: Material Handling and Distribution. As of December 31, 2016, the Company operated 15 manufacturing facilities, 20 sales offices, four distribution centers and three distribution branches located throughout North, Central and South America.

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Institutional Ownership by Quarter for Myers Industries (NYSE:MYE)

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