Myers Industries, Inc. (MYE) Holdings Lowered by Nationwide Fund Advisors
Nationwide Fund Advisors trimmed its stake in shares of Myers Industries, Inc. (NYSE:MYE) by 16.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,349 shares of the industrial products company’s stock after selling 2,390 shares during the quarter. Nationwide Fund Advisors’ holdings in Myers Industries were worth $222,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in MYE. KBC Group NV raised its position in shares of Myers Industries by 183.5% during the 2nd quarter. KBC Group NV now owns 5,695 shares of the industrial products company’s stock worth $102,000 after buying an additional 3,686 shares in the last quarter. Thompson Davis & CO. Inc. raised its position in shares of Myers Industries by 44.4% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 5,656 shares of the industrial products company’s stock worth $102,000 after buying an additional 1,738 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Myers Industries by 99.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,637 shares of the industrial products company’s stock worth $155,000 after buying an additional 4,315 shares in the last quarter. UBS Asset Management Americas Inc. bought a new stake in shares of Myers Industries during the 1st quarter worth about $187,000. Finally, Arizona State Retirement System raised its position in shares of Myers Industries by 0.9% during the 2nd quarter. Arizona State Retirement System now owns 11,486 shares of the industrial products company’s stock worth $206,000 after buying an additional 100 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.
Myers Industries, Inc. (MYE) opened at $20.75 on Tuesday. The stock has a market cap of $633.11, a P/E ratio of 50.73, a PEG ratio of 14.15 and a beta of 1.78. The company has a quick ratio of 1.06, a current ratio of 1.56 and a debt-to-equity ratio of 1.62. Myers Industries, Inc. has a 52 week low of $13.20 and a 52 week high of $22.65.
Myers Industries (NYSE:MYE) last announced its quarterly earnings data on Tuesday, November 7th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.11. The company had revenue of $144.10 million for the quarter, compared to analysts’ expectations of $138.93 million. Myers Industries had a net margin of 1.24% and a return on equity of 12.93%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.04 EPS. research analysts expect that Myers Industries, Inc. will post 0.49 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st will be given a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Thursday, November 30th. Myers Industries’s dividend payout ratio (DPR) is currently 234.78%.
Several brokerages have recently issued reports on MYE. KeyCorp reaffirmed a “sell” rating and issued a $15.00 price objective on shares of Myers Industries in a research note on Tuesday, November 7th. Zacks Investment Research cut shares of Myers Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Finally, BidaskClub cut shares of Myers Industries from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. Myers Industries has an average rating of “Hold” and an average target price of $17.50.
About Myers Industries
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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