Myers Industries, Inc. (MYE) Shares Sold by California Public Employees Retirement System
California Public Employees Retirement System cut its stake in shares of Myers Industries, Inc. (NYSE:MYE) by 10.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,600 shares of the industrial products company’s stock after selling 6,000 shares during the quarter. California Public Employees Retirement System owned approximately 0.16% of Myers Industries worth $890,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Myers Industries by 4.9% during the second quarter. Vanguard Group Inc. now owns 1,469,679 shares of the industrial products company’s stock worth $26,381,000 after acquiring an additional 68,905 shares in the last quarter. Northern Trust Corp boosted its stake in Myers Industries by 3.9% during the second quarter. Northern Trust Corp now owns 996,343 shares of the industrial products company’s stock worth $17,885,000 after acquiring an additional 36,983 shares in the last quarter. Rafferty Asset Management LLC bought a new position in Myers Industries during the second quarter worth $5,301,000. Acrospire Investment Management LLC bought a new position in Myers Industries during the second quarter worth $136,000. Finally, Thrivent Financial For Lutherans boosted its stake in Myers Industries by 2.2% during the second quarter. Thrivent Financial For Lutherans now owns 291,630 shares of the industrial products company’s stock worth $5,235,000 after acquiring an additional 6,260 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently issued reports on MYE. KeyCorp reissued a “sell” rating and set a $15.00 target price on shares of Myers Industries in a research note on Tuesday, November 7th. Zacks Investment Research lowered shares of Myers Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Finally, BidaskClub lowered 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 issued a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $17.50.
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Myers Industries, Inc. (MYE) opened at $20.55 on Wednesday. Myers Industries, Inc. has a 12 month low of $13.20 and a 12 month high of $22.65. The firm has a market cap of $631.59, a price-to-earnings ratio of 50.61, a price-to-earnings-growth ratio of 14.12 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 (NYSE:MYE) last released its quarterly earnings data on Tuesday, November 7th. The industrial products company reported $0.11 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.11. Myers Industries had a net margin of 1.24% and a return on equity of 12.93%. The firm had revenue of $144.10 million for the quarter, compared to analyst estimates of $138.93 million. During the same period last year, the firm earned $0.04 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. equities research analysts anticipate that Myers Industries, Inc. will post 0.49 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date is Thursday, November 30th. Myers Industries’s dividend payout ratio (DPR) is 234.78%.
Myers Industries 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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