Weiss Asset Management LP Trims Stock Position in Myers Industries, Inc. (NYSE:MYE)

Weiss Asset Management LP decreased its position in shares of Myers Industries, Inc. (NYSE:MYE) by 70.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 51,150 shares of the industrial products company’s stock after selling 123,481 shares during the quarter. Weiss Asset Management LP’s holdings in Myers Industries were worth $707,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quantbot Technologies LP boosted its stake in Myers Industries by 8.0% during the 3rd quarter. Quantbot Technologies LP now owns 11,427 shares of the industrial products company’s stock worth $158,000 after purchasing an additional 846 shares during the period. nVerses Capital LLC boosted its stake in shares of Myers Industries by 57.9% during the third quarter. nVerses Capital LLC now owns 3,000 shares of the industrial products company’s stock worth $41,000 after buying an additional 1,100 shares during the period. Foundry Partners LLC grew its holdings in shares of Myers Industries by 1.0% during the third quarter. Foundry Partners LLC now owns 127,508 shares of the industrial products company’s stock worth $1,762,000 after buying an additional 1,220 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Myers Industries by 10.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,959 shares of the industrial products company’s stock valued at $200,000 after acquiring an additional 1,357 shares during the period. Finally, Point72 DIFC Ltd purchased a new stake in Myers Industries during the 3rd quarter valued at approximately $28,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Wall Street Analyst Weigh In

Separately, KeyCorp lowered Myers Industries from an “overweight” rating to a “sector weight” rating in a report on Wednesday, November 6th.

Myers Industries Stock Down 0.9 %

MYE stock opened at $11.85 on Monday. The stock has a market capitalization of $441.53 million, a PE ratio of 28.21 and a beta of 1.22. The company has a fifty day moving average of $12.18 and a 200-day moving average of $13.60. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.11 and a current ratio of 1.80. Myers Industries, Inc. has a one year low of $10.35 and a one year high of $23.63.

Myers Industries (NYSE:MYE) last posted its quarterly earnings results on Monday, November 4th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.04). Myers Industries had a return on equity of 14.75% and a net margin of 1.88%. The firm had revenue of $205.07 million for the quarter. During the same period in the prior year, the company earned $0.38 earnings per share. As a group, analysts expect that Myers Industries, Inc. will post 0.95 EPS for the current year.

Myers Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 3rd will be paid a $0.135 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.56%. Myers Industries’s dividend payout ratio (DPR) is presently 128.57%.

Myers Industries Company Profile

Myers Industries, Inc engages in distribution of tire service supplies in Ohio. It operates through two segments, The Material Handling and Distribution. The Material Handling segment offers pallets, small parts bins, bulk shipping containers, and OEM parts, as well as storage and organization, and custom plastic products; and injection molded, rotationally molded or blow molded products, consumer fuel containers and tanks for water, fuel, and waste handling.