Yousif Capital Management LLC Reduces Position in Myers Industries, Inc. (NYSE:MYE)

Yousif Capital Management LLC lessened its holdings in shares of Myers Industries, Inc. (NYSE:MYE) by 14.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,227 shares of the industrial products company’s stock after selling 3,015 shares during the period. Yousif Capital Management LLC’s holdings in Myers Industries were worth $356,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Quantbot Technologies LP purchased a new stake in Myers Industries during the 3rd quarter valued at about $87,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Myers Industries by 28.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,478 shares of the industrial products company’s stock valued at $134,000 after buying an additional 1,648 shares during the period. Strs Ohio purchased a new stake in shares of Myers Industries in the 3rd quarter valued at approximately $234,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Myers Industries in the 3rd quarter valued at approximately $262,000. Finally, Jump Financial LLC purchased a new stake in shares of Myers Industries in the 3rd quarter valued at approximately $294,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Myers Industries Stock Performance

Shares of MYE stock opened at $22.94 on Tuesday. The firm’s 50 day moving average price is $21.69 and its 200-day moving average price is $19.54. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.00 and a current ratio of 1.55. Myers Industries, Inc. has a one year low of $15.65 and a one year high of $23.63. The firm has a market cap of $847.40 million, a P/E ratio of 17.38 and a beta of 1.31.

Myers Industries (NYSE:MYE) last issued its quarterly earnings data on Tuesday, March 5th. The industrial products company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.26 by $0.03. Myers Industries had a net margin of 6.01% and a return on equity of 18.55%. The firm had revenue of $191.08 million for the quarter, compared to analyst estimates of $191.60 million. During the same period in the prior year, the business posted $0.32 EPS. As a group, equities research analysts predict that Myers Industries, Inc. will post 1.38 EPS for the current year.

Myers Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Saturday, March 16th were issued a $0.135 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.54 annualized dividend and a dividend yield of 2.35%. Myers Industries’s dividend payout ratio is currently 40.91%.

Analysts Set New Price Targets

Several research firms have recently weighed in on MYE. KeyCorp increased their price target on shares of Myers Industries from $22.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. StockNews.com raised shares of Myers Industries from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 16th.

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.