Teacher Retirement System of Texas Sells 1,239 Shares of Myers Industries, Inc. (NYSE:MYE)

Teacher Retirement System of Texas lessened its holdings in shares of Myers Industries, Inc. (NYSE:MYE) by 3.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,069 shares of the industrial products company’s stock after selling 1,239 shares during the quarter. Teacher Retirement System of Texas’ holdings in Myers Industries were worth $646,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MYE. Pacer Advisors Inc. acquired a new position in shares of Myers Industries during the 4th quarter worth $16,196,000. LSV Asset Management increased its position in Myers Industries by 18.2% during the third quarter. LSV Asset Management now owns 450,526 shares of the industrial products company’s stock worth $8,078,000 after buying an additional 69,231 shares during the last quarter. Illinois Municipal Retirement Fund bought a new position in Myers Industries during the third quarter valued at about $389,000. Charles Schwab Investment Management Inc. lifted its position in shares of Myers Industries by 3.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 463,843 shares of the industrial products company’s stock worth $8,317,000 after buying an additional 16,557 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in shares of Myers Industries during the 4th quarter worth about $1,480,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MYE shares. KeyCorp raised their price objective on 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 lowered shares of Myers Industries from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th.

Myers Industries Stock Down 0.5 %

Myers Industries stock opened at $15.35 on Friday. The firm has a market cap of $570.71 million, a price-to-earnings ratio of 14.48 and a beta of 1.31. The firm has a fifty day moving average price of $20.59 and a two-hundred day moving average price of $19.46. Myers Industries, Inc. has a fifty-two week low of $15.27 and a fifty-two week high of $23.63. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.75 and a quick ratio of 1.10.

Myers Industries (NYSE:MYE) last posted its quarterly earnings data on Tuesday, March 5th. The industrial products company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.03. The business had revenue of $191.08 million during the quarter, compared to analysts’ expectations of $191.60 million. Myers Industries had a return on equity of 15.99% and a net margin of 4.90%. During the same quarter in the previous year, the firm earned $0.32 EPS. As a group, analysts forecast that Myers Industries, Inc. will post 1.38 earnings per share 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 paid a $0.135 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.54 annualized dividend and a dividend yield of 3.52%. Myers Industries’s payout ratio is 50.94%.

Myers Industries 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.