Centiva Capital LP Cuts Stake in Myers Industries, Inc. (NYSE:MYE)

Centiva Capital LP cut its stake in Myers Industries, Inc. (NYSE:MYE) by 11.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,910 shares of the industrial products company’s stock after selling 2,314 shares during the quarter. Centiva Capital LP’s holdings in Myers Industries were worth $248,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MYE. Quantbot Technologies LP raised its stake in Myers Industries by 8.0% in the 3rd quarter. Quantbot Technologies LP now owns 11,427 shares of the industrial products company’s stock valued at $158,000 after purchasing an additional 846 shares during the last quarter. nVerses Capital LLC boosted its position in 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 acquiring an additional 1,100 shares during the last quarter. Foundry Partners LLC raised its holdings in Myers Industries by 1.0% in the 3rd quarter. Foundry Partners LLC now owns 127,508 shares of the industrial products company’s stock valued at $1,762,000 after acquiring an additional 1,220 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings 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 last quarter. Finally, Tieton Capital Management LLC lifted its stake in Myers Industries by 1.3% in the 2nd quarter. Tieton Capital Management LLC now owns 186,925 shares of the industrial products company’s stock worth $2,501,000 after purchasing an additional 2,380 shares in the last quarter. 90.82% of the stock is currently owned by institutional investors and hedge funds.

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.

Insiders Place Their Bets

In other Myers Industries news, CEO Dave Basque bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were purchased at an average price of $12.41 per share, with a total value of $62,050.00. Following the completion of the acquisition, the chief executive officer now directly owns 39,152 shares of the company’s stock, valued at $485,876.32. This represents a 14.64 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired a total of 19,500 shares of company stock worth $232,575 over the last 90 days. Corporate insiders own 1.40% of the company’s stock.

Myers Industries Stock Up 3.7 %

Shares of NYSE:MYE opened at $12.53 on Thursday. The company has a market capitalization of $466.87 million, a price-to-earnings ratio of 29.83 and a beta of 1.22. Myers Industries, Inc. has a 12-month low of $10.35 and a 12-month high of $23.63. The business has a 50-day moving average price of $12.10 and a 200 day moving average price of $13.54. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 1.36.

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

Myers Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 3rd will be paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend is Tuesday, December 3rd. Myers Industries’s payout ratio is currently 128.57%.

About Myers Industries

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.