Parametric Portfolio Associates LLC lowered its position in shares of Myers Industries, Inc. (NYSE:MYE) by 8.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 68,290 shares of the industrial products company’s stock after selling 5,960 shares during the period. Parametric Portfolio Associates LLC owned 0.23% of Myers Industries worth $1,082,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of MYE. Ameriprise Financial Inc. increased its stake in shares of Myers Industries by 5.3% in the first quarter. Ameriprise Financial Inc. now owns 115,549 shares of the industrial products company’s stock worth $1,832,000 after buying an additional 5,780 shares during the period. Sei Investments Co. acquired a new stake in shares of Myers Industries during the first quarter worth about $194,000. Gabelli Funds LLC increased its stake in shares of Myers Industries by 0.8% in the first quarter. Gabelli Funds LLC now owns 1,550,876 shares of the industrial products company’s stock worth $24,581,000 after buying an additional 12,464 shares during the period. Teton Advisors Inc. increased its stake in shares of Myers Industries by 0.8% in the first quarter. Teton Advisors Inc. now owns 612,900 shares of the industrial products company’s stock worth $9,714,000 after buying an additional 5,000 shares during the period. Finally, UBS Asset Management Americas Inc. acquired a new stake in shares of Myers Industries during the first quarter worth about $187,000. Hedge funds and other institutional investors own 84.52% of the company’s stock.
Shares of Myers Industries, Inc. (NYSE:MYE) opened at 18.10 on Friday. The company has a market cap of $544.43 million, a P/E ratio of 74.18 and a beta of 1.77. Myers Industries, Inc. has a 12 month low of $11.35 and a 12 month high of $19.45. The stock’s 50 day moving average price is $18.27 and its 200-day moving average price is $15.94.
Myers Industries (NYSE:MYE) last released its earnings results on Monday, May 8th. The industrial products company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. Myers Industries had a return on equity of 11.57% and a net margin of 1.38%. The firm had revenue of $141.70 million during the quarter, compared to analysts’ expectations of $143.60 million. During the same quarter last year, the business posted $0.21 earnings per share. The firm’s revenue was down 6.3% on a year-over-year basis. Equities research analysts expect that Myers Industries, Inc. will post $0.46 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Friday, June 16th were paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date was Wednesday, June 14th. Myers Industries’s payout ratio is presently 225.00%.
ILLEGAL ACTIVITY WARNING: “Myers Industries, Inc. (MYE) Shares Sold by Parametric Portfolio Associates LLC” was first posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this piece of content on another publication, it was copied illegally and reposted in violation of United States and international copyright & trademark laws. The legal version of this piece of content can be read at https://stocknewstimes.com/2017/07/23/myers-industries-inc-mye-shares-sold-by-parametric-portfolio-associates-llc.html.
A number of brokerages have recently issued reports on MYE. Zacks Investment Research downgraded Myers Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. TheStreet upgraded Myers Industries from a “c” rating to a “b-” rating in a research report on Monday, May 8th.
In other news, Director Jane Scaccetti purchased 3,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was bought at an average cost of $17.20 per share, with a total value of $51,600.00. Following the completion of the purchase, the director now owns 12,090 shares in the company, valued at $207,948. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.75% of the stock is currently owned by corporate insiders.
About Myers Industries
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.
Receive News & Ratings for Myers Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Myers Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
