North Star Investment Management Corp. Boosts Stake in Myers Industries, Inc. (NYSE:MYE)

North Star Investment Management Corp. boosted its position in Myers Industries, Inc. (NYSE:MYE) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 157,116 shares of the industrial products company’s stock after buying an additional 654 shares during the period. North Star Investment Management Corp. owned about 0.52% of Myers Industries worth $2,820,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in MYE. Gabelli Funds LLC increased its stake in 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 valued at $24,581,000 after buying an additional 12,464 shares in the last quarter. Vanguard Group Inc. increased its stake in Myers Industries by 4.5% in the first quarter. Vanguard Group Inc. now owns 1,400,774 shares of the industrial products company’s stock valued at $22,202,000 after buying an additional 59,870 shares in the last quarter. Teton Advisors Inc. increased its stake in Myers Industries by 0.8% in the first quarter. Teton Advisors Inc. now owns 612,900 shares of the industrial products company’s stock valued at $9,714,000 after buying an additional 5,000 shares in the last quarter. State Street Corp increased its stake in Myers Industries by 4.7% in the fourth quarter. State Street Corp now owns 498,762 shares of the industrial products company’s stock valued at $7,130,000 after buying an additional 22,327 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Myers Industries by 5.6% in the first quarter. Bank of New York Mellon Corp now owns 462,822 shares of the industrial products company’s stock valued at $7,335,000 after buying an additional 24,697 shares in the last quarter. Hedge funds and other institutional investors own 84.51% of the company’s stock.

Myers Industries, Inc. (NYSE:MYE) traded up 1.71% during midday trading on Friday, reaching $17.80. 52,013 shares of the company’s stock traded hands. The company’s 50-day moving average price is $18.32 and its 200 day moving average price is $16.06. The stock has a market capitalization of $535.41 million, a price-to-earnings ratio of 72.95 and a beta of 1.77. Myers Industries, Inc. has a 52 week low of $11.35 and a 52 week high of $19.45.

Myers Industries (NYSE:MYE) last released its quarterly earnings data on Monday, May 8th. The industrial products company reported $0.13 EPS for the quarter, hitting analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $143.60 million. During the same quarter in the prior year, the company posted $0.21 earnings per share. The firm’s revenue was down 6.3% on a year-over-year basis. On average, equities research analysts expect that Myers Industries, Inc. will post $0.46 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Shareholders of record on Friday, June 16th were issued a dividend of $0.135 per share. The ex-dividend date of this dividend was Wednesday, June 14th. This represents a $0.54 annualized dividend and a yield of 3.09%. Myers Industries’s dividend payout ratio (DPR) is presently 225.00%.

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Several equities research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Myers Industries from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. TheStreet upgraded shares of Myers Industries from a “c” rating to a “b-” rating in a research note on Monday, May 8th.

In related news, Director Jane Scaccetti purchased 3,000 shares of the stock in a transaction on Monday, May 15th. The shares were bought at an average price of $17.20 per share, for a total transaction of $51,600.00. Following the completion of the acquisition, the director now directly owns 12,090 shares in the company, valued at approximately $207,948. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.75% of the company’s stock.

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.