Parametric Portfolio Associates LLC Has $1.08 Million Position in Myers Industries, Inc. (MYE)

Parametric Portfolio Associates LLC decreased its position in Myers Industries, Inc. (NYSE:MYE) by 8.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MYE. Hartford Investment Management Co. acquired a new position in Myers Industries during the first quarter worth approximately $167,000. UBS Asset Management Americas Inc. acquired a new position in Myers Industries during the first quarter worth approximately $187,000. Sei Investments Co. acquired a new position in Myers Industries during the first quarter worth approximately $194,000. GSA Capital Partners LLP raised its position in Myers Industries by 3.9% in the fourth quarter. GSA Capital Partners LLP now owns 21,500 shares of the industrial products company’s stock worth $307,000 after buying an additional 800 shares in the last quarter. Finally, Comerica Bank raised its position in Myers Industries by 4.8% in the fourth quarter. Comerica Bank now owns 23,082 shares of the industrial products company’s stock worth $323,000 after buying an additional 1,058 shares in the last quarter. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Shares of Myers Industries, Inc. (NYSE:MYE) opened at 17.55 on Wednesday. The firm’s 50-day moving average is $18.18 and its 200-day moving average is $16.17. The firm has a market capitalization of $527.89 million, a P/E ratio of 71.93 and a beta of 1.76. Myers Industries, Inc. has a 52 week low of $11.35 and a 52 week high of $19.45.

Myers Industries (NYSE:MYE) last announced its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.04. Myers Industries had a return on equity of 11.57% and a net margin of 1.38%. The firm had revenue of $142.30 million for the quarter, compared to analysts’ expectations of $142.95 million. During the same period in the prior year, the business posted $0.21 earnings per share. The company’s revenue was down 1.2% on a year-over-year basis. Equities analysts anticipate that Myers Industries, Inc. will post $0.46 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Stockholders of record on Friday, June 16th were given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend was Wednesday, June 14th. Myers Industries’s dividend payout ratio is presently 225.00%.

A number of research firms recently commented on MYE. TheStreet raised shares of Myers Industries from a “c” rating to a “b-” rating in a research report on Monday, May 8th. BidaskClub downgraded shares of Myers Industries from a “hold” rating to a “sell” rating in a research note on Monday. Zacks Investment Research downgraded shares of Myers Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, May 10th. Finally, KeyCorp reiterated a “sell” rating on shares of Myers Industries in a research note on Tuesday. Two analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $17.50.

In other news, major shareholder Gamco Investors, Inc. Et Al sold 3,000 shares of the company’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $18.44, for a total transaction of $55,320.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have sold 3,700 shares of company stock worth $67,425. Company insiders own 0.75% of the company’s stock.

Myers Industries Company Profile

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.