Myers Industries, Inc. (NYSE:MYE) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its stake in shares of Myers Industries, Inc. (NYSE:MYE) by 2.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 2,089,225 shares of the industrial products company’s stock after selling 41,569 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.06% of Myers Industries worth $48,407,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of MYE. Quest Partners LLC purchased a new position in shares of Myers Industries in the 4th quarter worth about $54,000. Summit Global Investments increased its position in Myers Industries by 53.3% during the 4th quarter. Summit Global Investments now owns 16,470 shares of the industrial products company’s stock worth $322,000 after purchasing an additional 5,725 shares in the last quarter. FMR LLC raised its holdings in Myers Industries by 3.1% in the third quarter. FMR LLC now owns 204,641 shares of the industrial products company’s stock valued at $3,669,000 after buying an additional 6,077 shares during the period. Jump Financial LLC lifted its position in Myers Industries by 55.6% during the fourth quarter. Jump Financial LLC now owns 25,512 shares of the industrial products company’s stock valued at $499,000 after buying an additional 9,112 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new stake in Myers Industries during the first quarter worth approximately $268,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Myers Industries Stock Down 1.1 %

NYSE MYE opened at $13.00 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.75 and a debt-to-equity ratio of 1.34. Myers Industries, Inc. has a fifty-two week low of $12.95 and a fifty-two week high of $23.63. The business has a 50 day moving average price of $16.43 and a two-hundred day moving average price of $18.89. The stock has a market cap of $483.34 million, a PE ratio of 12.26 and a beta of 1.21.

Myers Industries (NYSE:MYE) last announced its earnings results on Tuesday, May 7th. The industrial products company reported $0.21 earnings per share for the quarter. Myers Industries had a net margin of 4.90% and a return on equity of 15.99%. The business had revenue of $207.10 million during the quarter. As a group, sell-side analysts predict that Myers Industries, Inc. will post 1.38 EPS for the current fiscal year.

Myers Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Tuesday, June 18th will be given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date is Tuesday, June 18th. Myers Industries’s payout ratio is 50.94%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MYE. StockNews.com downgraded shares of Myers Industries from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. KeyCorp boosted their price objective on Myers Industries from $22.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd.

Myers Industries Company 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.