Myers Industries, Inc. (NYSE:MYE) Stock Holdings Lowered by Verition Fund Management LLC

Verition Fund Management LLC lessened its position in Myers Industries, Inc. (NYSE:MYE) by 29.7% during the third quarter, Holdings Channel reports. The fund owned 10,300 shares of the industrial products company’s stock after selling 4,345 shares during the quarter. Verition Fund Management LLC’s holdings in Myers Industries were worth $142,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. nVerses Capital LLC acquired a new stake in shares of Myers Industries in the second quarter valued at approximately $25,000. Quest Partners LLC bought a new position in Myers Industries in the 3rd quarter worth approximately $150,000. Quantbot Technologies LP grew its holdings 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 worth $158,000 after buying an additional 846 shares in the last quarter. Gallacher Capital Management LLC acquired a new stake in Myers Industries in the 2nd quarter valued at approximately $186,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Myers Industries during the 3rd quarter valued at $187,000. 90.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. KeyCorp cut Myers Industries from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, November 6th. StockNews.com cut shares of Myers Industries from a “hold” rating to a “sell” rating in a research note on Monday.

Myers Industries Price Performance

NYSE MYE opened at $12.24 on Tuesday. The firm has a market capitalization of $455.88 million, a PE ratio of 29.13 and a beta of 1.22. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.80 and a quick ratio of 1.11. Myers Industries, Inc. has a 12 month low of $10.35 and a 12 month high of $23.63. The company’s 50 day simple moving average is $12.08 and its 200 day simple moving average is $13.46.

Myers Industries (NYSE:MYE) last issued its quarterly earnings results on Monday, November 4th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.04). The firm had revenue of $205.07 million for the quarter. Myers Industries had a net margin of 1.88% and a return on equity of 14.75%. During the same quarter in the previous year, the business posted $0.38 EPS. As a group, equities research analysts forecast that Myers Industries, Inc. will post 0.95 EPS for the current fiscal year.

Myers Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 3rd will be issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date of this dividend is Tuesday, December 3rd. Myers Industries’s payout ratio is 128.57%.

Insider Activity

In related news, CEO Dave Basque acquired 5,000 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was bought at an average price of $12.13 per share, for a total transaction of $60,650.00. Following the transaction, the chief executive officer now owns 34,152 shares of the company’s stock, valued at approximately $414,263.76. The trade was a 17.15 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders acquired 19,500 shares of company stock worth $232,575. Corporate insiders own 1.40% of the company’s stock.

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.