UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stock Holdings in Myers Industries, Inc. (NYSE:MYE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Myers Industries, Inc. (NYSE:MYE) by 11.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 78,978 shares of the industrial products company’s stock after purchasing an additional 8,388 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Myers Industries were worth $1,091,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Panagora Asset Management Inc. lifted its holdings in shares of Myers Industries by 54.0% in the 2nd quarter. Panagora Asset Management Inc. now owns 188,566 shares of the industrial products company’s stock valued at $2,523,000 after buying an additional 66,084 shares during the period. nVerses Capital LLC purchased a new stake in Myers Industries in the 2nd quarter worth approximately $25,000. Hodges Capital Management Inc. grew its stake in shares of Myers Industries by 336.3% during the 2nd quarter. Hodges Capital Management Inc. now owns 105,800 shares of the industrial products company’s stock worth $1,416,000 after purchasing an additional 81,550 shares during the period. Victory Capital Management Inc. acquired a new position in shares of Myers Industries in the 2nd quarter valued at $13,684,000. Finally, Los Angeles Capital Management LLC boosted its holdings in Myers Industries by 324.7% during the second quarter. Los Angeles Capital Management LLC now owns 61,664 shares of the industrial products company’s stock worth $825,000 after buying an additional 47,144 shares in the last quarter. 90.82% of the stock is owned by hedge funds and other institutional investors.

Myers Industries Trading Down 5.0 %

Shares of NYSE:MYE opened at $11.71 on Thursday. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.80 and a quick ratio of 1.11. The business’s 50 day moving average price is $12.06 and its 200-day moving average price is $13.43. The firm has a market capitalization of $436.31 million, a price-to-earnings ratio of 27.88 and a beta of 1.22. Myers Industries, Inc. has a 1 year low of $10.35 and a 1 year high of $23.63.

Myers Industries (NYSE:MYE) last released its earnings results on Monday, November 4th. The industrial products company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.04). Myers Industries had a return on equity of 14.75% and a net margin of 1.88%. The company had revenue of $205.07 million for the quarter. During the same period in the prior year, the company earned $0.38 earnings per share. On average, equities research analysts forecast that Myers Industries, Inc. will post 0.95 earnings per share for the current fiscal year.

Myers Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 3rd will be paid a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 4.61%. The ex-dividend date of this dividend is Tuesday, December 3rd. Myers Industries’s dividend payout ratio is currently 128.57%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MYE shares. StockNews.com cut shares of Myers Industries from a “hold” rating to a “sell” rating in a report on Monday. KeyCorp cut Myers Industries from an “overweight” rating to a “sector weight” rating in a report on Wednesday, November 6th.

Insider Buying and Selling at Myers Industries

In other Myers Industries news, CEO Dave Basque acquired 5,000 shares of the business’s stock in a transaction on 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 acquisition, the chief executive officer now owns 34,152 shares in the company, 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 filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have bought 19,500 shares of company stock worth $232,575. Corporate insiders own 1.40% of the company’s stock.

About Myers Industries

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.