Moors & Cabot Inc. Decreases Position in Myers Industries, Inc. (NYSE:MYE)

Moors & Cabot Inc. lessened its holdings in Myers Industries, Inc. (NYSE:MYE) by 8.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 41,625 shares of the industrial products company’s stock after selling 3,739 shares during the quarter. Moors & Cabot Inc.’s holdings in Myers Industries were worth $557,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. nVerses Capital LLC acquired a new stake in shares of Myers Industries in the 2nd quarter valued at $25,000. Quest Partners LLC acquired a new stake in shares of Myers Industries in the 4th quarter valued at $54,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Myers Industries in the 1st quarter valued at $91,000. Covestor Ltd raised its holdings in shares of Myers Industries by 712,200.0% in the 1st quarter. Covestor Ltd now owns 7,123 shares of the industrial products company’s stock valued at $165,000 after purchasing an additional 7,122 shares in the last quarter. Finally, Gallacher Capital Management LLC acquired a new stake in shares of Myers Industries in the 2nd quarter valued at $186,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Myers Industries Price Performance

Shares of NYSE:MYE opened at $14.46 on Friday. The company’s fifty day moving average price is $14.34 and its 200 day moving average price is $17.00. Myers Industries, Inc. has a 12 month low of $12.47 and a 12 month high of $23.63. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.81 and a quick ratio of 1.16. The firm has a market capitalization of $537.67 million, a P/E ratio of 13.39 and a beta of 1.22.

Myers Industries (NYSE:MYE) last announced its quarterly earnings results on Thursday, August 1st. The industrial products company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.31 by $0.08. The firm had revenue of $220.24 million for the quarter. Myers Industries had a net margin of 4.79% and a return on equity of 16.27%. During the same quarter in the prior year, the business earned $0.35 earnings per share. As a group, sell-side analysts predict that Myers Industries, Inc. will post 1.13 earnings per share for the current fiscal year.

Myers Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Friday, September 13th will be paid a $0.135 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.54 dividend on an annualized basis and a yield of 3.73%. Myers Industries’s dividend payout ratio is presently 50.94%.

Analyst Ratings Changes

Separately, KeyCorp reduced their price objective on shares of Myers Industries from $30.00 to $27.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd.

Myers Industries 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.