Quest Partners LLC Takes Position in Myers Industries, Inc. (NYSE:MYE)

Quest Partners LLC bought a new stake in Myers Industries, Inc. (NYSE:MYE) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,823 shares of the industrial products company’s stock, valued at approximately $150,000.

Other institutional investors have also modified their holdings of the company. nVerses Capital LLC lifted its position in Myers Industries by 57.9% during the 3rd quarter. nVerses Capital LLC now owns 3,000 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 1,100 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Myers Industries by 10.0% during the second quarter. The Manufacturers Life Insurance Company now owns 14,959 shares of the industrial products company’s stock worth $200,000 after purchasing an additional 1,357 shares during the last quarter. Tieton Capital Management LLC lifted its holdings in shares of Myers Industries by 1.3% during the second quarter. Tieton Capital Management LLC now owns 186,925 shares of the industrial products company’s stock worth $2,501,000 after purchasing an additional 2,380 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in Myers Industries in the 1st quarter valued at $91,000. Finally, Dimensional Fund Advisors LP increased its stake in Myers Industries by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,604,324 shares of the industrial products company’s stock valued at $21,466,000 after buying an additional 4,777 shares during the period. 90.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, KeyCorp downgraded shares of Myers Industries from an “overweight” rating to a “sector weight” rating in a report on Wednesday, November 6th.

Myers Industries Stock Up 1.8 %

MYE opened at $11.45 on Friday. The business has a 50 day simple moving average of $12.49 and a 200-day simple moving average of $13.83. Myers Industries, Inc. has a 12 month low of $10.35 and a 12 month high of $23.63. The stock has a market capitalization of $426.63 million, a P/E ratio of 27.26 and a beta of 1.23. 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 (NYSE:MYE) last issued its earnings results on Monday, November 4th. The industrial products company reported $0.25 EPS for the quarter, missing the consensus estimate 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 quarter in the prior year, the firm earned $0.38 EPS. On average, equities analysts anticipate that Myers Industries, Inc. will post 0.95 earnings per share for the current fiscal year.

Myers Industries Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.54 dividend on an annualized basis and a yield of 4.72%. Myers Industries’s dividend payout ratio (DPR) is presently 128.57%.

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.