Los Angeles Capital Management LLC Sells 46,932 Shares of Myers Industries, Inc. (NYSE:MYE)

Los Angeles Capital Management LLC reduced its stake in shares of Myers Industries, Inc. (NYSE:MYE) by 76.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 14,732 shares of the industrial products company’s stock after selling 46,932 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Myers Industries were worth $204,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MYE. nVerses Capital LLC bought a new position in shares of Myers Industries in the 2nd quarter valued at approximately $25,000. DekaBank Deutsche Girozentrale acquired a new position in Myers Industries during the first quarter valued at approximately $91,000. Gallacher Capital Management LLC bought a new position in shares of Myers Industries in the second quarter valued at approximately $186,000. The Manufacturers Life Insurance Company lifted its stake in shares of Myers Industries by 10.0% in the second quarter. The Manufacturers Life Insurance Company now owns 14,959 shares of the industrial products company’s stock worth $200,000 after buying an additional 1,357 shares during the last quarter. Finally, Paloma Partners Management Co bought a new stake in shares of Myers Industries during the 1st quarter worth $254,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Analysts Set New Price Targets

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

Myers Industries Price Performance

Shares of NYSE:MYE opened at $11.16 on Tuesday. The company has a market cap of $415.82 million, a price-to-earnings ratio of 26.57 and a beta of 1.23. The business has a 50 day moving average price of $12.83 and a 200 day moving average price of $14.19. The company has a quick ratio of 1.11, a current ratio of 1.80 and a debt-to-equity ratio of 1.36. Myers Industries, Inc. has a twelve month low of $10.77 and a twelve month high of $23.63.

Myers Industries (NYSE:MYE) last announced its quarterly earnings data 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 company had revenue of $205.07 million during the quarter. Myers Industries had a return on equity of 14.75% and a net margin of 1.88%. During the same quarter last year, the firm posted $0.38 EPS. Research analysts predict that Myers Industries, Inc. will post 0.95 earnings per share for the current year.

Myers Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 3rd 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 4.84%. The ex-dividend date of this dividend is Tuesday, December 3rd. Myers Industries’s dividend payout ratio is currently 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.