First Trust Advisors LP Has $163,000 Stake in Myers Industries Inc. (MYE)
First Trust Advisors LP reduced its position in Myers Industries Inc. (NYSE:MYE) by 73.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,312 shares of the company’s stock after selling 31,117 shares during the period. First Trust Advisors LP’s holdings in Myers Industries were worth $163,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of MYE. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Myers Industries during the first quarter worth $281,000. Prudential Financial Inc. increased its position in shares of Myers Industries by 1.9% in the first quarter. Prudential Financial Inc. now owns 60,437 shares of the company’s stock worth $777,000 after buying an additional 1,100 shares during the period. JPMorgan Chase & Co. increased its position in shares of Myers Industries by 2.2% in the first quarter. JPMorgan Chase & Co. now owns 132,233 shares of the company’s stock worth $1,701,000 after buying an additional 2,900 shares during the period. Spark Investment Management LLC purchased a new position in shares of Myers Industries during the first quarter worth $153,000. Finally, Renaissance Technologies LLC increased its position in shares of Myers Industries by 3.4% in the first quarter. Renaissance Technologies LLC now owns 33,500 shares of the company’s stock worth $431,000 after buying an additional 1,100 shares during the period. Institutional investors and hedge funds own 83.62% of the company’s stock.
Myers Industries Inc. (NYSE:MYE) traded up 0.40% during mid-day trading on Wednesday, hitting $12.55. 5,617 shares of the stock were exchanged. The company has a market cap of $375.18 million, a P/E ratio of 118.40 and a beta of 1.57. The company has a 50-day moving average price of $13.26 and a 200-day moving average price of $13.96. Myers Industries Inc. has a one year low of $10.12 and a one year high of $15.86.
Myers Industries (NYSE:MYE) last issued its earnings results on Wednesday, August 3rd. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.23 by $0.02. The firm earned $144.10 million during the quarter, compared to the consensus estimate of $152.90 million. Myers Industries had a return on equity of 16.92% and a net margin of 0.45%. The firm’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same period last year, the business earned $0.30 earnings per share. Analysts forecast that Myers Industries Inc. will post $0.56 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Friday, September 2nd were given a $0.135 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.54 annualized dividend and a yield of 4.32%. Myers Industries’s dividend payout ratio (DPR) is currently 600.00%.
Separately, Zacks Investment Research cut shares of Myers Industries from a “hold” rating to a “sell” rating in a research note on Saturday, August 6th.
In related news, Director Jane Scaccetti acquired 2,000 shares of the business’s stock in a transaction on Tuesday, August 16th. The stock was bought at an average cost of $14.64 per share, with a total value of $29,280.00. Following the completion of the acquisition, the director now owns 4,800 shares in the company, valued at $70,272. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.29% of the stock is owned by corporate insiders.
Myers Industries Company Profile
Myers Industries, Inc is an international manufacturing and distribution company. The Company operates through two segments: Material Handling, which designs, manufactures and markets a range of plastic and metal products, and Distribution, which is engaged in the distribution of equipment, tools and supplies used for tire servicing and automotive undervehicle repair and the manufacture of tire repair and retreading products.
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