Alliancebernstein L.P. Sells 1,900 Shares of Myers Industries, Inc. (MYE)
Alliancebernstein L.P. decreased its position in Myers Industries, Inc. (NYSE:MYE) by 7.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,580 shares of the industrial products company’s stock after selling 1,900 shares during the period. Alliancebernstein L.P.’s holdings in Myers Industries were worth $358,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Myers Industries during the fourth quarter worth $4,726,000. American Century Companies Inc. acquired a new position in shares of Myers Industries during the first quarter valued at approximately $3,786,000. North Star Investment Management Corp. raised its position in shares of Myers Industries by 54.2% in the first quarter. North Star Investment Management Corp. now owns 156,462 shares of the industrial products company’s stock valued at $2,480,000 after buying an additional 54,979 shares during the period. Wedge Capital Management L L P NC raised its position in shares of Myers Industries by 59.7% in the first quarter. Wedge Capital Management L L P NC now owns 89,900 shares of the industrial products company’s stock valued at $1,425,000 after buying an additional 33,600 shares during the period. Finally, Oxford Asset Management acquired a new position in shares of Myers Industries during the first quarter valued at approximately $516,000. 84.08% of the stock is currently owned by institutional investors.
Shares of Myers Industries, Inc. (MYE) traded down 1.98% during trading on Friday, hitting $17.35. The stock had a trading volume of 99,389 shares. The company has a market cap of $524.92 million, a PE ratio of 130.45 and a beta of 1.76. The stock’s 50 day moving average is $17.91 and its 200-day moving average is $16.32. Myers Industries, Inc. has a 12-month low of $11.35 and a 12-month high of $19.45.
Myers Industries (NYSE:MYE) last posted its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.02. Myers Industries had a return on equity of 10.71% and a net margin of 0.74%. The business had revenue of $142.30 million for the quarter, compared to analysts’ expectations of $142.95 million. During the same quarter last year, the firm earned $0.21 earnings per share. The business’s revenue was down 1.2% on a year-over-year basis. Analysts forecast that Myers Industries, Inc. will post $0.51 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Friday, September 8th will be issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend is Thursday, September 7th. Myers Industries’s dividend payout ratio (DPR) is 415.38%.
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MYE has been the topic of several recent analyst reports. TheStreet raised Myers Industries from a “c” rating to a “b-” rating in a research note on Monday, May 8th. Zacks Investment Research lowered Myers Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, May 10th. BidaskClub lowered Myers Industries from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Finally, KeyCorp reaffirmed a “sell” rating on shares of Myers Industries in a research note on Tuesday, August 1st. Two analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. Myers Industries currently has an average rating of “Hold” and a consensus price target of $16.50.
In other news, major shareholder Gamco Investors, Inc. Et Al sold 3,000 shares of the firm’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $18.44, for a total transaction of $55,320.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.75% of the stock is owned by company insiders.
Myers Industries Company Profile
Myers Industries, Inc is an international manufacturing and distribution company. The Company operates through two segments: Material Handling and Distribution. As of December 31, 2016, the Company operated 15 manufacturing facilities, 20 sales offices, four distribution centers and three distribution branches located throughout North, Central and South America.
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