Foundry Partners LLC Reduces Position in Myers Industries, Inc. (NYSE:MYE)

Foundry Partners LLC decreased its holdings in Myers Industries, Inc. (NYSE:MYE) by 1.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 128,493 shares of the industrial products company’s stock after selling 2,435 shares during the period. Foundry Partners LLC’s holdings in Myers Industries were worth $2,512,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System purchased a new stake in Myers Industries in the fourth quarter worth $360,000. Pacer Advisors Inc. purchased a new stake in Myers Industries in the fourth quarter worth $16,196,000. Vanguard Group Inc. lifted its stake in Myers Industries by 0.6% in the third quarter. Vanguard Group Inc. now owns 2,583,805 shares of the industrial products company’s stock worth $46,328,000 after acquiring an additional 16,043 shares during the period. FMR LLC lifted its stake in Myers Industries by 3.1% in the third quarter. FMR LLC now owns 204,641 shares of the industrial products company’s stock worth $3,669,000 after acquiring an additional 6,077 shares during the period. Finally, Ruggaard & Associates LLC purchased a new stake in Myers Industries in the third quarter worth $934,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Myers Industries Stock Performance

Shares of Myers Industries stock opened at $21.62 on Tuesday. The company has a current ratio of 1.55, a quick ratio of 1.00 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $798.64 million, a P/E ratio of 16.38 and a beta of 1.31. The business has a fifty day simple moving average of $21.08 and a two-hundred day simple moving average of $19.20. Myers Industries, Inc. has a 12 month low of $15.65 and a 12 month high of $23.63.

Myers Industries (NYSE:MYE) last issued its quarterly earnings results on Tuesday, March 5th. The industrial products company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.03. Myers Industries had a return on equity of 18.55% and a net margin of 6.01%. The firm had revenue of $191.08 million during the quarter, compared to the consensus estimate of $191.60 million. During the same period last year, the company earned $0.32 earnings per share. On average, equities analysts forecast that Myers Industries, Inc. will post 1.38 earnings per share for the current fiscal year.

Myers Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Saturday, March 16th were issued a dividend of $0.135 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.54 annualized dividend and a dividend yield of 2.50%. Myers Industries’s payout ratio is presently 40.91%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. StockNews.com raised Myers Industries from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 16th. KeyCorp raised their price objective on Myers Industries from $22.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd.

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.