Renaissance Technologies LLC Sells 42,993 Shares of Myers Industries, Inc. $MYE

Renaissance Technologies LLC decreased its stake in shares of Myers Industries, Inc. (NYSE:MYE) by 3.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,265,597 shares of the industrial products company’s stock after selling 42,993 shares during the period. Renaissance Technologies LLC owned 3.37% of Myers Industries worth $26,805,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Royal Bank of Canada raised its holdings in Myers Industries by 44.5% in the 1st quarter. Royal Bank of Canada now owns 24,684 shares of the industrial products company’s stock valued at $295,000 after acquiring an additional 7,607 shares during the period. AQR Capital Management LLC grew its position in shares of Myers Industries by 148.8% in the first quarter. AQR Capital Management LLC now owns 166,990 shares of the industrial products company’s stock valued at $1,992,000 after purchasing an additional 99,881 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Myers Industries by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,835 shares of the industrial products company’s stock valued at $260,000 after purchasing an additional 936 shares during the last quarter. Millennium Management LLC increased its stake in shares of Myers Industries by 2.7% during the first quarter. Millennium Management LLC now owns 911,626 shares of the industrial products company’s stock worth $10,876,000 after purchasing an additional 23,866 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in Myers Industries by 12.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 320,996 shares of the industrial products company’s stock worth $3,829,000 after purchasing an additional 34,787 shares during the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

Analyst Ratings Changes

MYE has been the topic of a number of research reports. KeyCorp upped their price objective on Myers Industries from $26.00 to $37.00 and gave the company an “overweight” rating in a report on Tuesday, June 30th. Weiss Ratings downgraded Myers Industries from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, Wall Street Zen downgraded shares of Myers Industries from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $37.00.

Myers Industries Stock Down 1.9%

NYSE MYE opened at $32.84 on Thursday. The company has a current ratio of 1.65, a quick ratio of 1.29 and a debt-to-equity ratio of 1.04. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 46.92 and a beta of 0.88. The company has a 50 day moving average of $28.26 and a 200-day moving average of $23.80. Myers Industries, Inc. has a 1-year low of $12.96 and a 1-year high of $35.75.

Myers Industries (NYSE:MYE) last issued its quarterly earnings results on Thursday, May 7th. The industrial products company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.16. Myers Industries had a return on equity of 17.23% and a net margin of 3.36%.The business had revenue of $164.58 million for the quarter, compared to the consensus estimate of $209.30 million.

Myers Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Wednesday, June 17th were given a $0.135 dividend. The ex-dividend date was Wednesday, June 17th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.6%. Myers Industries’s dividend payout ratio (DPR) is presently 77.14%.

Myers Industries Profile

Myers Industries, Inc is a diversified manufacturer of polymer products serving industrial, commercial and consumer markets. The company designs, produces and markets a broad range of molded and fabricated plastic components, including pallets, bulk containers, tanks and drums used in material handling and storage applications. Myers Industries leverages proprietary polymer technologies to provide durable, reusable solutions that help customers optimize supply chain efficiency and reduce environmental impact.

Myers operates primarily through two business segments.