Nisa Investment Advisors LLC Has $123,000 Holdings in Myers Industries, Inc. (NYSE:MYE)

Nisa Investment Advisors LLC cut its stake in Myers Industries, Inc. (NYSE:MYE) by 20.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,282 shares of the industrial products company’s stock after selling 1,600 shares during the period. Nisa Investment Advisors LLC’s holdings in Myers Industries were worth $123,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its stake in Myers Industries by 80.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,941 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 864 shares during the period. NewEdge Advisors LLC bought a new stake in Myers Industries during the 1st quarter worth about $41,000. UBS Group AG lifted its position in Myers Industries by 58.5% during the 3rd quarter. UBS Group AG now owns 3,621 shares of the industrial products company’s stock worth $60,000 after buying an additional 1,337 shares in the last quarter. Quantbot Technologies LP bought a new stake in Myers Industries during the 3rd quarter worth about $87,000. Finally, Captrust Financial Advisors lifted its position in Myers Industries by 32.8% during the 1st quarter. Captrust Financial Advisors now owns 4,494 shares of the industrial products company’s stock worth $98,000 after buying an additional 1,109 shares in the last quarter. 90.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Myers Industries Trading Up 1.4 %

Shares of NYSE:MYE opened at $21.57 on Friday. Myers Industries, Inc. has a 52-week low of $15.65 and a 52-week high of $23.63. The company has a market capitalization of $796.80 million, a P/E ratio of 16.34 and a beta of 1.31. The company has a 50-day simple moving average of $21.03 and a 200 day simple moving average of $19.16. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.00 and a current ratio of 1.55.

Myers Industries (NYSE:MYE) last issued its earnings results on Tuesday, March 5th. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.03. Myers Industries had a net margin of 6.01% and a return on equity of 18.55%. The business 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 business posted $0.32 EPS. Sell-side analysts forecast that Myers Industries, Inc. will post 1.38 earnings per share for the current year.

Myers Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Saturday, March 16th were paid a $0.135 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.54 annualized dividend and a yield of 2.50%. Myers Industries’s dividend payout ratio (DPR) is currently 40.91%.

Myers Industries Profile

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.