Myers Industries, Inc. (NYSE:MYE) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC trimmed its holdings in shares of Myers Industries, Inc. (NYSE:MYE) by 14.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 18,227 shares of the industrial products company’s stock after selling 3,015 shares during the quarter. Yousif Capital Management LLC’s holdings in Myers Industries were worth $356,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quantbot Technologies LP acquired a new position in Myers Industries during the third quarter valued at approximately $87,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Myers Industries by 28.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,478 shares of the industrial products company’s stock valued at $134,000 after buying an additional 1,648 shares in the last quarter. Strs Ohio acquired a new position in Myers Industries during the third quarter valued at approximately $234,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of Myers Industries during the third quarter worth $262,000. Finally, Jump Financial LLC purchased a new position in shares of Myers Industries in the third quarter valued at $294,000. 90.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Myers Industries from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 16th. KeyCorp upped their target price on shares of Myers Industries from $22.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd.

Myers Industries Price Performance

Shares of MYE stock opened at $22.94 on Tuesday. The company has a market capitalization of $847.40 million, a PE ratio of 17.38 and a beta of 1.31. The firm has a fifty day simple moving average of $21.69 and a 200-day simple moving average of $19.54. The company has a current ratio of 1.55, a quick ratio of 1.00 and a debt-to-equity ratio of 0.14. Myers Industries, Inc. has a twelve month low of $15.65 and a twelve month high of $23.63.

Myers Industries (NYSE:MYE) last posted its quarterly 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. The firm had revenue of $191.08 million for the quarter, compared to analysts’ expectations of $191.60 million. Myers Industries had a net margin of 6.01% and a return on equity of 18.55%. During the same period in the prior year, the company posted $0.32 earnings per share. Equities research analysts anticipate 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. Investors of record on Saturday, March 16th were issued 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 2.35%. Myers Industries’s dividend payout ratio is presently 40.91%.

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.