Myers Industries, Inc. $MYE Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC reduced its stake in Myers Industries, Inc. (NYSE:MYE) by 11.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,522 shares of the industrial products company’s stock after selling 1,307 shares during the period. Voya Investment Management LLC’s holdings in Myers Industries were worth $126,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of Myers Industries by 586.6% in the 1st quarter. GAMMA Investing LLC now owns 2,609 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 2,229 shares during the period. Teacher Retirement System of Texas raised its holdings in shares of Myers Industries by 102.2% in the 1st quarter. Teacher Retirement System of Texas now owns 98,877 shares of the industrial products company’s stock worth $1,180,000 after purchasing an additional 49,979 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Myers Industries by 4.6% in the 1st quarter. Rhumbline Advisers now owns 54,098 shares of the industrial products company’s stock worth $645,000 after purchasing an additional 2,389 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of Myers Industries by 1,347.8% in the 1st quarter. HighTower Advisors LLC now owns 172,183 shares of the industrial products company’s stock worth $2,054,000 after purchasing an additional 160,290 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in shares of Myers Industries in the 1st quarter worth approximately $680,000. 90.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MYE shares. Wall Street Zen upgraded shares of Myers Industries from a “hold” rating to a “buy” rating in a report on Sunday, June 22nd. KeyCorp upgraded shares of Myers Industries from a “sector weight” rating to an “overweight” rating and set a $21.00 price target on the stock in a report on Friday, June 13th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $21.00.

Myers Industries Price Performance

NYSE MYE opened at $16.95 on Wednesday. The company has a current ratio of 1.77, a quick ratio of 1.12 and a debt-to-equity ratio of 1.24. The company has a fifty day simple moving average of $16.13 and a 200 day simple moving average of $13.86. The company has a market cap of $634.10 million, a P/E ratio of 65.19 and a beta of 1.19. Myers Industries, Inc. has a 1 year low of $9.06 and a 1 year high of $17.25.

Myers Industries (NYSE:MYE) last released its earnings results on Thursday, July 31st. The industrial products company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.01). The company had revenue of $209.58 million for the quarter, compared to analyst estimates of $220.60 million. Myers Industries had a net margin of 1.20% and a return on equity of 13.02%. On average, sell-side analysts predict that Myers Industries, Inc. will post 0.95 EPS for the current year.

Myers Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Friday, September 12th will be given a dividend of $0.135 per share. The ex-dividend date is Friday, September 12th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.2%. Myers Industries’s dividend payout ratio (DPR) is 207.69%.

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.