Intech Investment Management LLC Sells 5,269 Shares of Myers Industries, Inc. $MYE

Intech Investment Management LLC lowered its position in Myers Industries, Inc. (NYSE:MYE) by 16.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,109 shares of the industrial products company’s stock after selling 5,269 shares during the period. Intech Investment Management LLC owned 0.07% of Myers Industries worth $378,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. CWM LLC increased its holdings in Myers Industries by 829.7% during the 1st quarter. CWM LLC now owns 4,695 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 4,190 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Myers Industries during the first quarter worth $680,000. XTX Topco Ltd acquired a new stake in shares of Myers Industries in the first quarter valued at $201,000. Vanguard Group Inc. raised its holdings in shares of Myers Industries by 3.2% in the first quarter. Vanguard Group Inc. now owns 2,684,971 shares of the industrial products company’s stock valued at $32,032,000 after buying an additional 82,223 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Myers Industries by 10.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 420,885 shares of the industrial products company’s stock valued at $5,021,000 after buying an additional 39,504 shares during the last quarter. 90.82% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Helmuth Ludwig purchased 5,000 shares of the stock in a transaction dated Monday, November 3rd. The stock was bought at an average cost of $17.21 per share, with a total value of $86,050.00. Following the purchase, the director directly owned 13,436 shares in the company, valued at $231,233.56. The trade was a 59.27% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Samantha Rutty purchased 3,000 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was purchased at an average price of $17.50 per share, for a total transaction of $52,500.00. Following the completion of the transaction, the chief financial officer directly owned 3,000 shares in the company, valued at $52,500. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 9,000 shares of company stock valued at $156,000 over the last 90 days. Corporate insiders own 1.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on MYE. Zacks Research cut shares of Myers Industries from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 23rd. Wall Street Zen raised Myers Industries from a “buy” rating to a “strong-buy” rating in a report on Friday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Myers Industries in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $21.00.

Myers Industries Price Performance

Shares of MYE stock opened at $18.06 on Monday. The firm’s 50 day moving average price is $17.06 and its two-hundred day moving average price is $15.74. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.12 and a current ratio of 1.77. Myers Industries, Inc. has a 52-week low of $9.06 and a 52-week high of $18.29. The stock has a market cap of $675.59 million, a PE ratio of 69.46 and a beta of 1.19.

Myers Industries (NYSE:MYE) last issued its earnings results on Thursday, October 30th. The industrial products company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.25 by $0.01. Myers Industries had a net margin of 1.20% and a return on equity of 13.02%. The company had revenue of $205.44 million during the quarter, compared to analysts’ expectations of $206.40 million. As a group, analysts forecast that Myers Industries, Inc. will post 0.95 EPS for the current year.

Myers Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Wednesday, December 3rd will be issued a dividend of $0.135 per share. The ex-dividend date is Wednesday, December 3rd. This represents a $0.54 dividend on an annualized basis and a yield of 3.0%. Myers Industries’s dividend payout ratio (DPR) is 72.97%.

Myers Industries Company 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.