Myers Industries, Inc. $MYE Shares Sold by American Century Companies Inc.

American Century Companies Inc. decreased its holdings in shares of Myers Industries, Inc. (NYSE:MYE) by 8.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 307,405 shares of the industrial products company’s stock after selling 30,081 shares during the period. American Century Companies Inc. owned approximately 0.82% of Myers Industries worth $4,454,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Y Intercept Hong Kong Ltd boosted its stake in shares of Myers Industries by 141.0% during the second quarter. Y Intercept Hong Kong Ltd now owns 95,506 shares of the industrial products company’s stock valued at $1,384,000 after acquiring an additional 55,885 shares during the last quarter. HighTower Advisors LLC raised its holdings in Myers Industries by 1,347.8% in the first quarter. HighTower Advisors LLC now owns 172,183 shares of the industrial products company’s stock valued at $2,054,000 after buying an additional 160,290 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Myers Industries during the 2nd quarter valued at $220,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of Myers Industries by 28.7% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 122,400 shares of the industrial products company’s stock worth $1,774,000 after buying an additional 27,314 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in Myers Industries by 12.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 320,996 shares of the industrial products company’s stock valued at $3,829,000 after buying an additional 34,787 shares during the last quarter. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Samantha Rutty purchased 3,000 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was bought at an average price of $17.50 per share, with a total value of $52,500.00. Following the completion of the purchase, the chief financial officer owned 3,000 shares in the company, valued at approximately $52,500. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Helmuth Ludwig bought 5,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were purchased 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 of the company’s stock, valued at $231,233.56. The trade was a 59.27% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have acquired 9,000 shares of company stock worth $156,000. Corporate insiders own 1.85% of the company’s stock.

Myers Industries Price Performance

MYE opened at $18.41 on Monday. Myers Industries, Inc. has a 52 week low of $9.06 and a 52 week high of $18.61. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.09 and a current ratio of 1.67. The firm has a market capitalization of $688.72 million, a PE ratio of 24.88 and a beta of 1.14. The company has a fifty day moving average price of $17.22 and a two-hundred day moving average price of $15.94.

Myers Industries (NYSE:MYE) last released its quarterly earnings data on Thursday, October 30th. The industrial products company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.01. The business had revenue of $205.44 million for the quarter, compared to analysts’ expectations of $206.40 million. Myers Industries had a return on equity of 13.15% and a net margin of 3.38%. As a group, analysts anticipate that Myers Industries, Inc. will post 0.95 earnings per share for the current year.

Myers Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Wednesday, December 3rd will be paid a $0.135 dividend. The ex-dividend date is Wednesday, December 3rd. This represents a $0.54 annualized dividend and a dividend yield of 2.9%. Myers Industries’s dividend payout ratio is 72.97%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MYE. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Myers Industries in a research report on Wednesday, October 8th. Zacks Research cut shares of Myers Industries from a “hold” rating to a “strong sell” rating in a report on Thursday, October 23rd. Finally, Wall Street Zen raised Myers Industries from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 28th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $21.00.

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.