Assenagon Asset Management S.A. Cuts Stock Holdings in Myers Industries, Inc. (NYSE:MYE)

Assenagon Asset Management S.A. lowered its stake in Myers Industries, Inc. (NYSE:MYE) by 1.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 279,671 shares of the industrial products company’s stock after selling 5,302 shares during the quarter. Assenagon Asset Management S.A. owned 0.76% of Myers Industries worth $5,468,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in MYE. Tower Research Capital LLC TRC grew 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 valued at $38,000 after acquiring an additional 864 shares during the period. NewEdge Advisors LLC acquired a new stake in Myers Industries in the 1st quarter valued at $41,000. UBS Group AG boosted its stake 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 purchasing an additional 1,337 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Myers Industries during the 3rd quarter worth $87,000. Finally, Captrust Financial Advisors boosted its stake 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 purchasing an additional 1,109 shares during the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

Myers Industries Trading Down 0.2 %

Shares of MYE opened at $23.17 on Monday. The firm’s fifty day moving average is $20.09 and its two-hundred day moving average is $18.75. The company has a quick ratio of 1.00, a current ratio of 1.55 and a debt-to-equity ratio of 0.14. The stock has a market cap of $855.90 million, a PE ratio of 17.55 and a beta of 1.29. Myers Industries, Inc. has a 52-week low of $15.65 and a 52-week high of $23.63.

Myers Industries (NYSE:MYE) last announced its quarterly earnings results on Tuesday, March 5th. The industrial products company reported $0.29 earnings per share 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 quarter in the previous year, the company posted $0.32 EPS. Research analysts forecast that Myers Industries, Inc. will post 1.38 earnings per share for the current fiscal year.

Myers Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 4th. Stockholders of record on Saturday, March 16th will be given a dividend of $0.135 per share. The ex-dividend date is Thursday, March 14th. This represents a $0.54 annualized dividend and a dividend yield of 2.33%. Myers Industries’s payout ratio is 40.91%.

Wall Street Analyst Weigh In

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

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.