American Century Companies Inc. Has $4.03 Million Stock Position in Myers Industries, Inc. $MYE

Key Points

• American Century Companies Inc. has reduced its stake in Myers Industries, Inc. by 22.3%, selling 96,973 shares and now owning 0.90% of the company valued at approximately $4,026,000.
• Several institutional investors have recently increased their positions in Myers Industries, with GAMMA Investing LLC raising its stake by 586.6% in the first quarter.
• Myers Industries recently reported earnings of $0.31 per share, missing consensus estimates, while also announcing a quarterly dividend of $0.135 per share, reflecting an annualized yield of 3.2%.

American Century Companies Inc. lowered its stake in Myers Industries, Inc. (NYSE:MYE - Free Report) by 22.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 337,486 shares of the industrial products company's stock after selling 96,973 shares during the quarter. American Century Companies Inc. owned about 0.90% of Myers Industries worth $4,026,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in Myers Industries by 586.6% during the first 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 in the last quarter. Teacher Retirement System of Texas lifted its holdings in Myers Industries by 102.2% during the first quarter. Teacher Retirement System of Texas now owns 98,877 shares of the industrial products company's stock worth $1,180,000 after acquiring an additional 49,979 shares in the last quarter. Rhumbline Advisers lifted its holdings in Myers Industries by 4.6% during the first quarter. Rhumbline Advisers now owns 54,098 shares of the industrial products company's stock worth $645,000 after acquiring an additional 2,389 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in Myers Industries by 2.8% during the fourth quarter. Nuveen Asset Management LLC now owns 437,753 shares of the industrial products company's stock worth $4,833,000 after acquiring an additional 11,985 shares in the last quarter. Finally, HighTower Advisors LLC lifted its holdings in Myers Industries by 1,347.8% during the first quarter. HighTower Advisors LLC now owns 172,183 shares of the industrial products company's stock worth $2,054,000 after acquiring an additional 160,290 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company's stock.

Myers Industries Stock Up 1.9%

Shares of MYE traded up $0.31 during midday trading on Thursday, hitting $16.70. The stock had a trading volume of 144,440 shares, compared to its average volume of 208,276. The company has a 50 day simple moving average of $15.67 and a two-hundred day simple moving average of $13.25. Myers Industries, Inc. has a twelve month low of $9.06 and a twelve month high of $17.12. The firm has a market cap of $624.71 million, a price-to-earnings ratio of 64.23 and a beta of 1.19. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.77 and a quick ratio of 1.12.

Myers Industries (NYSE:MYE - Get Free Report) last released its earnings results on Thursday, July 31st. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.01). The company had revenue of $209.58 million during 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, analysts anticipate that Myers Industries, Inc. will post 0.95 EPS for the current year.

Myers Industries Announces Dividend

The business 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 $0.135 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.2%. Myers Industries's payout ratio is currently 207.69%.

Analysts Set New Price Targets

MYE has been the topic of several recent analyst reports. KeyCorp upgraded Myers Industries from a "sector weight" rating to an "overweight" rating and set a $21.00 target price on the stock in a report on Friday, June 13th. Wall Street Zen upgraded Myers Industries from a "hold" rating to a "buy" rating in a report on Sunday, June 22nd. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Myers Industries currently has a consensus rating of "Buy" and a consensus target price of $21.00.

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.