Bank of New York Mellon Corp Has $5.38 Million Stake in Myers Industries, Inc. (NYSE:MYE)

Bank of New York Mellon Corp reduced its position in Myers Industries, Inc. (NYSE:MYE - Free Report) by 4.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 451,120 shares of the industrial products company's stock after selling 22,841 shares during the period. Bank of New York Mellon Corp owned approximately 1.21% of Myers Industries worth $5,382,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in Myers Industries by 586.6% in 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 during the last quarter. Teacher Retirement System of Texas increased its stake in shares of 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 valued at $1,180,000 after acquiring an additional 49,979 shares during the period. Rhumbline Advisers increased its stake in shares of Myers Industries by 4.6% during the first quarter. Rhumbline Advisers now owns 54,098 shares of the industrial products company's stock valued at $645,000 after acquiring an additional 2,389 shares during the period. Nuveen Asset Management LLC increased its stake in shares of 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 valued at $4,833,000 after acquiring an additional 11,985 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Myers Industries during the fourth quarter valued at approximately $309,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MYE has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Myers Industries from a "hold" rating to a "buy" rating in a research note on Sunday, June 22nd. KeyCorp raised shares of Myers Industries from a "sector weight" rating to an "overweight" rating and set a $21.00 price objective for the company in a research note on Friday, June 13th.

Myers Industries Stock Down 0.7%

Shares of NYSE:MYE traded down $0.11 during trading on Monday, reaching $15.08. 169,047 shares of the company traded hands, compared to its average volume of 176,717. The firm has a fifty day simple moving average of $14.30 and a 200 day simple moving average of $12.46. The firm has a market cap of $563.72 million, a P/E ratio of 53.86 and a beta of 1.14. Myers Industries, Inc. has a 1-year low of $9.06 and a 1-year high of $17.39. The company has a quick ratio of 1.14, a current ratio of 1.78 and a debt-to-equity ratio of 1.34.

Myers Industries (NYSE:MYE - Get Free Report) last issued its earnings results on Thursday, May 1st. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.03. The company had revenue of $206.75 million during the quarter, compared to analyst estimates of $206.80 million. Myers Industries had a net margin of 1.26% and a return on equity of 14.02%. Analysts anticipate that Myers Industries, Inc. will post 0.95 earnings per share for the current fiscal year.

Myers Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 18th were issued a dividend of $0.135 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.58%. Myers Industries's dividend payout ratio is currently 192.86%.

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.