De Lisle Partners LLP Sells 30,000 Shares of Myers Industries, Inc. (NYSE:MYE)

Key Points

• De Lisle Partners LLP reduced its stake in Myers Industries, Inc. by 39.1%, selling 30,000 shares in the first quarter and now holding approximately 0.13% of the company.
• A number of institutional investors, including Millennium Management LLC with an 824.9% increase, have adjusted their positions in Myers Industries, indicating significant activity in the stock.
• Analysts have upgraded Myers Industries from a "hold" rating to a "buy" rating, with KeyCorp setting a target price of $21.00, highlighting positive sentiment around the stock's future performance.

De Lisle Partners LLP lowered its stake in Myers Industries, Inc. (NYSE:MYE - Free Report) by 39.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 46,745 shares of the industrial products company's stock after selling 30,000 shares during the period. De Lisle Partners LLP owned 0.13% of Myers Industries worth $558,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of Myers Industries by 586.6% in the 1st quarter. GAMMA Investing LLC now owns 2,609 shares of the industrial products company's stock valued at $31,000 after buying an additional 2,229 shares during the period. CWM LLC boosted its holdings in shares of Myers Industries by 829.7% in the 1st quarter. CWM LLC now owns 4,695 shares of the industrial products company's stock valued at $56,000 after buying an additional 4,190 shares during the period. Aquatic Capital Management LLC boosted its holdings in shares of Myers Industries by 103.1% in the 4th quarter. Aquatic Capital Management LLC now owns 5,484 shares of the industrial products company's stock valued at $61,000 after buying an additional 2,784 shares during the period. ProShare Advisors LLC acquired a new position in shares of Myers Industries in the 4th quarter valued at about $114,000. Finally, Graham Capital Management L.P. acquired a new position in shares of Myers Industries in the 4th quarter valued at about $144,000. Institutional investors own 90.82% of the company's stock.

Analyst Upgrades and Downgrades

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

Myers Industries Stock Performance

Myers Industries stock traded up $0.23 during midday trading on Friday, reaching $14.88. 266,839 shares of the stock traded hands, compared to its average volume of 291,946. Myers Industries, Inc. has a fifty-two week low of $9.06 and a fifty-two week high of $15.77. The firm has a market cap of $556.24 million, a price-to-earnings ratio of 53.14 and a beta of 1.14. The firm has a fifty day moving average price of $14.45 and a two-hundred day moving average price of $12.52. The company has a current ratio of 1.78, a quick ratio of 1.14 and a debt-to-equity ratio of 1.34.

Myers Industries (NYSE:MYE - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.01). Myers Industries had a return on equity of 14.02% and a net margin of 1.26%. The company had revenue of $209.58 million for the quarter, compared to the consensus estimate of $220.60 million. On average, equities research analysts forecast that Myers Industries, Inc. will post 0.95 earnings per share for the current year.

Myers Industries Announces Dividend

The company 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 was Wednesday, June 18th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.6%. Myers Industries's 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.