Quantbot Technologies LP Has $31,000 Position in Myers Industries, Inc. $MYE

Key Points

• Quantbot Technologies LP significantly reduced its stake in Myers Industries, Inc. by 91.8%, holding only 2,575 shares after a sale of 29,005 shares during the first quarter, valued at $31,000.
• Myers Industries has seen changes in institutional holdings, with Fox Run Management increasing its position by 5.0% and GAMMA Investing increasing holdings by an impressive 586.6% in the same period.
• The company recently reported a quarterly earnings miss, with $0.31 earnings per share, slightly below expectations, and announced a quarterly dividend of $0.135 per share with an annual yield of 3.2%.

Quantbot Technologies LP lessened its stake in shares of Myers Industries, Inc. (NYSE:MYE - Free Report) by 91.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,575 shares of the industrial products company's stock after selling 29,005 shares during the quarter. Quantbot Technologies LP's holdings in Myers Industries were worth $31,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Fox Run Management L.L.C. increased its holdings in shares of Myers Industries by 5.0% during the first quarter. Fox Run Management L.L.C. now owns 23,904 shares of the industrial products company's stock valued at $285,000 after acquiring an additional 1,148 shares in the last quarter. GAMMA Investing LLC raised its stake in Myers Industries by 586.6% during the 1st quarter. GAMMA Investing LLC now owns 2,609 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 2,229 shares during the period. Rhumbline Advisers increased its stake in Myers Industries by 4.6% in the 1st 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 during the last quarter. Aquatic Capital Management LLC boosted its holdings in Myers Industries by 103.1% during the 4th quarter. Aquatic Capital Management LLC now owns 5,484 shares of the industrial products company's stock valued at $61,000 after acquiring an additional 2,784 shares during the period. Finally, CWM LLC grew its position in shares of Myers Industries by 829.7% during the 1st quarter. CWM LLC now owns 4,695 shares of the industrial products company's stock worth $56,000 after buying an additional 4,190 shares in the last quarter. Institutional investors own 90.82% of the company's stock.

Myers Industries Stock Down 3.3%

Shares of NYSE MYE traded down $0.55 on Friday, hitting $16.18. The company had a trading volume of 39,674 shares, compared to its average volume of 280,206. Myers Industries, Inc. has a 12-month low of $9.06 and a 12-month high of $17.12. The business has a 50 day moving average of $15.67 and a two-hundred day moving average of $13.25. The company has a quick ratio of 1.12, a current ratio of 1.77 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $605.11 million, a P/E ratio of 62.18 and a beta of 1.19.

Myers Industries (NYSE:MYE - Get Free Report) last posted its earnings results on Thursday, July 31st. The industrial products company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.01). Myers Industries had a return on equity of 13.02% and a net margin of 1.20%.The firm had revenue of $209.58 million during the quarter, compared to the consensus estimate of $220.60 million. As a group, equities research analysts forecast that Myers Industries, Inc. will post 0.95 earnings per share for the current fiscal year.

Myers Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Friday, September 12th will be paid a dividend of $0.135 per share. The ex-dividend date is Friday, September 12th. This represents a $0.54 annualized dividend and a yield of 3.3%. Myers Industries's dividend payout ratio is presently 207.69%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Wall Street Zen upgraded Myers Industries from a "hold" rating to a "buy" rating in a research report on Sunday, June 22nd. KeyCorp raised Myers Industries from a "sector weight" rating to an "overweight" rating and set a $21.00 target price on the stock in a research note on Friday, June 13th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average 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.