Quantbot Technologies LP Decreases Stock Holdings 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 trimmed its holdings in Myers Industries, Inc. (NYSE:MYE - Free Report) by 91.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of MYE. Wells Fargo & Company MN lifted its stake in Myers Industries by 32.9% in the 4th quarter. Wells Fargo & Company MN now owns 22,464 shares of the industrial products company's stock worth $248,000 after purchasing an additional 5,566 shares in the last quarter. Barclays PLC lifted its stake in Myers Industries by 17.6% in the 4th quarter. Barclays PLC now owns 87,093 shares of the industrial products company's stock worth $962,000 after purchasing an additional 13,021 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Myers Industries by 747.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 25,188 shares of the industrial products company's stock worth $278,000 after purchasing an additional 22,215 shares in the last quarter. Aquatic Capital Management LLC lifted its stake in 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 worth $61,000 after purchasing an additional 2,784 shares in the last quarter. Finally, Tudor Investment Corp ET AL lifted its stake in Myers Industries by 55.0% in the 4th quarter. Tudor Investment Corp ET AL now owns 125,441 shares of the industrial products company's stock worth $1,385,000 after purchasing an additional 44,522 shares in the last quarter. 90.82% of the stock is owned by hedge funds and other institutional investors.

Myers Industries Trading Up 1.5%

Myers Industries stock traded up $0.24 during trading on Thursday, hitting $16.63. The company had a trading volume of 54,955 shares, compared to its average volume of 281,149. Myers Industries, Inc. has a 1-year low of $9.06 and a 1-year high of $17.12. The company has a current ratio of 1.77, a quick ratio of 1.12 and a debt-to-equity ratio of 1.24. The company's 50 day simple moving average is $15.63 and its 200-day simple moving average is $13.22. The stock has a market cap of $622.13 million, a price-to-earnings ratio of 63.96 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 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.01). Myers Industries had a net margin of 1.20% and a return on equity of 13.02%. The company had revenue of $209.58 million during the quarter, compared to analyst estimates of $220.60 million. As a group, analysts expect that Myers Industries, Inc. will post 0.95 EPS for the current fiscal year.

Myers Industries Dividend Announcement

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 issued a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 3.2%. Myers Industries's dividend payout ratio (DPR) is presently 207.69%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. KeyCorp upgraded shares of Myers Industries from a "sector weight" rating to an "overweight" rating and set a $21.00 price target for the company in a report on Friday, June 13th. Wall Street Zen upgraded shares of 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, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $21.00.

Myers Industries Company 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.