LSV Asset Management Sells 401,368 Shares of Myers Industries, Inc. (NYSE:MYE)

LSV Asset Management trimmed its position in shares of Myers Industries, Inc. (NYSE:MYE - Free Report) by 89.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,158 shares of the industrial products company's stock after selling 401,368 shares during the quarter. LSV Asset Management owned approximately 0.13% of Myers Industries worth $961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Gamco Investors INC. ET AL lifted its stake in Myers Industries by 0.3% in the third quarter. Gamco Investors INC. ET AL now owns 3,175,829 shares of the industrial products company's stock valued at $56,943,000 after acquiring an additional 9,550 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Myers Industries by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 2,583,805 shares of the industrial products company's stock valued at $46,328,000 after purchasing an additional 16,043 shares during the last quarter. Gabelli Funds LLC boosted its holdings in Myers Industries by 0.4% in the third quarter. Gabelli Funds LLC now owns 1,517,862 shares of the industrial products company's stock worth $27,215,000 after purchasing an additional 5,512 shares in the last quarter. Pacer Advisors Inc. acquired a new position in Myers Industries during the fourth quarter worth $16,196,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Myers Industries by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 463,843 shares of the industrial products company's stock valued at $8,317,000 after buying an additional 16,557 shares in the last quarter. Institutional investors own 90.82% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on MYE shares. StockNews.com downgraded Myers Industries from a "strong-buy" rating to a "buy" rating in a research note on Wednesday. KeyCorp upped their target price on Myers Industries from $22.00 to $30.00 and gave the stock an "overweight" rating in a research report on Friday, March 22nd.

Myers Industries Stock Performance

NYSE:MYE traded down $0.15 during midday trading on Friday, reaching $17.04. The stock had a trading volume of 313,658 shares, compared to its average volume of 262,402. The stock has a market capitalization of $629.46 million, a P/E ratio of 13.02 and a beta of 1.31. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.55 and a quick ratio of 1.00. Myers Industries, Inc. has a 1-year low of $15.65 and a 1-year high of $23.63. The firm's fifty day simple moving average is $21.61 and its 200-day simple moving average is $19.52.

Myers Industries (NYSE:MYE - Get Free Report) last issued its quarterly earnings results on Tuesday, March 5th. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.03. Myers Industries had a return on equity of 18.55% and a net margin of 6.01%. The company had revenue of $191.08 million for the quarter, compared to the consensus estimate of $191.60 million. During the same period last year, the business posted $0.32 earnings per share. On average, equities research analysts forecast that Myers Industries, Inc. will post 1.38 EPS for the current fiscal year.

Myers Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Saturday, March 16th were issued a dividend of $0.135 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.17%. Myers Industries's dividend payout ratio (DPR) is presently 40.91%.

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.