Millennium Management LLC decreased its position in Myers Industries, Inc. (NYSE:MYE) by 90.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,679 shares of the industrial products company’s stock after selling 117,146 shares during the quarter. Millennium Management LLC’s holdings in Myers Industries were worth $206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in the business. Squarepoint Ops LLC increased its stake in Myers Industries by 72.9% in the 3rd quarter. Squarepoint Ops LLC now owns 83,333 shares of the industrial products company’s stock worth $1,471,000 after acquiring an additional 35,140 shares during the last quarter. California State Teachers Retirement System increased its stake in Myers Industries by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 55,278 shares of the industrial products company’s stock worth $976,000 after acquiring an additional 660 shares during the last quarter. State Street Corp increased its stake in Myers Industries by 1.9% in the 3rd quarter. State Street Corp now owns 1,016,764 shares of the industrial products company’s stock worth $18,082,000 after acquiring an additional 18,902 shares during the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Myers Industries in the 3rd quarter worth approximately $42,000. Finally, SG Americas Securities LLC purchased a new position in shares of Myers Industries in the 3rd quarter worth approximately $110,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.
In other Myers Industries news, Director Ronald M. Defeo acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was bought at an average price of $16.25 per share, for a total transaction of $162,500.00. Following the acquisition, the director now directly owns 11,570 shares in the company, valued at $188,012.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.84% of the stock is currently owned by insiders.
Shares of Myers Industries stock opened at $16.68 on Wednesday. The stock has a market cap of $586.08 million, a price-to-earnings ratio of 21.95 and a beta of 1.56. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.61 and a current ratio of 2.10. The stock has a 50 day moving average price of $16.63 and a 200-day moving average price of $17.03. Myers Industries, Inc. has a one year low of $14.64 and a one year high of $19.55.
Myers Industries (NYSE:MYE) last announced its earnings results on Tuesday, November 5th. The industrial products company reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.01. The firm had revenue of $125.48 million during the quarter, compared to analysts’ expectations of $134.90 million. Myers Industries had a return on equity of 17.53% and a net margin of 3.90%. The company’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.15 EPS. Sell-side analysts predict that Myers Industries, Inc. will post 0.77 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date is Thursday, December 5th. Myers Industries’s dividend payout ratio (DPR) is 71.05%.
A number of equities analysts have recently commented on MYE shares. Zacks Investment Research upgraded Myers Industries from a “sell” rating to a “hold” rating in a report on Thursday, December 19th. ValuEngine upgraded Myers Industries from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th.
About Myers Industries
Myers Industries, Inc manufactures and sells polymer products for industrial, agricultural, automotive, commercial, and consumer markets worldwide. The company’s Material Handling segment provides plastic reusable material handling containers, pallets, small parts bins, bulk shipping containers, storage and organization products, and rotationally-molded plastic tanks for water, fuel, and waste handling applications; welded steel service carts, platform trucks, mobile work centers, racks, and cabinets; plastic trim and interior parts used in the production of seat components, consoles, and other applications in the recreational vehicle, marine, and industrial markets; and plastic fuel containers, portable marine fuel tanks and water containers, ammunition containers, and storage totes under the Buckhorn, Akro-Mils, Jamco Products, Ameri-Kart, and Scepter brands.
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