Central Pacific Bank Trust Division Invests $228,000 in Myers Industries, Inc. (NYSE:MYE)

Central Pacific Bank Trust Division bought a new position in Myers Industries, Inc. (NYSE:MYE) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 10,000 shares of the industrial products company’s stock, valued at approximately $228,000.

Other large investors have also recently modified their holdings of the company. Pacer Advisors Inc. bought a new position in shares of Myers Industries in the fourth quarter valued at approximately $16,196,000. Hillsdale Investment Management Inc. bought a new position in shares of Myers Industries in the fourth quarter valued at approximately $3,959,000. Tieton Capital Management LLC boosted its position in shares of Myers Industries by 151.5% in the fourth quarter. Tieton Capital Management LLC now owns 183,450 shares of the industrial products company’s stock valued at $3,586,000 after acquiring an additional 110,505 shares during the period. Russell Investments Group Ltd. bought a new position in shares of Myers Industries in the fourth quarter valued at approximately $1,480,000. Finally, Trexquant Investment LP bought a new position in shares of Myers Industries in the fourth quarter valued at approximately $1,130,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Analysts Set New Price Targets

MYE has been the subject of a number of analyst reports. KeyCorp raised their price objective on shares of Myers Industries from $22.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. StockNews.com lowered shares of Myers Industries from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th.

Myers Industries Price Performance

Myers Industries stock traded up $0.01 during mid-day trading on Wednesday, hitting $12.72. 3,472 shares of the company traded hands, compared to its average volume of 275,445. Myers Industries, Inc. has a one year low of $12.47 and a one year high of $23.63. The stock has a market cap of $472.93 million, a price-to-earnings ratio of 11.99 and a beta of 1.20. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.10 and a current ratio of 1.75. The stock has a fifty day moving average price of $15.69 and a 200-day moving average price of $18.69.

Myers Industries (NYSE:MYE) last announced its earnings results on Tuesday, May 7th. The industrial products company reported $0.21 earnings per share (EPS) for the quarter. Myers Industries had a net margin of 4.90% and a return on equity of 15.99%. The business had revenue of $207.10 million during the quarter.

Myers Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Tuesday, June 18th were issued a $0.135 dividend. The ex-dividend date of this dividend was Tuesday, June 18th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.25%. Myers Industries’s payout ratio is 50.94%.

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.