Point72 Asset Management L.P. Takes Position in Myers Industries, Inc. (NYSE:MYE)

Point72 Asset Management L.P. acquired a new position in Myers Industries, Inc. (NYSE:MYE) during the third quarter, Holdings Channel reports. The institutional investor acquired 5,200 shares of the industrial products company’s stock, valued at approximately $72,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Panagora Asset Management Inc. increased its stake in shares of Myers Industries by 54.0% during the 2nd quarter. Panagora Asset Management Inc. now owns 188,566 shares of the industrial products company’s stock worth $2,523,000 after purchasing an additional 66,084 shares during the last quarter. nVerses Capital LLC bought a new position in Myers Industries during the second quarter valued at about $25,000. Hodges Capital Management Inc. lifted its position in shares of Myers Industries by 336.3% in the second quarter. Hodges Capital Management Inc. now owns 105,800 shares of the industrial products company’s stock worth $1,416,000 after buying an additional 81,550 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of Myers Industries during the 2nd quarter worth about $13,684,000. Finally, Los Angeles Capital Management LLC increased its holdings in shares of Myers Industries by 324.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 61,664 shares of the industrial products company’s stock valued at $825,000 after acquiring an additional 47,144 shares during the last quarter. Institutional investors own 90.82% of the company’s stock.

Insider Transactions at Myers Industries

In related news, CEO Dave Basque acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were bought at an average price of $11.33 per share, for a total transaction of $56,650.00. Following the acquisition, the chief executive officer now owns 29,152 shares in the company, valued at $330,292.16. This trade represents a 20.70 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders acquired a total of 19,500 shares of company stock worth $232,575 over the last three months. 1.40% of the stock is currently owned by insiders.

Myers Industries Stock Performance

NYSE:MYE opened at $12.30 on Friday. The firm has a market capitalization of $458.30 million, a PE ratio of 29.29 and a beta of 1.22. Myers Industries, Inc. has a 1 year low of $10.35 and a 1 year high of $23.63. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 1.36. The firm’s fifty day simple moving average is $12.09 and its 200 day simple moving average is $13.51.

Myers Industries (NYSE:MYE) last released its quarterly earnings results on Monday, November 4th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.04). The firm had revenue of $205.07 million for the quarter. Myers Industries had a net margin of 1.88% and a return on equity of 14.75%. During the same period last year, the business earned $0.38 EPS. On average, sell-side analysts anticipate that Myers Industries, Inc. will post 0.95 EPS for the current year.

Myers Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 3rd will be given a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 4.39%. The ex-dividend date is Tuesday, December 3rd. Myers Industries’s dividend payout ratio is currently 128.57%.

Wall Street Analysts Forecast Growth

Separately, KeyCorp cut Myers Industries from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, November 6th.

About Myers Industries

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.