Citigroup Inc. Has $245,000 Stock Holdings in Myers Industries, Inc. (NYSE:MYE)

Citigroup Inc. trimmed its stake in shares of Myers Industries, Inc. (NYSE:MYE) by 53.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,681 shares of the industrial products company’s stock after selling 15,400 shares during the quarter. Citigroup Inc.’s holdings in Myers Industries were worth $245,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MYE. BlackRock Inc. increased its position in Myers Industries by 0.3% in the 1st quarter. BlackRock Inc. now owns 5,787,756 shares of the industrial products company’s stock valued at $124,032,000 after acquiring an additional 19,757 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Myers Industries by 4.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 4,163,738 shares of the industrial products company’s stock worth $94,642,000 after acquiring an additional 180,298 shares in the last quarter. Gamco Investors INC. ET AL boosted its stake in Myers Industries by 0.5% during the first quarter. Gamco Investors INC. ET AL now owns 3,265,563 shares of the industrial products company’s stock worth $70,536,000 after acquiring an additional 14,867 shares in the last quarter. Vanguard Group Inc. boosted its stake in Myers Industries by 1.2% during the third quarter. Vanguard Group Inc. now owns 2,538,886 shares of the industrial products company’s stock worth $41,816,000 after acquiring an additional 30,878 shares in the last quarter. Finally, Gabelli Funds LLC boosted its stake in Myers Industries by 0.4% during the third quarter. Gabelli Funds LLC now owns 1,517,862 shares of the industrial products company’s stock worth $27,215,000 after acquiring an additional 5,512 shares in the last quarter. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Myers Industries Stock Performance

MYE opened at $23.21 on Thursday. The company has a current ratio of 1.55, a quick ratio of 1.00 and a debt-to-equity ratio of 0.14. The company’s fifty day moving average price is $19.91 and its two-hundred day moving average price is $18.66. Myers Industries, Inc. has a 1-year low of $15.65 and a 1-year high of $23.63. The company has a market cap of $857.35 million, a price-to-earnings ratio of 17.58 and a beta of 1.29.

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

Myers Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 4th. Shareholders of record on Saturday, March 16th will be given a dividend of $0.135 per share. The ex-dividend date is Thursday, March 14th. This represents a $0.54 dividend on an annualized basis and a yield of 2.33%. Myers Industries’s dividend payout ratio is presently 40.91%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. StockNews.com upgraded shares of Myers Industries from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 16th. KeyCorp upped their price objective on shares of Myers Industries from $22.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd.

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.