Moors & Cabot Inc. Has $630,000 Stock Position in Myers Industries, Inc. $MYE

Moors & Cabot Inc. lifted its stake in shares of Myers Industries, Inc. (NYSE:MYE) by 28.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 43,460 shares of the industrial products company’s stock after buying an additional 9,575 shares during the period. Moors & Cabot Inc.’s holdings in Myers Industries were worth $630,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Nisa Investment Advisors LLC grew its position in Myers Industries by 30.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 861 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Myers Industries by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,835 shares of the industrial products company’s stock worth $260,000 after purchasing an additional 936 shares during the last quarter. Fox Run Management L.L.C. grew its holdings in shares of Myers Industries by 5.0% during the first quarter. Fox Run Management L.L.C. now owns 23,904 shares of the industrial products company’s stock worth $285,000 after purchasing an additional 1,148 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Myers Industries by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 452,906 shares of the industrial products company’s stock valued at $6,563,000 after buying an additional 1,786 shares during the period. Finally, Huntington National Bank bought a new position in Myers Industries in the 2nd quarter valued at approximately $29,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Myers Industries Price Performance

MYE stock opened at $17.37 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.77 and a debt-to-equity ratio of 1.24. The firm has a market cap of $649.63 million, a price-to-earnings ratio of 66.79 and a beta of 1.19. The company’s fifty day simple moving average is $16.68 and its 200 day simple moving average is $15.01. Myers Industries, Inc. has a 12-month low of $9.06 and a 12-month high of $18.29.

Myers Industries (NYSE:MYE) last issued its quarterly earnings results on Thursday, October 30th. The industrial products company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01. The firm had revenue of $205.44 million during the quarter, compared to the consensus estimate of $206.40 million. Myers Industries had a return on equity of 13.02% and a net margin of 1.20%. On average, analysts expect that Myers Industries, Inc. will post 0.95 earnings per share for the current year.

Myers Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Wednesday, December 3rd will be issued a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Wednesday, December 3rd. Myers Industries’s dividend payout ratio is presently 72.97%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Myers Industries in a report on Wednesday, October 8th. Wall Street Zen upgraded Myers Industries from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Zacks Research downgraded Myers Industries from a “hold” rating to a “strong sell” rating in a report on Thursday, October 23rd. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $21.00.

Insider Buying and Selling at Myers Industries

In related news, Director Helmuth Ludwig acquired 5,000 shares of the stock in a transaction dated Monday, November 3rd. The stock was bought at an average price of $17.21 per share, for a total transaction of $86,050.00. Following the purchase, the director directly owned 13,436 shares of the company’s stock, valued at $231,233.56. The trade was a 59.27% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.85% of the stock is owned by corporate insiders.

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.