Y Intercept Hong Kong Ltd Sells 53,112 Shares of Myers Industries, Inc. $MYE

Y Intercept Hong Kong Ltd lowered its holdings in shares of Myers Industries, Inc. (NYSE:MYE) by 75.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,526 shares of the industrial products company’s stock after selling 53,112 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Myers Industries were worth $371,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MYE. EverSource Wealth Advisors LLC lifted its holdings in Myers Industries by 372.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,900 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 1,498 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in Myers Industries during the 4th quarter valued at approximately $38,000. Quarry LP purchased a new stake in Myers Industries during the 3rd quarter valued at approximately $48,000. Aquatic Capital Management LLC purchased a new stake in Myers Industries during the 3rd quarter valued at approximately $61,000. Finally, Clearstead Advisors LLC raised its position in shares of Myers Industries by 56.0% during the fourth quarter. Clearstead Advisors LLC now owns 3,438 shares of the industrial products company’s stock valued at $64,000 after buying an additional 1,234 shares during the last quarter. Institutional investors own 90.82% of the company’s stock.

Myers Industries Stock Performance

NYSE:MYE opened at $30.95 on Wednesday. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 44.21 and a beta of 0.88. Myers Industries, Inc. has a 1 year low of $12.96 and a 1 year high of $35.75. The stock’s 50 day simple moving average is $26.23 and its two-hundred day simple moving average is $22.83. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.65 and a quick ratio of 1.29.

Myers Industries (NYSE:MYE) last posted its earnings results on Thursday, May 7th. The industrial products company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.16. Myers Industries had a return on equity of 17.23% and a net margin of 3.36%.The firm had revenue of $164.58 million during the quarter, compared to the consensus estimate of $209.30 million.

Myers Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Wednesday, June 17th were given a dividend of $0.135 per share. The ex-dividend date was Wednesday, June 17th. This represents a $0.54 annualized dividend and a yield of 1.7%. Myers Industries’s dividend payout ratio (DPR) is 77.14%.

Analyst Ratings Changes

Several research firms have recently commented on MYE. Weiss Ratings downgraded shares of Myers Industries from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. KeyCorp raised their target price on shares of Myers Industries from $26.00 to $37.00 and gave the company an “overweight” rating in a research note on Tuesday, June 30th. Finally, Wall Street Zen downgraded shares of Myers Industries from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Myers Industries currently has a consensus rating of “Hold” and an average price target of $37.00.

About Myers Industries

Myers Industries, Inc is a diversified manufacturer of polymer products serving industrial, commercial and consumer markets. The company designs, produces and markets a broad range of molded and fabricated plastic components, including pallets, bulk containers, tanks and drums used in material handling and storage applications. Myers Industries leverages proprietary polymer technologies to provide durable, reusable solutions that help customers optimize supply chain efficiency and reduce environmental impact.

Myers operates primarily through two business segments.