Myers Industries, Inc. $MYE Shares Sold by Barington Companies Management LLC

Barington Companies Management LLC lowered its position in Myers Industries, Inc. (NYSE:MYE) by 35.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 495,100 shares of the industrial products company’s stock after selling 275,000 shares during the quarter. Myers Industries accounts for about 6.1% of Barington Companies Management LLC’s holdings, making the stock its 7th largest position. Barington Companies Management LLC owned 1.32% of Myers Industries worth $9,268,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC lifted its position in Myers Industries by 372.6% in the second 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 during the period. Quarry LP acquired a new position in shares of Myers Industries in the 3rd quarter valued at $48,000. Aquatic Capital Management LLC acquired a new position in shares of Myers Industries in the 3rd quarter valued at $61,000. Clearstead Advisors LLC lifted its holdings in shares of Myers Industries by 56.0% during the 4th quarter. Clearstead Advisors LLC now owns 3,438 shares of the industrial products company’s stock worth $64,000 after acquiring an additional 1,234 shares during the period. Finally, Quantbot Technologies LP bought a new position in shares of Myers Industries during the 3rd quarter worth about $72,000. 90.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MYE shares. Weiss Ratings cut shares of Myers Industries from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Wall Street Zen downgraded Myers Industries from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Myers Industries currently has an average rating of “Hold”.

Myers Industries Stock Up 2.5%

Shares of NYSE MYE opened at $27.11 on Friday. Myers Industries, Inc. has a 12-month low of $12.96 and a 12-month high of $27.24. The firm’s 50-day simple moving average is $22.39 and its 200 day simple moving average is $21.06. The company has a quick ratio of 1.29, a current ratio of 1.65 and a debt-to-equity ratio of 1.04. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 38.72 and a beta of 0.98.

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

Myers Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Wednesday, June 17th will be issued a dividend of $0.135 per share. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $0.54 annualized dividend and a yield of 2.0%. Myers Industries’s dividend payout ratio is currently 77.14%.

Myers Industries Profile

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.