Fox Run Management L.L.C. Sells 8,113 Shares of Myers Industries, Inc. $MYE

Fox Run Management L.L.C. lessened its holdings in shares of Myers Industries, Inc. (NYSE:MYE) by 33.9% in the second quarter, Holdings Channel.com reports. The fund owned 15,791 shares of the industrial products company’s stock after selling 8,113 shares during the period. Fox Run Management L.L.C.’s holdings in Myers Industries were worth $229,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MYE. Huntington National Bank purchased a new position in Myers Industries during the 2nd quarter valued at $29,000. Nisa Investment Advisors LLC boosted its stake in shares of 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 valued at $54,000 after purchasing an additional 861 shares in the last quarter. CWM LLC increased its position in shares of Myers Industries by 829.7% during the first quarter. CWM LLC now owns 4,695 shares of the industrial products company’s stock valued at $56,000 after buying an additional 4,190 shares during the period. Ieq Capital LLC purchased a new position in shares of Myers Industries during the first quarter valued at about $119,000. Finally, Walleye Capital LLC bought a new position in Myers Industries in the first quarter worth about $186,000. Institutional investors own 90.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MYE. Wall Street Zen raised Myers Industries from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Weiss Ratings restated a “hold (c)” rating on shares of Myers Industries in a research report on Wednesday, October 8th. Finally, Zacks Research cut Myers Industries from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 23rd. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $21.00.

Myers Industries Price Performance

MYE stock opened at $17.68 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.12 and a current ratio of 1.77. The firm has a 50 day moving average price of $16.77 and a 200-day moving average price of $15.23. Myers Industries, Inc. has a 52-week low of $9.06 and a 52-week high of $18.29. The firm has a market capitalization of $661.52 million, a price-to-earnings ratio of 68.02 and a beta of 1.19.

Myers Industries (NYSE:MYE) last posted its quarterly earnings data on Thursday, October 30th. The industrial products company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. The company had revenue of $205.44 million during the quarter, compared to analyst estimates of $206.40 million. Myers Industries had a return on equity of 13.02% and a net margin of 1.20%. Equities research analysts forecast that Myers Industries, Inc. will post 0.95 EPS for the current fiscal year.

Myers Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Wednesday, December 3rd will be given a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Wednesday, December 3rd. Myers Industries’s payout ratio is currently 72.97%.

Insider Activity

In other news, Director Helmuth Ludwig purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were 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 in the company, valued at approximately $231,233.56. This trade represents a 59.27% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.85% of the stock is currently owned by corporate insiders.

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.