Principal Financial Group Inc. Sells 8,434 Shares of Myers Industries, Inc. (NYSE:MYE)

Principal Financial Group Inc. reduced its holdings in shares of Myers Industries, Inc. (NYSE:MYE) by 4.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 176,298 shares of the industrial products company’s stock after selling 8,434 shares during the quarter. Principal Financial Group Inc.’s holdings in Myers Industries were worth $2,436,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Myers Industries by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 2,846,620 shares of the industrial products company’s stock valued at $65,956,000 after acquiring an additional 182,215 shares during the period. Victory Capital Management Inc. purchased a new stake in Myers Industries in the second quarter worth $13,684,000. American Century Companies Inc. raised its stake in shares of Myers Industries by 12.3% in the second quarter. American Century Companies Inc. now owns 556,131 shares of the industrial products company’s stock valued at $7,441,000 after buying an additional 60,935 shares during the period. ClariVest Asset Management LLC lifted its position in shares of Myers Industries by 60.0% during the 2nd quarter. ClariVest Asset Management LLC now owns 200,266 shares of the industrial products company’s stock valued at $2,680,000 after buying an additional 75,108 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted its position in shares of Myers Industries by 54.0% during the 2nd quarter. Panagora Asset Management Inc. now owns 188,566 shares of the industrial products company’s stock valued at $2,523,000 after buying an additional 66,084 shares during the last quarter. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Myers Industries Stock Down 0.9 %

MYE opened at $11.13 on Friday. Myers Industries, Inc. has a 12 month low of $10.35 and a 12 month high of $23.63. The company has a market cap of $414.52 million, a PE ratio of 26.49 and a beta of 1.23. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 1.36. The company has a 50 day moving average of $12.65 and a 200 day moving average of $13.99.

Myers Industries (NYSE:MYE) last posted its quarterly earnings results on Monday, November 4th. The industrial products company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.04). Myers Industries had a return on equity of 14.75% and a net margin of 1.88%. The company had revenue of $205.07 million during the quarter. During the same period in the prior year, the firm earned $0.38 earnings per share. On average, sell-side analysts expect that Myers Industries, Inc. will post 0.95 EPS for the current year.

Myers Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 4.85%. The ex-dividend date is Tuesday, December 3rd. Myers Industries’s dividend payout ratio is presently 128.57%.

Analyst Ratings Changes

Separately, KeyCorp cut Myers Industries from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, November 6th.

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.