Centiva Capital LP Cuts Stake in Myers Industries, Inc. (NYSE:MYE)

Centiva Capital LP decreased its position in Myers Industries, Inc. (NYSE:MYE) by 11.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,910 shares of the industrial products company’s stock after selling 2,314 shares during the period. Centiva Capital LP’s holdings in Myers Industries were worth $248,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new position in shares of Myers Industries during the 2nd quarter worth approximately $25,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Myers Industries in the third quarter worth $85,000. Quest Partners LLC acquired a new stake in Myers Industries in the third quarter valued at $150,000. Quantbot Technologies LP lifted its holdings in Myers Industries by 8.0% in the third quarter. Quantbot Technologies LP now owns 11,427 shares of the industrial products company’s stock valued at $158,000 after acquiring an additional 846 shares during the period. Finally, Gallacher Capital Management LLC acquired a new position in shares of Myers Industries during the 2nd quarter worth $186,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Myers Industries

In other news, CEO Dave Basque bought 5,000 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was purchased at an average price of $12.41 per share, with a total value of $62,050.00. Following the purchase, the chief executive officer now owns 39,152 shares of the company’s stock, valued at $485,876.32. This trade represents a 14.64 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders have purchased 19,500 shares of company stock valued at $232,575. 1.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

Myers Industries Stock Performance

NYSE MYE opened at $12.53 on Thursday. The business has a 50 day moving average price of $12.10 and a 200 day moving average price of $13.54. The company has a market capitalization of $466.87 million, a P/E ratio of 29.83 and a beta of 1.22. Myers Industries, Inc. has a 1-year low of $10.35 and a 1-year high of $23.63. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.80 and a quick ratio of 1.11.

Myers Industries (NYSE:MYE) last released its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.04). Myers Industries had a return on equity of 14.75% and a net margin of 1.88%. The business had revenue of $205.07 million during the quarter. During the same quarter in the previous year, the company earned $0.38 EPS. Sell-side analysts expect that Myers Industries, Inc. will post 0.95 EPS for the current fiscal year.

Myers Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 3rd will be given a dividend of $0.135 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.54 annualized dividend and a dividend yield of 4.31%. Myers Industries’s dividend payout ratio is currently 128.57%.

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.