Bank of Montreal Can Purchases Shares of 69,543 Myers Industries, Inc. (NYSE:MYE)

Bank of Montreal Can acquired a new stake in shares of Myers Industries, Inc. (NYSE:MYE) in the second quarter, HoldingsChannel reports. The institutional investor acquired 69,543 shares of the industrial products company’s stock, valued at approximately $989,000.

A number of other hedge funds also recently made changes to their positions in MYE. nVerses Capital LLC bought a new position in Myers Industries in the 2nd quarter worth approximately $25,000. DekaBank Deutsche Girozentrale purchased a new stake in Myers Industries during the 1st quarter valued at $91,000. Covestor Ltd increased its stake in Myers Industries by 712,200.0% in the first quarter. Covestor Ltd now owns 7,123 shares of the industrial products company’s stock worth $165,000 after purchasing an additional 7,122 shares during the period. Central Pacific Bank Trust Division purchased a new stake in Myers Industries in the first quarter worth $228,000. Finally, Paloma Partners Management Co purchased a new stake in Myers Industries in the first quarter worth $254,000. 90.82% of the stock is currently owned by institutional investors.

Myers Industries Trading Up 1.7 %

Myers Industries stock opened at $12.61 on Monday. Myers Industries, Inc. has a one year low of $12.36 and a one year high of $23.63. The stock has a market cap of $468.88 million, a PE ratio of 11.90 and a beta of 1.21. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.16 and a current ratio of 1.81. The stock has a 50-day moving average of $14.15 and a two-hundred day moving average of $16.35.

Myers Industries (NYSE:MYE) last announced its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.08. Myers Industries had a return on equity of 16.27% and a net margin of 4.79%. The firm had revenue of $220.24 million during the quarter. During the same quarter in the previous year, the business earned $0.35 earnings per share. On average, research analysts anticipate that Myers Industries, Inc. will post 1.13 EPS for the current fiscal year.

Myers Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Friday, September 13th were given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 4.28%. The ex-dividend date was Friday, September 13th. Myers Industries’s dividend payout ratio is currently 50.94%.

Analyst Ratings Changes

Separately, KeyCorp dropped their price objective on Myers Industries from $30.00 to $27.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd.

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.