Myers Industries, Inc. (NYSE:MYE) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in Myers Industries, Inc. (NYSE:MYE) by 4.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 176,298 shares of the industrial products company’s stock after selling 8,434 shares during the period. Principal Financial Group Inc.’s holdings in Myers Industries were worth $2,436,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Barclays PLC boosted its holdings in Myers Industries by 464.7% in the third quarter. Barclays PLC now owns 74,072 shares of the industrial products company’s stock valued at $1,024,000 after purchasing an additional 60,954 shares during the period. Geode Capital Management LLC raised its position in Myers Industries by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 832,442 shares of the industrial products company’s stock valued at $11,507,000 after purchasing an additional 10,666 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Myers Industries by 2.3% during the third quarter. Wellington Management Group LLP now owns 323,538 shares of the industrial products company’s stock worth $4,471,000 after buying an additional 7,192 shares in the last quarter. State Street Corp increased its stake in shares of Myers Industries by 2.6% during the third quarter. State Street Corp now owns 1,374,246 shares of the industrial products company’s stock worth $19,176,000 after buying an additional 35,456 shares during the period. Finally, Point72 DIFC Ltd acquired a new stake in Myers Industries in the third quarter valued at approximately $28,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Insider Transactions at Myers Industries

In related news, CEO Dave Basque acquired 5,000 shares of Myers Industries stock in a transaction on Thursday, December 5th. The shares were bought at an average price of $12.13 per share, for a total transaction of $60,650.00. Following the completion of the purchase, the chief executive officer now directly owns 34,152 shares in the company, valued at $414,263.76. This trade represents a 17.15 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders bought a total of 19,500 shares of company stock worth $232,575 in the last ninety days. Insiders own 1.40% of the company’s stock.

Myers Industries Stock Performance

Shares of MYE stock opened at $10.97 on Friday. The stock has a market cap of $408.74 million, a PE ratio of 26.12 and a beta of 1.22. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.11 and a current ratio of 1.80. Myers Industries, Inc. has a 1 year low of $10.35 and a 1 year high of $23.63. The stock has a fifty day moving average price of $11.68 and a 200 day moving average price of $13.08.

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

Myers Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Tuesday, December 3rd were given a $0.135 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.54 annualized dividend and a dividend yield of 4.92%. Myers Industries’s dividend payout ratio is presently 128.57%.

Wall Street Analysts Forecast Growth

MYE has been the subject of a number of recent analyst reports. KeyCorp downgraded Myers Industries from an “overweight” rating to a “sector weight” rating in a report on Wednesday, November 6th. StockNews.com downgraded shares of Myers Industries from a “hold” rating to a “sell” rating in a research report on Friday, December 27th.

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.