Teton Advisors LLC Sells 39,000 Shares of Myers Industries, Inc. $MYE

Teton Advisors LLC trimmed its holdings in shares of Myers Industries, Inc. (NYSE:MYE) by 12.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 267,000 shares of the industrial products company’s stock after selling 39,000 shares during the quarter. Myers Industries comprises about 3.5% of Teton Advisors LLC’s investment portfolio, making the stock its largest holding. Teton Advisors LLC owned approximately 0.71% of Myers Industries worth $4,998,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. State of Alaska Department of Revenue acquired a new position in shares of Myers Industries during the 3rd quarter worth approximately $25,000. EverSource Wealth Advisors LLC boosted its stake in shares of Myers Industries by 372.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,900 shares of the industrial products company’s stock valued at $28,000 after buying an additional 1,498 shares during the period. Quarry LP bought a new stake in shares of Myers Industries in the third quarter valued at approximately $48,000. New York State Teachers Retirement System acquired a new stake in Myers Industries during the third quarter worth approximately $57,000. Finally, Aquatic Capital Management LLC bought a new position in Myers Industries during the 3rd quarter worth $61,000. Institutional investors own 90.82% of the company’s stock.

Myers Industries Stock Performance

Shares of NYSE:MYE opened at $22.16 on Monday. Myers Industries, Inc. has a 1 year low of $11.86 and a 1 year high of $24.25. The stock has a market capitalization of $832.14 million, a price-to-earnings ratio of 31.65 and a beta of 0.96. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.65 and a quick ratio of 1.29. The company’s 50 day simple moving average is $21.41 and its 200 day simple moving average is $20.23.

Myers Industries (NYSE:MYE) last released its earnings results on Thursday, May 7th. The industrial products company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.16. The firm had revenue of $164.58 million during the quarter, compared to analysts’ expectations of $209.30 million. Myers Industries had a return on equity of 17.23% and a net margin of 3.36%.

Myers Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 3rd. Investors of record on Friday, March 13th were paid a $0.135 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.54 annualized dividend and a yield of 2.4%. Myers Industries’s dividend payout ratio (DPR) is 77.14%.

Analyst Ratings Changes

Several brokerages have weighed in on MYE. Weiss Ratings cut Myers Industries from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Wall Street Zen cut Myers Industries from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $21.00.

Myers Industries Profile

Myers Industries, Inc is a diversified manufacturer of polymer products serving industrial, commercial and consumer markets. The company designs, produces and markets a broad range of molded and fabricated plastic components, including pallets, bulk containers, tanks and drums used in material handling and storage applications. Myers Industries leverages proprietary polymer technologies to provide durable, reusable solutions that help customers optimize supply chain efficiency and reduce environmental impact.

Myers operates primarily through two business segments.