Barington Companies Management LLC Has $9.27 Million Stock Holdings in Myers Industries, Inc. $MYE

Barington Companies Management LLC cut its holdings in shares of Myers Industries, Inc. (NYSE:MYE) by 35.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 495,100 shares of the industrial products company’s stock after selling 275,000 shares during the period. Myers Industries accounts for approximately 6.1% of Barington Companies Management LLC’s holdings, making the stock its 7th biggest holding. Barington Companies Management LLC’s holdings in Myers Industries were worth $9,268,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of MYE. EverSource Wealth Advisors LLC boosted its stake in 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 acquiring an additional 1,498 shares during the last quarter. Quarry LP bought a new stake in Myers Industries in the third quarter valued at about $48,000. Aquatic Capital Management LLC bought a new position in Myers Industries during the third quarter worth about $61,000. Clearstead Advisors LLC increased its stake in shares of Myers Industries by 56.0% in the 4th quarter. Clearstead Advisors LLC now owns 3,438 shares of the industrial products company’s stock valued at $64,000 after acquiring an additional 1,234 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Myers Industries in the 3rd quarter valued at approximately $72,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Myers Industries Stock Up 2.5%

Shares of Myers Industries stock opened at $27.11 on Friday. Myers Industries, Inc. has a 1 year low of $12.96 and a 1 year high of $27.24. The business has a 50-day moving average of $22.39 and a two-hundred day moving average of $21.06. The company has a market capitalization of $1.02 billion, a P/E ratio of 38.72 and a beta of 0.98. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.65 and a quick ratio of 1.29.

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

Myers Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Wednesday, June 17th will be paid a $0.135 dividend. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $0.54 dividend on an annualized basis and a yield of 2.0%. Myers Industries’s payout ratio is presently 77.14%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Weiss Ratings cut shares of Myers Industries from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Wall Street Zen lowered shares of Myers Industries from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Myers Industries currently has an average rating of “Hold”.

About Myers Industries

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.