Voya Investment Management LLC Has $131,000 Stock Position in Myers Industries, Inc. (NYSE:MYE)

Voya Investment Management LLC cut its holdings in shares of Myers Industries, Inc. (NYSE:MYE) by 60.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 11,829 shares of the industrial products company’s stock after selling 18,099 shares during the quarter. Voya Investment Management LLC’s holdings in Myers Industries were worth $131,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Aigen Investment Management LP bought a new position in Myers Industries during the 4th quarter worth approximately $138,000. Polymer Capital Management US LLC acquired a new position in shares of Myers Industries in the fourth quarter valued at about $228,000. Wells Fargo & Company MN grew its stake in shares of Myers Industries by 32.9% in the fourth quarter. Wells Fargo & Company MN now owns 22,464 shares of the industrial products company’s stock valued at $248,000 after acquiring an additional 5,566 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Myers Industries during the 4th quarter worth $251,000. Finally, Versor Investments LP boosted its stake in Myers Industries by 49.4% in the fourth quarter. Versor Investments LP now owns 23,600 shares of the industrial products company’s stock valued at $261,000 after buying an additional 7,800 shares in the last quarter. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Myers Industries Trading Down 1.1%

Shares of MYE stock opened at $12.45 on Thursday. The company has a market cap of $465.41 million, a P/E ratio of 29.64 and a beta of 1.08. The stock has a 50 day simple moving average of $11.24 and a two-hundred day simple moving average of $11.50. 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 fifty-two week low of $9.06 and a fifty-two week high of $17.39.

Myers Industries (NYSE:MYE) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.19 by $0.03. Myers Industries had a return on equity of 14.75% and a net margin of 1.88%. The firm had revenue of $206.75 million during the quarter, compared to the consensus estimate of $206.80 million. Research analysts forecast that Myers Industries, Inc. will post 0.95 earnings per share for the current year.

Myers Industries declared that its Board of Directors has approved a share repurchase plan on Thursday, March 6th that permits the company to buyback $10.00 million in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 2.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Myers Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were given a $0.135 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.54 annualized dividend and a yield of 4.34%. Myers Industries’s dividend payout ratio is currently 192.86%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Myers Industries from a “sell” rating to a “hold” rating in a research note on Friday, March 7th.

Myers Industries 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.