10,000 Shares in Myers Industries, Inc. (NYSE:MYE) Acquired by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division bought a new position in Myers Industries, Inc. (NYSE:MYE) in the 1st quarter, Holdings Channel reports. The fund bought 10,000 shares of the industrial products company’s stock, valued at approximately $228,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MYE. BNP Paribas Financial Markets grew its holdings in Myers Industries by 11.7% during the 1st quarter. BNP Paribas Financial Markets now owns 83,107 shares of the industrial products company’s stock valued at $1,926,000 after buying an additional 8,719 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Myers Industries by 0.3% during the 1st quarter. Principal Financial Group Inc. now owns 191,955 shares of the industrial products company’s stock valued at $4,448,000 after buying an additional 519 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Myers Industries by 9.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 306,175 shares of the industrial products company’s stock valued at $7,094,000 after buying an additional 26,504 shares in the last quarter. Hodges Capital Management Inc. purchased a new stake in Myers Industries during the 1st quarter valued at approximately $562,000. Finally, Counterpoint Mutual Funds LLC purchased a new stake in Myers Industries during the 1st quarter valued at approximately $268,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Myers Industries Price Performance

Shares of NYSE MYE traded up $0.01 during midday trading on Wednesday, reaching $12.72. 3,472 shares of the stock traded hands, compared to its average volume of 275,445. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.75 and a quick ratio of 1.10. The stock has a market capitalization of $472.93 million, a PE ratio of 11.99 and a beta of 1.20. Myers Industries, Inc. has a one year low of $12.47 and a one year high of $23.63. The company’s 50 day moving average is $15.69 and its 200 day moving average is $18.69.

Myers Industries (NYSE:MYE) last posted its earnings results on Tuesday, May 7th. The industrial products company reported $0.21 EPS for the quarter. The firm had revenue of $207.10 million during the quarter. Myers Industries had a return on equity of 15.99% and a net margin of 4.90%.

Myers Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Tuesday, June 18th were given a dividend of $0.135 per share. The ex-dividend date of this dividend was Tuesday, June 18th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.25%. Myers Industries’s dividend payout ratio is currently 50.94%.

Analysts Set New Price Targets

MYE has been the subject of a number of research analyst reports. KeyCorp increased their price objective on shares of Myers Industries from $22.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. StockNews.com lowered shares of Myers Industries from a “buy” rating to a “hold” rating in a report on Thursday, May 16th.

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.