Short Interest in Myers Industries, Inc. (NYSE:MYE) Increases By 25.0%

Myers Industries, Inc. (NYSE:MYE) was the target of a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 864,800 shares, an increase of 25.0% from the June 30th total of 692,100 shares. Based on an average daily volume of 287,700 shares, the short-interest ratio is currently 3.0 days.

Myers Industries Stock Performance

Shares of NYSE MYE traded up $0.12 during mid-day trading on Tuesday, hitting $14.60. The company had a trading volume of 1,118 shares, compared to its average volume of 268,299. Myers Industries has a 12 month low of $12.47 and a 12 month high of $23.63. 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 cap of $542.83 million, a price-to-earnings ratio of 13.66 and a beta of 1.21. The firm’s 50 day simple moving average is $14.52 and its two-hundred day simple moving average is $18.20.

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

Myers Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Tuesday, June 18th were given a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend was Tuesday, June 18th. Myers Industries’s dividend payout ratio is currently 50.94%.

Institutional Trading of Myers Industries

Several large investors have recently added to or reduced their stakes in MYE. Quest Partners LLC acquired a new position in shares of Myers Industries during the 4th quarter valued at $54,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Myers Industries during the 1st quarter valued at $91,000. Covestor Ltd increased its position in shares of Myers Industries by 712,200.0% during the 1st quarter. Covestor Ltd now owns 7,123 shares of the industrial products company’s stock valued at $165,000 after purchasing an additional 7,122 shares during the period. Central Pacific Bank Trust Division acquired a new position in shares of Myers Industries in the 1st quarter worth $228,000. Finally, Paloma Partners Management Co acquired a new position in shares of Myers Industries in the 1st quarter worth $254,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Myers Industries from a “buy” rating to a “hold” rating in a report on Thursday, May 16th.

Myers Industries Company 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.