D. E. Shaw & Co. Inc. cut its holdings in shares of Myers Industries, Inc. (NYSE:MYE) by 46.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,288 shares of the industrial products company’s stock after selling 36,808 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 0.12% of Myers Industries worth $654,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quantamental Technologies LLC bought a new position in shares of Myers Industries in the fourth quarter worth approximately $30,000. Simplex Trading LLC bought a new position in shares of Myers Industries in the fourth quarter worth approximately $70,000. Oregon Public Employees Retirement Fund bought a new position in shares of Myers Industries in the fourth quarter worth approximately $203,000. NJ State Employees Deferred Compensation Plan bought a new position in shares of Myers Industries in the fourth quarter worth approximately $242,000. Finally, AQR Capital Management LLC bought a new position in shares of Myers Industries in the third quarter worth approximately $311,000. 90.18% of the stock is currently owned by institutional investors and hedge funds.
NYSE MYE traded up $0.20 on Friday, reaching $17.95. 124,481 shares of the company’s stock traded hands, compared to its average volume of 97,714. Myers Industries, Inc. has a 12 month low of $14.24 and a 12 month high of $25.70. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.88 and a quick ratio of 1.43. The stock has a market capitalization of $633.09 million, a P/E ratio of 23.62 and a beta of 1.69.
Separately, Zacks Investment Research cut shares of Myers Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, January 22nd. Six equities research analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and an average target price of $21.00.
About Myers Industries
Myers Industries, Inc manufactures and sells polymer products for industrial, agricultural, automotive, commercial, and consumer markets worldwide. The company's Material Handling segment provides plastic reusable material handling containers, pallets, small parts bins, bulk shipping containers, storage and organization products, and rotationally-molded plastic tanks for water, fuel, and waste handling applications; welded steel service carts, platform trucks, mobile work centers, racks, and cabinets; plastic trim and interior parts used in the production of seat components, consoles, and other applications in the recreational vehicle, marine, and industrial markets; and plastic fuel containers, portable marine fuel tanks and water containers, ammunition containers, and storage totes under the Buckhorn, Akro-Mils, Jamco Products, Ameri-Kart, and Scepter brands.
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