AlphaQuest LLC boosted its holdings in shares of Myers Industries, Inc. (NYSE:MYE - Free Report) by 307.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,109 shares of the industrial products company's stock after purchasing an additional 33,286 shares during the period. AlphaQuest LLC owned about 0.12% of Myers Industries worth $487,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MYE. Hotchkis & Wiley Capital Management LLC lifted its stake in Myers Industries by 60.2% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 624,010 shares of the industrial products company's stock worth $8,624,000 after purchasing an additional 234,390 shares during the period. Intech Investment Management LLC bought a new position in shares of Myers Industries in the third quarter valued at approximately $972,000. Barclays PLC raised its stake in shares of Myers Industries by 464.7% in the third quarter. Barclays PLC now owns 74,072 shares of the industrial products company's stock valued at $1,024,000 after acquiring an additional 60,954 shares during the last quarter. Tieton Capital Management LLC raised its stake in shares of Myers Industries by 32.1% in the third quarter. Tieton Capital Management LLC now owns 246,920 shares of the industrial products company's stock valued at $3,412,000 after acquiring an additional 59,995 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Myers Industries by 78.6% in the third quarter. JPMorgan Chase & Co. now owns 133,506 shares of the industrial products company's stock valued at $1,845,000 after acquiring an additional 58,761 shares during the last quarter. Institutional investors own 90.82% of the company's stock.
Myers Industries Stock Performance
NYSE:MYE opened at $12.85 on Thursday. Myers Industries, Inc. has a 1 year low of $9.32 and a 1 year high of $23.63. The firm has a 50 day moving average of $11.66 and a 200-day moving average of $12.30. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $478.64 million, a P/E ratio of 30.59 and a beta of 1.21.
Myers Industries (NYSE:MYE - Get Free Report) last posted its quarterly earnings data on Thursday, March 6th. The industrial products company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.09. Myers Industries had a net margin of 1.88% and a return on equity of 14.75%. The firm had revenue of $203.88 million during the quarter, compared to analysts' expectations of $203.10 million. As a group, sell-side analysts anticipate that Myers Industries, Inc. will post 0.95 EPS for the current fiscal year.
Myers Industries declared that its board has authorized a stock repurchase program on Thursday, March 6th that authorizes the company to repurchase $10.00 million in shares. This repurchase authorization authorizes the industrial products company to buy up to 2.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.
Myers Industries Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be given a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 4.20%. The ex-dividend date of this dividend is Friday, March 14th. Myers Industries's dividend payout ratio (DPR) is presently 284.21%.
Wall Street Analyst Weigh In
Separately, StockNews.com upgraded shares of Myers Industries from a "sell" rating to a "hold" rating in a research note on Friday, March 7th.
Get Our Latest Stock Report on MYE
About Myers Industries
(
Free Report)
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.
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