Catalyst Funds Management Pty Ltd Buys Shares of 36,800 Myers Industries, Inc. (NYSE:MYE)

Catalyst Funds Management Pty Ltd acquired a new stake in shares of Myers Industries, Inc. (NYSE:MYE - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 36,800 shares of the industrial products company's stock, valued at approximately $406,000. Catalyst Funds Management Pty Ltd owned about 0.10% of Myers Industries 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 the stock. Point72 DIFC Ltd acquired a new stake in shares of Myers Industries during the 3rd quarter worth about $28,000. Point72 Asset Management L.P. purchased a new stake in Myers Industries during the third quarter valued at about $72,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Myers Industries during the third quarter worth about $85,000. Aigen Investment Management LP acquired a new stake in Myers Industries during the 4th quarter worth approximately $138,000. Finally, Quest Partners LLC purchased a new position in shares of Myers Industries in the 3rd quarter valued at $150,000. Hedge funds and other institutional investors own 90.82% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Myers Industries from a "sell" rating to a "hold" rating in a report on Friday, March 7th.

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Myers Industries Stock Down 2.2 %

NYSE MYE traded down $0.28 on Thursday, reaching $12.49. The company had a trading volume of 249,924 shares, compared to its average volume of 342,406. The firm has a market capitalization of $465.83 million, a PE ratio of 29.74 and a beta of 1.21. The firm has a 50-day moving average of $11.84 and a 200-day moving average of $12.21. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.80 and a quick ratio of 1.11. Myers Industries, Inc. has a 1 year low of $9.32 and a 1 year high of $23.63.

Myers Industries (NYSE:MYE - Get Free Report) last announced its earnings results on Thursday, March 6th. The industrial products company reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.09. Myers Industries had a return on equity of 14.75% and a net margin of 1.88%. The company had revenue of $203.88 million for the quarter, compared to analyst estimates of $203.10 million. On average, equities research analysts anticipate that Myers Industries, Inc. will post 0.95 EPS for the current fiscal year.

Myers Industries Dividend Announcement

The firm 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 dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date of this dividend is Friday, March 14th. Myers Industries's dividend payout ratio is presently 284.21%.

Myers Industries declared that its Board of Directors has initiated a share buyback program on Thursday, March 6th that allows the company to repurchase $10.00 million in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 2.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

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.