ExodusPoint Capital Management LP cut its holdings in Myers Industries, Inc. (NYSE:MYE - Free Report) by 63.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,346 shares of the industrial products company's stock after selling 104,965 shares during the quarter. ExodusPoint Capital Management LP owned 0.16% of Myers Industries worth $677,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of MYE. FMR LLC increased its holdings in Myers Industries by 14.6% in the third quarter. FMR LLC now owns 73,450 shares of the industrial products company's stock valued at $1,015,000 after buying an additional 9,349 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Myers Industries by 73.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 32,181 shares of the industrial products company's stock worth $445,000 after acquiring an additional 13,601 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Myers Industries by 11.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 78,978 shares of the industrial products company's stock valued at $1,091,000 after purchasing an additional 8,388 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Myers Industries during the third quarter worth $72,000. Finally, State Street Corp boosted its position in Myers Industries by 2.6% during the third quarter. State Street Corp now owns 1,374,246 shares of the industrial products company's stock worth $19,176,000 after purchasing an additional 35,456 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company's stock.
Myers Industries Price Performance
Shares of NYSE MYE traded down $0.11 on Tuesday, hitting $9.55. The company's stock had a trading volume of 242,802 shares, compared to its average volume of 330,379. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.80 and a quick ratio of 1.11. The stock has a 50 day moving average of $11.53 and a 200-day moving average of $11.79. Myers Industries, Inc. has a 12-month low of $9.06 and a 12-month high of $23.05. The company has a market capitalization of $356.33 million, a price-to-earnings ratio of 22.75 and a beta of 1.08.
Myers Industries (NYSE:MYE - Get Free Report) last posted 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. The firm had revenue of $203.88 million for the quarter, compared to analyst estimates of $203.10 million. Myers Industries had a return on equity of 14.75% and a net margin of 1.88%. As a group, research analysts predict that Myers Industries, Inc. will post 0.95 EPS for the current year.
Myers Industries Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were issued a $0.135 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.54 dividend on an annualized basis and a yield of 5.65%. Myers Industries's dividend payout ratio (DPR) is 284.21%.
Myers Industries announced that its Board of Directors has approved a share repurchase program on Thursday, March 6th that permits the company to buyback $10.00 million in shares. This buyback authorization permits the industrial products company to purchase up to 2.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.
Wall Street Analyst Weigh In
Separately, StockNews.com raised Myers Industries from a "sell" rating to a "hold" rating in a research note on Friday, March 7th.
Read Our Latest Report on MYE
Myers Industries Company Profile
(
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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