Fox Run Management L.L.C. Purchases Shares of 22,756 Myers Industries, Inc. (NYSE:MYE)

Fox Run Management L.L.C. bought a new stake in Myers Industries, Inc. (NYSE:MYE - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 22,756 shares of the industrial products company's stock, valued at approximately $251,000. Fox Run Management L.L.C. owned about 0.06% of Myers Industries as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new stake in shares of Myers Industries in the 3rd quarter valued at $28,000. Point72 Asset Management L.P. purchased a new stake in Myers Industries during the third quarter worth about $72,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Myers Industries during the third quarter worth about $85,000. Aigen Investment Management LP acquired a new stake in shares of Myers Industries during the fourth quarter worth about $138,000. Finally, Quest Partners LLC purchased a new position in shares of Myers Industries in the third quarter valued at approximately $150,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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Myers Industries Stock Up 3.0 %

MYE traded up $0.36 on Tuesday, hitting $12.29. 411,244 shares of the company were exchanged, compared to its average volume of 324,014. The firm has a 50-day moving average price of $11.98 and a two-hundred day moving average price of $12.08. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 1.36. Myers Industries, Inc. has a twelve month low of $9.32 and a twelve month high of $23.05. The company has a market cap of $458.18 million, a price-to-earnings ratio of 29.25 and a beta of 1.21.

Myers Industries (NYSE:MYE - Get Free Report) last released its earnings results on Thursday, March 6th. The industrial products company reported $0.19 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $203.10 million. On average, equities analysts predict that Myers Industries, Inc. will post 0.95 earnings per share for the current year.

Myers Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be paid a dividend of $0.135 per share. The ex-dividend date is Friday, March 14th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.40%. Myers Industries's payout ratio is currently 284.21%.

Myers Industries announced that its Board of Directors has initiated a share buyback program on Thursday, March 6th that allows the company to buyback $10.00 million in shares. This buyback authorization allows the industrial products company to purchase up to 2.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

About Myers Industries

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.