JPMorgan Chase & Co. Has $2.51 Million Stock Holdings in Myers Industries, Inc. (NYSE:MYE)

JPMorgan Chase & Co. lifted its position in Myers Industries, Inc. (NYSE:MYE - Free Report) by 70.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 227,635 shares of the industrial products company's stock after purchasing an additional 94,129 shares during the quarter. JPMorgan Chase & Co. owned 0.61% of Myers Industries worth $2,513,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Sei Investments Co. grew its stake in Myers Industries by 3.8% during the fourth quarter. Sei Investments Co. now owns 76,288 shares of the industrial products company's stock worth $842,000 after buying an additional 2,788 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Myers Industries by 18.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 24,778 shares of the industrial products company's stock worth $274,000 after acquiring an additional 3,793 shares in the last quarter. Inspire Investing LLC grew its position in Myers Industries by 20.4% during the 4th quarter. Inspire Investing LLC now owns 36,291 shares of the industrial products company's stock worth $401,000 after acquiring an additional 6,153 shares during the last quarter. Y Intercept Hong Kong Ltd increased its holdings in Myers Industries by 25.7% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 33,119 shares of the industrial products company's stock valued at $366,000 after purchasing an additional 6,766 shares in the last quarter. Finally, Versor Investments LP raised its position in Myers Industries by 49.4% in the 4th quarter. Versor Investments LP now owns 23,600 shares of the industrial products company's stock valued at $261,000 after purchasing an additional 7,800 shares during the last quarter. Institutional investors and hedge funds 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.

Myers Industries Trading Up 4.6 %

MYE opened at $9.55 on Wednesday. Myers Industries, Inc. has a 1-year low of $9.06 and a 1-year high of $23.05. The stock has a market capitalization of $356.03 million, a PE ratio of 22.73 and a beta of 1.08. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 1.36. The firm has a 50-day moving average price of $11.21 and a two-hundred day moving average price of $11.65.

Myers Industries (NYSE:MYE - Get Free Report) last issued its quarterly earnings results on Thursday, March 6th. The industrial products company reported $0.19 earnings per share for the quarter, beating 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 business had revenue of $203.88 million during the quarter, compared to analyst estimates of $203.10 million. As a group, equities analysts anticipate that Myers Industries, Inc. will post 0.95 earnings per share for the current fiscal year.

Myers Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were given a dividend of $0.135 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 5.66%. Myers Industries's payout ratio is currently 284.21%.

Myers Industries announced that its Board of Directors has approved a share buyback program on Thursday, March 6th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the industrial products company to repurchase up to 2.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Myers Industries Company 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.

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