Jump Financial LLC Grows Stock Holdings in Myers Industries, Inc. (NYSE:MYE)

Jump Financial LLC raised its stake in shares of Myers Industries, Inc. (NYSE:MYE - Free Report) by 177.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 62,090 shares of the industrial products company's stock after acquiring an additional 39,749 shares during the period. Jump Financial LLC owned approximately 0.17% of Myers Industries worth $685,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MYE. Sei Investments Co. raised its stake in shares of 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 purchasing an additional 2,788 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake 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 during the period. Wells Fargo & Company MN boosted its holdings in shares of Myers Industries by 32.9% in the fourth quarter. Wells Fargo & Company MN now owns 22,464 shares of the industrial products company's stock valued at $248,000 after acquiring an additional 5,566 shares in the last quarter. Inspire Investing LLC increased its stake in shares of Myers Industries by 20.4% during the fourth 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 period. Finally, Y Intercept Hong Kong Ltd raised its holdings in Myers Industries by 25.7% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 33,119 shares of the industrial products company's stock worth $366,000 after purchasing an additional 6,766 shares in the last quarter. 90.82% of the stock is owned by institutional investors and hedge funds.

Myers Industries Trading Up 4.6 %

NYSE: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 company has a debt-to-equity ratio of 1.36, a quick ratio of 1.11 and a current ratio of 1.80. The stock has a fifty day moving average price of $11.21 and a two-hundred day moving average price of $11.65. The stock has a market capitalization of $356.03 million, a price-to-earnings ratio of 22.73 and a beta of 1.08.

Myers Industries (NYSE:MYE - Get Free Report) last announced its quarterly 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 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 the consensus estimate of $203.10 million. As a group, sell-side analysts anticipate that Myers Industries, Inc. will post 0.95 earnings per share for the current fiscal year.

Myers Industries declared that its Board of Directors has authorized 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 an indication that the company's board of directors believes its stock is undervalued.

Myers Industries Announces Dividend

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

Analyst Upgrades and Downgrades

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

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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