Tieton Capital Management LLC Buys 57,410 Shares of Myers Industries, Inc. (NYSE:MYE)

Tieton Capital Management LLC grew its position in Myers Industries, Inc. (NYSE:MYE - Free Report) by 23.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 304,330 shares of the industrial products company's stock after buying an additional 57,410 shares during the period. Myers Industries makes up 1.4% of Tieton Capital Management LLC's portfolio, making the stock its 27th largest position. Tieton Capital Management LLC owned approximately 0.82% of Myers Industries worth $3,360,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in MYE. State Street Corp grew its stake in Myers Industries by 2.6% in the third quarter. State Street Corp now owns 1,374,246 shares of the industrial products company's stock valued at $19,176,000 after acquiring an additional 35,456 shares during the period. Geode Capital Management LLC grew its position in shares of Myers Industries by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 832,442 shares of the industrial products company's stock valued at $11,507,000 after purchasing an additional 10,666 shares during the period. Hotchkis & Wiley Capital Management LLC grew its position in shares of Myers Industries by 60.2% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 624,010 shares of the industrial products company's stock valued at $8,624,000 after purchasing an additional 234,390 shares during the period. Wellington Management Group LLP increased its stake in Myers Industries by 2.3% during the 3rd quarter. Wellington Management Group LLP now owns 323,538 shares of the industrial products company's stock worth $4,471,000 after purchasing an additional 7,192 shares in the last quarter. Finally, Boston Partners raised its holdings in Myers Industries by 105.5% during the 4th quarter. Boston Partners now owns 187,073 shares of the industrial products company's stock worth $2,065,000 after buying an additional 96,022 shares during the period. Institutional investors own 90.82% of the company's stock.

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Myers Industries Stock Down 3.3 %

Myers Industries stock traded down $0.41 during mid-day trading on Friday, reaching $11.87. The company's stock had a trading volume of 207,055 shares, compared to its average volume of 323,084. The business's 50 day simple moving average is $11.97 and its 200 day simple moving average is $12.11. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.11 and a current ratio of 1.80. Myers Industries, Inc. has a 12 month low of $9.32 and a 12 month high of $23.22. The company has a market capitalization of $442.52 million, a price-to-earnings ratio of 28.25 and a beta of 1.21.

Myers Industries (NYSE:MYE - Get Free Report) last announced its quarterly earnings data on Thursday, March 6th. The industrial products company reported $0.19 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $203.10 million. As a group, research analysts anticipate that Myers Industries, Inc. will post 0.95 earnings per share for the current year.

Myers Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 4.55%. The ex-dividend date of this dividend is Friday, March 14th. Myers Industries's dividend payout ratio (DPR) is currently 284.21%.

Myers Industries declared that its board has authorized a stock repurchase program on Thursday, March 6th that permits the company to buyback $10.00 million in outstanding 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 often a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

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

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.