Quantessence Capital LLC acquired a new stake in shares of Myers Industries, Inc. (NYSE:MYE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 62,544 shares of the industrial products company's stock, valued at approximately $690,000. Quantessence Capital LLC owned 0.17% of Myers Industries as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in MYE. Aigen Investment Management LP acquired a new stake in Myers Industries during the 4th quarter valued at approximately $138,000. Polymer Capital Management US LLC purchased a new position in shares of Myers Industries during the 4th quarter valued at approximately $228,000. Wells Fargo & Company MN grew its position in shares of Myers Industries by 32.9% during the fourth quarter. Wells Fargo & Company MN now owns 22,464 shares of the industrial products company's stock worth $248,000 after buying an additional 5,566 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Myers Industries in the fourth quarter worth $251,000. Finally, Versor Investments LP raised its holdings in Myers Industries by 49.4% in the fourth quarter. Versor Investments LP now owns 23,600 shares of the industrial products company's stock valued at $261,000 after acquiring an additional 7,800 shares in the last quarter. 90.82% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Separately, StockNews.com raised shares of Myers Industries from a "sell" rating to a "hold" rating in a report on Friday, March 7th.
Read Our Latest Research Report on Myers Industries
Myers Industries Stock Down 0.3 %
Myers Industries stock traded down $0.03 during midday trading on Friday, hitting $10.30. The stock had a trading volume of 218,510 shares, compared to its average volume of 334,478. The business has a fifty day moving average price of $11.10 and a 200 day moving average price of $11.60. Myers Industries, Inc. has a 12 month low of $9.06 and a 12 month high of $23.05. The stock has a market cap of $384.15 million, a P/E ratio of 24.52 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.
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. The business had revenue of $203.88 million during the quarter, compared to the consensus estimate of $203.10 million. Myers Industries had a return on equity of 14.75% and a net margin of 1.88%. Research analysts predict that Myers Industries, Inc. will post 0.95 EPS for the current year.
Myers Industries Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were given 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 dividend yield of 5.24%. Myers Industries's payout ratio is currently 284.21%.
Myers Industries announced that its Board of Directors has authorized a share repurchase plan on Thursday, March 6th that allows the company to buyback $10.00 million in shares. This buyback authorization allows the industrial products company to buy up to 2.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.
About Myers Industries
(
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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