Renaissance Technologies LLC raised its position in shares of Myers Industries, Inc. (NYSE:MYE - Free Report) by 11.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,586,991 shares of the industrial products company's stock after purchasing an additional 167,894 shares during the period. Renaissance Technologies LLC owned 4.26% of Myers Industries worth $17,520,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in MYE. Polymer Capital Management US LLC acquired a new position in Myers Industries during the 4th quarter worth $228,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Myers Industries in the fourth quarter worth $272,000. Wells Fargo & Company MN grew its position in Myers Industries by 32.9% in the 4th quarter. Wells Fargo & Company MN now owns 22,464 shares of the industrial products company's stock worth $248,000 after purchasing an additional 5,566 shares during the last quarter. Geode Capital Management LLC grew its position in Myers Industries by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 842,106 shares of the industrial products company's stock worth $9,299,000 after buying an additional 9,664 shares in the last quarter. Finally, Norges Bank bought a new position in Myers Industries during the fourth quarter valued at about $3,180,000. Institutional investors own 90.82% of the company's stock.
Myers Industries Price Performance
Shares of MYE stock traded down $0.11 during trading hours on Tuesday, hitting $9.55. 242,802 shares of the company's stock were exchanged, compared to its average volume of 331,284. Myers Industries, Inc. has a 52 week low of $9.06 and a 52 week high of $23.05. The stock has a market cap of $356.33 million, a price-to-earnings ratio of 22.75 and a beta of 1.08. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.80 and a quick ratio of 1.11. The stock's 50-day moving average is $11.48 and its 200-day moving average is $11.77.
Myers Industries (NYSE:MYE - Get Free Report) last posted its quarterly earnings data on Thursday, March 6th. The industrial products company reported $0.19 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $203.10 million. As a group, research analysts forecast that Myers Industries, Inc. will post 0.95 EPS for the current year.
Myers Industries Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were paid a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 5.65%. The ex-dividend date of this dividend was Friday, March 14th. Myers Industries's dividend payout ratio is 284.21%.
Myers Industries announced that its Board of Directors has initiated a stock repurchase plan on Thursday, March 6th that allows the company to repurchase $10.00 million in outstanding shares. This repurchase authorization allows the industrial products company to repurchase up to 2.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.
Analysts Set New Price Targets
Separately, StockNews.com upgraded shares of Myers Industries from a "sell" rating to a "hold" rating in a research note on Friday, March 7th.
Read Our Latest Analysis on MYE
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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