Quantbot Technologies LP Raises Stock Position in Myers Industries, Inc. (NYSE:MYE)

Quantbot Technologies LP grew its position in Myers Industries, Inc. (NYSE:MYE) by 176.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,580 shares of the industrial products company’s stock after buying an additional 20,153 shares during the period. Quantbot Technologies LP’s holdings in Myers Industries were worth $349,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. grew its position in Myers Industries by 78.6% in the third quarter. JPMorgan Chase & Co. now owns 133,506 shares of the industrial products company’s stock worth $1,845,000 after acquiring an additional 58,761 shares during the period. Barclays PLC grew its holdings in shares of Myers Industries by 464.7% during the 3rd quarter. Barclays PLC now owns 74,072 shares of the industrial products company’s stock worth $1,024,000 after purchasing an additional 60,954 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of Myers Industries during the 4th quarter worth about $290,000. State Street Corp raised its holdings in Myers Industries by 2.6% in the 3rd quarter. State Street Corp now owns 1,374,246 shares of the industrial products company’s stock valued at $19,176,000 after buying an additional 35,456 shares during the period. Finally, FMR LLC lifted its position in Myers Industries by 14.6% in the third quarter. FMR LLC now owns 73,450 shares of the industrial products company’s stock valued at $1,015,000 after buying an additional 9,349 shares during the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

Myers Industries Stock Down 3.3 %

Shares of NYSE MYE opened at $11.87 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.80 and a debt-to-equity ratio of 1.36. The business’s 50 day moving average is $11.97 and its two-hundred day moving average is $12.11. Myers Industries, Inc. has a 52-week low of $9.32 and a 52-week high of $23.22. The firm has a market cap of $442.52 million, a price-to-earnings ratio of 28.25 and a beta of 1.21.

Myers Industries (NYSE:MYE) last posted its earnings results on Thursday, March 6th. The industrial products company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.09. The firm had revenue of $203.88 million for the quarter, compared to analyst estimates 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 announced that its board has initiated a share buyback program on Thursday, March 6th that allows the company to buyback $10.00 million in outstanding shares. This buyback authorization allows the industrial products company to purchase up to 2.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Myers Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date is Friday, March 14th. Myers Industries’s dividend payout ratio (DPR) is currently 284.21%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Myers Industries from a “sell” rating to a “hold” rating in a research report on Friday, March 7th.

Myers Industries 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.