Myers Industries, Inc. (NYSE:MYE) Shares Bought by Tieton Capital Management LLC

Tieton Capital Management LLC lifted its stake in shares of Myers Industries, Inc. (NYSE:MYE) by 23.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 304,330 shares of the industrial products company’s stock after purchasing an additional 57,410 shares during the quarter. Myers Industries comprises about 1.4% of Tieton Capital Management LLC’s investment portfolio, making the stock its 27th largest position. Tieton Capital Management LLC’s holdings in Myers Industries were worth $3,360,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Point72 DIFC Ltd purchased a new stake in shares of Myers Industries during the 3rd quarter worth approximately $28,000. Point72 Asset Management L.P. acquired a new position in Myers Industries during the third quarter worth about $72,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Myers Industries during the third quarter worth about $85,000. Aigen Investment Management LP acquired a new position in Myers Industries during the fourth quarter worth about $138,000. Finally, Quest Partners LLC acquired a new position in Myers Industries during the third quarter worth about $150,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Myers Industries Stock Performance

Shares of MYE opened at $12.08 on Monday. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 1.36. The stock has a market cap of $450.42 million, a P/E ratio of 28.75 and a beta of 1.21. The company has a 50-day moving average of $11.90 and a two-hundred day moving average of $12.16. Myers Industries, Inc. has a 12-month low of $9.32 and a 12-month high of $23.47.

Myers Industries (NYSE:MYE) last posted its quarterly earnings data 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 analyst estimates of $203.10 million. Myers Industries had a net margin of 1.88% and a return on equity of 14.75%. As a group, research analysts predict that Myers Industries, Inc. will post 0.95 EPS for the current fiscal year.

Myers Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 14th will be given a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date is Friday, March 14th. Myers Industries’s dividend payout ratio is presently 284.21%.

Myers Industries declared that its board has authorized a share repurchase plan on Thursday, March 6th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the industrial products company to reacquire up to 2.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

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.