Fox Run Management L.L.C. Makes New $251,000 Investment in Myers Industries, Inc. (NYSE:MYE)

Fox Run Management L.L.C. bought a new position in Myers Industries, Inc. (NYSE:MYE) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 22,756 shares of the industrial products company’s stock, valued at approximately $251,000.

A number of other institutional investors also recently modified their holdings of the stock. JPMorgan Chase & Co. increased 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 purchasing an additional 58,761 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Myers Industries during the 3rd quarter worth approximately $972,000. Barclays PLC raised its stake in shares of Myers Industries by 464.7% during the third quarter. Barclays PLC now owns 74,072 shares of the industrial products company’s stock worth $1,024,000 after buying an additional 60,954 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in Myers Industries in the fourth quarter valued at approximately $290,000. Finally, State Street Corp boosted 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 last quarter. 90.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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 Price Performance

Myers Industries stock opened at $12.26 on Friday. 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 firm has a market capitalization of $457.32 million, a P/E ratio of 29.20 and a beta of 1.21. The business has a 50-day moving average of $11.97 and a 200-day moving average of $12.13. Myers Industries, Inc. has a 1 year low of $9.32 and a 1 year high of $23.36.

Myers Industries (NYSE:MYE) last issued its quarterly earnings data on Thursday, March 6th. The industrial products company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.09. The firm had revenue of $203.88 million during the quarter, compared to analysts’ expectations of $203.10 million. Myers Industries had a net margin of 1.88% and a return on equity of 14.75%. On average, equities analysts anticipate that Myers Industries, Inc. will post 0.95 EPS for the current year.

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 paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 4.40%. The ex-dividend date is Friday, March 14th. Myers Industries’s payout ratio is presently 284.21%.

Myers Industries announced that its Board of Directors has initiated a stock repurchase program on Thursday, March 6th that allows the company to repurchase $10.00 million in shares. This repurchase authorization allows the industrial products company to purchase up to 2.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Myers Industries Company 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.