Tieton Capital Management LLC Increases Position in Myers Industries, Inc. (NYSE:MYE)

Tieton Capital Management LLC grew its position in shares of Myers Industries, Inc. (NYSE:MYE) by 1.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 186,925 shares of the industrial products company’s stock after purchasing an additional 2,380 shares during the period. Myers Industries makes up about 1.4% of Tieton Capital Management LLC’s holdings, making the stock its 28th largest holding. Tieton Capital Management LLC’s holdings in Myers Industries were worth $2,501,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Renaissance Technologies LLC lifted its stake in Myers Industries by 8.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,480,597 shares of the industrial products company’s stock worth $19,810,000 after acquiring an additional 113,100 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Myers Industries by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,604,324 shares of the industrial products company’s stock valued at $21,466,000 after purchasing an additional 4,777 shares during the period. American Century Companies Inc. grew its holdings in shares of Myers Industries by 12.3% in the second quarter. American Century Companies Inc. now owns 556,131 shares of the industrial products company’s stock valued at $7,441,000 after purchasing an additional 60,935 shares in the last quarter. ClariVest Asset Management LLC increased its stake in Myers Industries by 60.0% during the 2nd quarter. ClariVest Asset Management LLC now owns 200,266 shares of the industrial products company’s stock worth $2,680,000 after buying an additional 75,108 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in Myers Industries by 3.9% during the 2nd quarter. Acadian Asset Management LLC now owns 210,903 shares of the industrial products company’s stock worth $2,817,000 after buying an additional 7,940 shares in the last quarter. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, KeyCorp dropped their price target on shares of Myers Industries from $30.00 to $27.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd.

Myers Industries Stock Performance

Shares of MYE opened at $14.00 on Tuesday. Myers Industries, Inc. has a 1 year low of $12.47 and a 1 year high of $23.63. The stock has a market capitalization of $520.56 million, a PE ratio of 13.21 and a beta of 1.22. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.16 and a current ratio of 1.81. The stock has a 50-day simple moving average of $14.29 and a 200-day simple moving average of $17.06.

Myers Industries (NYSE:MYE) last posted its quarterly earnings results on Thursday, August 1st. The industrial products company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.31 by $0.08. Myers Industries had a net margin of 4.79% and a return on equity of 16.27%. The company had revenue of $220.24 million during the quarter. During the same quarter last year, the firm earned $0.35 EPS. On average, analysts predict that Myers Industries, Inc. will post 1.13 earnings per share for the current fiscal year.

Myers Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Friday, September 13th will be paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date of this dividend is Friday, September 13th. Myers Industries’s dividend payout ratio is presently 50.94%.

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.