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

Tieton Capital Management LLC raised its stake in shares of Myers Industries, Inc. (NYSE:MYE) by 23.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 304,330 shares of the industrial products company’s stock after acquiring an additional 57,410 shares during the period. Myers Industries makes up 1.4% of Tieton Capital Management LLC’s holdings, making the stock its 27th biggest holding. Tieton Capital Management LLC owned approximately 0.82% of Myers Industries worth $3,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in MYE. Point72 DIFC Ltd purchased a new position in shares of Myers Industries in the third quarter valued at approximately $28,000. Point72 Asset Management L.P. purchased a new position in shares of Myers Industries in the third quarter valued at approximately $72,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Myers Industries in the third quarter valued at approximately $85,000. Quest Partners LLC purchased a new position in Myers Industries in the third quarter worth approximately $150,000. Finally, Quantbot Technologies LP lifted its stake in Myers Industries by 8.0% in the third quarter. Quantbot Technologies LP now owns 11,427 shares of the industrial products company’s stock worth $158,000 after acquiring an additional 846 shares during the last quarter. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Myers Industries Stock Down 3.5 %

MYE stock 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. Myers Industries, Inc. has a twelve month low of $9.32 and a twelve month high of $23.47. The company’s 50 day moving average is $11.90 and its two-hundred day moving average is $12.16. The stock has a market cap of $450.42 million, a P/E ratio of 28.75 and a beta of 1.21.

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

Myers Industries Dividend Announcement

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

Myers Industries declared that its Board of Directors has approved a share 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 purchase up to 2.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is 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.