Fox Run Management L.L.C. Buys New Stake in Myers Industries, Inc. (NYSE:MYE)

Fox Run Management L.L.C. bought a new position in Myers Industries, Inc. (NYSE:MYE) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 22,756 shares of the industrial products company’s stock, valued at approximately $251,000. Fox Run Management L.L.C. owned 0.06% of Myers Industries at the end of the most recent reporting period.

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

Myers Industries Stock Performance

NYSE MYE opened at $12.26 on Friday. Myers Industries, Inc. has a twelve month low of $9.32 and a twelve month high of $23.36. 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 stock has a market cap of $457.32 million, a P/E ratio of 29.20 and a beta of 1.21. The company’s 50-day simple moving average is $11.97 and its 200 day simple moving average is $12.13.

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. Myers Industries had a return on equity of 14.75% and a net margin of 1.88%. The company had revenue of $203.88 million during the quarter, compared to analysts’ expectations of $203.10 million. As a group, research analysts forecast that Myers Industries, Inc. will post 0.95 earnings per share for the current fiscal year.

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

Myers Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 14th will be paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date of this dividend is Friday, March 14th. Myers Industries’s dividend payout ratio (DPR) is currently 284.21%.

Analysts Set New Price Targets

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 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.