Myers Industries, Inc. (NYSE:MYE) Shares Purchased by Nebula Research & Development LLC

Nebula Research & Development LLC increased its holdings in shares of Myers Industries, Inc. (NYSE:MYE) by 409.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,716 shares of the industrial products company’s stock after purchasing an additional 47,197 shares during the quarter. Nebula Research & Development LLC owned 0.16% of Myers Industries worth $648,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Gamco Investors INC. ET AL increased its position in shares of Myers Industries by 2.9% during the 4th quarter. Gamco Investors INC. ET AL now owns 3,383,485 shares of the industrial products company’s stock worth $37,354,000 after purchasing an additional 96,400 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Myers Industries by 11.8% during the 4th quarter. Renaissance Technologies LLC now owns 1,586,991 shares of the industrial products company’s stock worth $17,520,000 after purchasing an additional 167,894 shares during the last quarter. Gabelli Funds LLC increased its position in shares of Myers Industries by 0.5% during the 4th quarter. Gabelli Funds LLC now owns 1,563,150 shares of the industrial products company’s stock worth $17,257,000 after purchasing an additional 8,000 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Myers Industries by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 842,106 shares of the industrial products company’s stock worth $9,299,000 after purchasing an additional 9,664 shares during the last quarter. Finally, Tieton Capital Management LLC grew its position in Myers Industries by 23.3% in the 4th quarter. Tieton Capital Management LLC now owns 304,330 shares of the industrial products company’s stock valued at $3,360,000 after acquiring an additional 57,410 shares in the last quarter. 90.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Myers Industries from a “sell” rating to a “hold” rating in a research report on Friday, March 7th.

Myers Industries Stock Performance

NYSE MYE opened at $10.53 on Tuesday. The company has a market cap of $392.73 million, a P/E ratio of 25.07 and a beta of 1.08. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.80 and a quick ratio of 1.11. The stock has a 50-day moving average of $11.06 and a two-hundred day moving average of $11.57. Myers Industries, Inc. has a 1-year low of $9.06 and a 1-year high of $23.05.

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

Myers Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 5.13%. The ex-dividend date was Friday, March 14th. Myers Industries’s payout ratio is 284.21%.

Myers Industries announced that its board has authorized a stock repurchase program on Thursday, March 6th that allows the company to buyback $10.00 million in shares. This buyback authorization allows the industrial products company to reacquire up to 2.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership 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.