Myers Industries, Inc. (NYSE:MYE) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in Myers Industries, Inc. (NYSE:MYE) by 1.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 842,106 shares of the industrial products company’s stock after acquiring an additional 9,664 shares during the period. Geode Capital Management LLC owned 2.26% of Myers Industries worth $9,299,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Aigen Investment Management LP acquired a new position in shares of Myers Industries during the 4th quarter valued at about $138,000. Fox Run Management L.L.C. acquired a new position in shares of Myers Industries in the 4th quarter valued at $251,000. Versor Investments LP increased its holdings in shares of Myers Industries by 49.4% during the 4th quarter. Versor Investments LP now owns 23,600 shares of the industrial products company’s stock worth $261,000 after buying an additional 7,800 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in Myers Industries by 18.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 24,778 shares of the industrial products company’s stock valued at $274,000 after acquiring an additional 3,793 shares during the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in Myers Industries during the fourth quarter valued at about $290,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Myers Industries Trading Up 3.7 %

Shares of MYE opened at $9.89 on Thursday. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.80 and a quick ratio of 1.11. Myers Industries, Inc. has a 12 month low of $9.06 and a 12 month high of $23.05. The stock has a market cap of $368.67 million, a PE ratio of 23.54 and a beta of 1.08. The stock’s 50-day moving average is $11.17 and its two-hundred day moving average is $11.64.

Myers Industries (NYSE:MYE) last released its quarterly earnings results 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 return on equity of 14.75% and a net margin of 1.88%. The firm had revenue of $203.88 million during the quarter, compared to analysts’ expectations of $203.10 million. Equities analysts forecast that Myers Industries, Inc. will post 0.95 earnings per share for the current fiscal year.

Myers Industries announced that its Board of Directors has authorized a share repurchase 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 reacquire up to 2.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Myers Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were paid a dividend of $0.135 per share. The ex-dividend date was Friday, March 14th. This represents a $0.54 annualized dividend and a dividend yield of 5.46%. Myers Industries’s dividend payout ratio is presently 284.21%.

Analysts Set New Price Targets

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

About Myers Industries

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.