Dimensional Fund Advisors LP Sells 233,133 Shares of Myers Industries, Inc. (NYSE:MYE)

Dimensional Fund Advisors LP cut its holdings in Myers Industries, Inc. (NYSE:MYE) by 14.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,388,184 shares of the industrial products company’s stock after selling 233,133 shares during the period. Dimensional Fund Advisors LP owned about 3.73% of Myers Industries worth $15,325,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Marshall Wace LLP acquired a new position in shares of Myers Industries during the 4th quarter worth approximately $2,843,000. Gamco Investors INC. ET AL increased its holdings in Myers Industries by 2.9% during the fourth quarter. Gamco Investors INC. ET AL now owns 3,383,485 shares of the industrial products company’s stock worth $37,354,000 after buying an additional 96,400 shares during the last quarter. Gabelli Funds LLC lifted its stake in Myers Industries by 0.5% in the fourth quarter. Gabelli Funds LLC now owns 1,563,150 shares of the industrial products company’s stock valued at $17,257,000 after acquiring an additional 8,000 shares during the last quarter. Jump Financial LLC grew its position in shares of Myers Industries by 177.9% in the 4th quarter. Jump Financial LLC now owns 62,090 shares of the industrial products company’s stock valued at $685,000 after acquiring an additional 39,749 shares during the period. Finally, Barclays PLC increased its stake in shares of Myers Industries by 17.6% during the 4th quarter. Barclays PLC now owns 87,093 shares of the industrial products company’s stock worth $962,000 after purchasing an additional 13,021 shares during the last quarter. Institutional investors own 90.82% of the company’s stock.

Myers Industries Trading Up 4.6 %

Shares of Myers Industries stock opened at $12.12 on Friday. 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 business has a fifty day simple moving average of $11.14 and a two-hundred day simple moving average of $11.50. Myers Industries, Inc. has a 1 year low of $9.06 and a 1 year high of $17.93. The company has a market capitalization of $452.14 million, a price-to-earnings ratio of 28.86 and a beta of 1.08.

Myers Industries (NYSE:MYE) last posted its earnings results on Thursday, May 1st. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. Myers Industries had a net margin of 1.88% and a return on equity of 14.75%. The company had revenue of $206.75 million during the quarter, compared to analysts’ expectations of $206.80 million. Research analysts forecast that Myers Industries, Inc. will post 0.95 EPS for the current year.

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

Myers Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were paid a $0.135 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.54 annualized dividend and a yield of 4.45%. Myers Industries’s dividend payout ratio (DPR) is presently 192.86%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Myers Industries from a “sell” rating to a “hold” rating in a report 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.