Myers Industries, Inc. (NYSE:MYE) Stock Position Raised by BNP Paribas Financial Markets

BNP Paribas Financial Markets lifted its position in Myers Industries, Inc. (NYSE:MYE) by 224.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 104,346 shares of the industrial products company’s stock after acquiring an additional 72,165 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.28% of Myers Industries worth $1,152,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in MYE. Aquatic Capital Management LLC lifted its position in Myers Industries by 103.1% in the 4th quarter. Aquatic Capital Management LLC now owns 5,484 shares of the industrial products company’s stock worth $61,000 after buying an additional 2,784 shares in the last quarter. Aigen Investment Management LP purchased a new stake in Myers Industries in the 4th quarter worth approximately $138,000. Polymer Capital Management US LLC purchased a new stake in Myers Industries in the 4th quarter worth approximately $228,000. Wells Fargo & Company MN lifted its position in Myers Industries by 32.9% in the 4th quarter. Wells Fargo & Company MN now owns 22,464 shares of the industrial products company’s stock worth $248,000 after buying an additional 5,566 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in Myers Industries in the 4th quarter worth approximately $251,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Analyst Upgrades and Downgrades

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

Myers Industries Stock Performance

NYSE:MYE opened at $12.45 on Tuesday. Myers Industries, Inc. has a 1 year low of $9.06 and a 1 year high of $17.39. The firm’s fifty day simple moving average is $11.20 and its 200 day simple moving average is $11.50. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $465.41 million, a PE ratio of 29.64 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, beating 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 business had revenue of $206.75 million for the quarter, compared to analyst estimates of $206.80 million. On average, sell-side analysts anticipate that Myers Industries, Inc. will post 0.95 EPS for the current year.

Myers Industries announced that its board has initiated a stock repurchase program on Thursday, March 6th that authorizes the company to repurchase $10.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase up to 2.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Myers Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were given 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 4.34%. Myers Industries’s dividend payout ratio is 192.86%.

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.