820,196 Shares in Myers Industries, Inc. (NYSE:MYE) Purchased by Barington Capital Group L.P.

Barington Capital Group L.P. acquired a new position in Myers Industries, Inc. (NYSE:MYE - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 820,196 shares of the industrial products company's stock, valued at approximately $9,055,000. Myers Industries comprises approximately 8.2% of Barington Capital Group L.P.'s holdings, making the stock its 7th biggest position. Barington Capital Group L.P. owned about 2.20% of Myers Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Aquatic Capital Management LLC increased its position in Myers Industries by 103.1% during the fourth quarter. Aquatic Capital Management LLC now owns 5,484 shares of the industrial products company's stock worth $61,000 after acquiring an additional 2,784 shares during the period. Aigen Investment Management LP bought a new position in Myers Industries during the fourth quarter worth $138,000. Polymer Capital Management US LLC bought a new position in Myers Industries during the fourth quarter worth $228,000. Wells Fargo & Company MN increased its position in Myers Industries by 32.9% during the fourth quarter. Wells Fargo & Company MN now owns 22,464 shares of the industrial products company's stock worth $248,000 after acquiring an additional 5,566 shares during the period. Finally, Fox Run Management L.L.C. bought a new position in Myers Industries during the fourth quarter worth $251,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Myers Industries Stock Performance

Myers Industries stock traded up $0.29 on Thursday, hitting $10.79. The company's stock had a trading volume of 207,524 shares, compared to its average volume of 334,146. The firm has a market cap of $402.42 million, a P/E ratio of 25.67 and a beta of 1.08. 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 company has a fifty day moving average price of $11.02 and a 200-day moving average price of $11.56. Myers Industries, Inc. has a one year low of $9.06 and a one year high of $23.05.

Myers Industries (NYSE:MYE - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $203.88 million for the quarter, compared to analyst estimates of $203.10 million. Myers Industries had a net margin of 1.88% and a return on equity of 14.75%. On average, equities analysts anticipate that Myers Industries, Inc. will post 0.95 earnings per share for the current year.

Myers Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were issued a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 5.00%. The ex-dividend date of this dividend was Friday, March 14th. Myers Industries's payout ratio is 284.21%.

Myers Industries announced that its board has authorized a stock buyback program on Thursday, March 6th that permits the company to repurchase $10.00 million in outstanding shares. This repurchase authorization permits the industrial products company to buy up to 2.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board believes its shares are undervalued.

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.