Myers Industries, Inc. (NYSE:MYE) Shares Acquired by Two Sigma Investments LP

Two Sigma Investments LP grew its holdings in Myers Industries, Inc. (NYSE:MYE - Free Report) by 126.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 132,933 shares of the industrial products company's stock after acquiring an additional 74,291 shares during the period. Two Sigma Investments LP owned about 0.36% of Myers Industries worth $1,468,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of MYE. Barington Capital Group L.P. acquired a new position in shares of Myers Industries in the fourth quarter worth $9,055,000. Millennium Management LLC grew its stake in shares of Myers Industries by 824.9% during the fourth quarter. Millennium Management LLC now owns 887,760 shares of the industrial products company's stock worth $9,801,000 after purchasing an additional 791,780 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Myers Industries by 175.7% during the fourth quarter. Ameriprise Financial Inc. now owns 805,608 shares of the industrial products company's stock worth $8,895,000 after purchasing an additional 513,431 shares in the last quarter. Invenomic Capital Management LP acquired a new position in shares of Myers Industries during the fourth quarter worth $4,269,000. Finally, Jane Street Group LLC grew its stake in shares of Myers Industries by 605.4% during the fourth quarter. Jane Street Group LLC now owns 388,873 shares of the industrial products company's stock worth $4,293,000 after purchasing an additional 333,746 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company's stock.

Myers Industries Stock Up 4.4%

Shares of MYE stock traded up $0.60 on Friday, reaching $14.11. 359,776 shares of the stock were exchanged, compared to its average volume of 327,623. Myers Industries, Inc. has a twelve month low of $9.06 and a twelve month high of $17.39. The company has a market capitalization of $527.42 million, a price-to-earnings ratio of 33.59 and a beta of 1.12. 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 business's 50 day moving average price is $11.32 and its 200 day moving average price is $11.60.

Myers Industries (NYSE:MYE - Get Free Report) last announced its earnings results on Thursday, May 1st. The industrial products company reported $0.22 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 during the quarter, compared to analysts' expectations of $206.80 million. As a group, sell-side analysts expect that Myers Industries, Inc. will post 0.95 earnings per share for the current fiscal year.

Myers Industries declared that its Board of Directors has authorized a stock repurchase program on Thursday, March 6th that authorizes the company to buyback $10.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to repurchase up to 2.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

Myers Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 18th will be paid a dividend of $0.135 per share. The ex-dividend date is Wednesday, June 18th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.83%. Myers Industries's dividend payout ratio (DPR) is 192.86%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Myers Industries from a "hold" rating to a "buy" rating in a research note on Friday, May 30th.

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.