BNP Paribas Financial Markets Buys 72,165 Shares of Myers Industries, Inc. (NYSE:MYE)

BNP Paribas Financial Markets raised its position in shares of Myers Industries, Inc. (NYSE:MYE - Free Report) by 224.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 104,346 shares of the industrial products company's stock after purchasing an additional 72,165 shares during the quarter. BNP Paribas Financial Markets owned 0.28% of Myers Industries worth $1,152,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in MYE. JPMorgan Chase & Co. increased its position in Myers Industries by 78.6% in the third quarter. JPMorgan Chase & Co. now owns 133,506 shares of the industrial products company's stock worth $1,845,000 after purchasing an additional 58,761 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in Myers Industries in the fourth quarter worth about $290,000. Inspire Investing LLC lifted its stake in Myers Industries by 20.4% in the fourth quarter. Inspire Investing LLC now owns 36,291 shares of the industrial products company's stock worth $401,000 after acquiring an additional 6,153 shares during the period. Exchange Traded Concepts LLC lifted its position in shares of Myers Industries by 18.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 24,778 shares of the industrial products company's stock valued at $274,000 after buying an additional 3,793 shares during the last quarter. Finally, Access Investment Management LLC lifted its position in shares of Myers Industries by 75.0% during the fourth quarter. Access Investment Management LLC now owns 111,315 shares of the industrial products company's stock valued at $1,229,000 after buying an additional 47,710 shares during the last quarter. Hedge funds and other institutional investors own 90.82% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Myers Industries from a "sell" rating to a "hold" rating in a report on Friday, March 7th.

Myers Industries Trading Down 1.1%

Shares of MYE traded down $0.14 during midday trading on Friday, reaching $12.08. The company had a trading volume of 183,733 shares, compared to its average volume of 327,270. Myers Industries, Inc. has a 1-year low of $9.06 and a 1-year high of $17.39. The stock has a market cap of $451.57 million, a PE ratio of 28.76 and a beta of 1.08. The firm has a 50 day simple moving average of $11.16 and a 200-day simple moving average of $11.51. The company has a quick ratio of 1.11, a current ratio of 1.80 and a debt-to-equity ratio of 1.36.

Myers Industries (NYSE:MYE - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $206.75 million during the quarter, compared to the consensus estimate of $206.80 million. Myers Industries had a return on equity of 14.75% and a net margin of 1.88%. Research analysts forecast that Myers Industries, Inc. will post 0.95 EPS for the current fiscal year.

Myers Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend was Friday, March 14th. Myers Industries's payout ratio is 192.86%.

Myers Industries declared that its board has initiated a share buyback plan 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 reacquire up to 2.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

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.