Myers Industries, Inc. (NYSE:MYE) Shares Acquired by Squarepoint Ops LLC

Squarepoint Ops LLC grew its stake in Myers Industries, Inc. (NYSE:MYE - Free Report) by 480.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 79,756 shares of the industrial products company's stock after buying an additional 66,018 shares during the period. Squarepoint Ops LLC owned 0.21% of Myers Industries worth $881,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in MYE. Janney Montgomery Scott LLC acquired a new stake in shares of Myers Industries in the fourth quarter worth $290,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Myers Industries in the fourth quarter worth $309,000. Nuveen Asset Management LLC increased its stake in shares of Myers Industries by 2.8% in the fourth quarter. Nuveen Asset Management LLC now owns 437,753 shares of the industrial products company's stock worth $4,833,000 after acquiring an additional 11,985 shares during the period. Barington Capital Group L.P. acquired a new stake in shares of Myers Industries in the fourth quarter worth $9,055,000. Finally, D. E. Shaw & Co. Inc. increased its stake in shares of Myers Industries by 828.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 227,283 shares of the industrial products company's stock worth $2,509,000 after acquiring an additional 202,805 shares during the period. Hedge funds and other institutional investors own 90.82% of the company's stock.

Analysts Set New Price Targets

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

Myers Industries Price Performance

Shares of NYSE:MYE traded up $0.05 during midday trading on Thursday, hitting $13.54. The company's stock had a trading volume of 270,966 shares, compared to its average volume of 326,912. The business's 50 day simple moving average is $11.28 and its 200 day simple moving average is $11.58. The company has a market cap of $506.04 million, a P/E ratio of 32.23 and a beta of 1.12. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.11 and a current ratio of 1.80. Myers Industries, Inc. has a 12-month low of $9.06 and a 12-month high of $17.39.

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

Myers Industries announced that its Board of Directors has authorized a share repurchase plan on Thursday, March 6th that authorizes the company to buyback $10.00 million in shares. This buyback authorization authorizes the industrial products company to repurchase up to 2.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.

Myers Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 18th will be given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date is Wednesday, June 18th. Myers Industries's dividend payout ratio is presently 192.86%.

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.