Squarepoint Ops LLC Boosts Stake in Myers Industries, Inc. (NYSE:MYE)

Squarepoint Ops LLC boosted its holdings in shares of Myers Industries, Inc. (NYSE:MYE - Free Report) by 480.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,756 shares of the industrial products company's stock after acquiring 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 reporting period.

Other large investors also recently bought and sold shares of the company. Janney Montgomery Scott LLC purchased a new stake in shares of Myers Industries in the fourth quarter valued at approximately $290,000. KLP Kapitalforvaltning AS acquired a new position in Myers Industries during the fourth quarter worth $309,000. Nuveen Asset Management LLC grew its holdings in Myers Industries by 2.8% in the 4th quarter. Nuveen Asset Management LLC now owns 437,753 shares of the industrial products company's stock valued at $4,833,000 after buying an additional 11,985 shares in the last quarter. Barington Capital Group L.P. acquired a new stake in shares of Myers Industries in the 4th quarter worth $9,055,000. Finally, D. E. Shaw & Co. Inc. raised its holdings in shares of Myers Industries by 828.5% during the 4th 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.

Myers Industries Trading Up 7.5%

Shares of Myers Industries stock traded up $0.93 during mid-day trading on Tuesday, hitting $13.37. The stock had a trading volume of 337,341 shares, compared to its average volume of 326,383. The firm has a 50-day moving average of $11.19 and a two-hundred day moving average of $11.54. The firm has a market cap of $499.76 million, a P/E ratio of 31.83 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. 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 released its quarterly earnings data 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. The firm had revenue of $206.75 million for the quarter, compared to analysts' expectations of $206.80 million. Myers Industries had a return on equity of 14.75% and a net margin of 1.88%. Sell-side analysts forecast that Myers Industries, Inc. will post 0.95 earnings per share for the current year.

Myers Industries announced that its Board of Directors has initiated a stock repurchase 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 purchase up to 2.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

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.