Jane Street Group LLC Raises Stock Holdings in Myers Industries, Inc. (NYSE:MYE)

Jane Street Group LLC raised its holdings in Myers Industries, Inc. (NYSE:MYE - Free Report) by 605.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 388,873 shares of the industrial products company's stock after buying an additional 333,746 shares during the quarter. Jane Street Group LLC owned 1.04% of Myers Industries worth $4,293,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tudor Investment Corp ET AL boosted its position in shares of Myers Industries by 55.0% during the 4th quarter. Tudor Investment Corp ET AL now owns 125,441 shares of the industrial products company's stock worth $1,385,000 after purchasing an additional 44,522 shares in the last quarter. Barington Capital Group L.P. bought a new position in Myers Industries in the fourth quarter worth approximately $9,055,000. Aquatic Capital Management LLC grew its stake in Myers Industries by 103.1% in the fourth quarter. Aquatic Capital Management LLC now owns 5,484 shares of the industrial products company's stock valued at $61,000 after acquiring an additional 2,784 shares during the period. Nebula Research & Development LLC grew its stake in Myers Industries by 409.7% in the fourth quarter. Nebula Research & Development LLC now owns 58,716 shares of the industrial products company's stock valued at $648,000 after acquiring an additional 47,197 shares during the period. Finally, Quantessence Capital LLC bought a new stake in shares of Myers Industries during the fourth quarter valued at approximately $690,000. 90.82% of the stock is currently owned by institutional investors.

Myers Industries Stock Performance

Shares of NYSE MYE traded up $0.07 during midday trading on Friday, reaching $12.44. The company's stock had a trading volume of 40,254 shares, compared to its average volume of 318,853. The stock has a market capitalization of $464.88 million, a P/E ratio of 29.62 and a beta of 1.08. The firm has a 50 day moving average price of $11.22 and a 200-day moving average price of $11.50. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.80 and a quick ratio of 1.11. 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 posted its earnings results on Thursday, May 1st. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.03. The firm had revenue of $206.75 million for 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%. As a group, equities analysts predict that Myers Industries, Inc. will post 0.95 earnings per share for the current year.

Myers Industries declared that its board has approved a stock buyback plan on Thursday, March 6th that allows the company to buyback $10.00 million in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 2.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its shares are undervalued.

Myers Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were issued a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date was Friday, March 14th. Myers Industries's dividend payout ratio is currently 192.86%.

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 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.