Jump Financial LLC Raises Stake in Myers Industries, Inc. (NYSE:MYE)

Jump Financial LLC lifted its stake in shares of Myers Industries, Inc. (NYSE:MYE - Free Report) by 177.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 62,090 shares of the industrial products company's stock after acquiring an additional 39,749 shares during the period. Jump Financial LLC owned 0.17% of Myers Industries worth $685,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Aigen Investment Management LP acquired a new position in shares of Myers Industries during the 4th quarter valued at $138,000. Polymer Capital Management US LLC bought a new stake in Myers Industries during the 4th quarter valued at $228,000. Wells Fargo & Company MN increased its stake in Myers Industries by 32.9% during the 4th quarter. Wells Fargo & Company MN now owns 22,464 shares of the industrial products company's stock valued at $248,000 after purchasing an additional 5,566 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in Myers Industries during the 4th quarter valued at $251,000. Finally, Versor Investments LP increased its stake in Myers Industries by 49.4% during the 4th quarter. Versor Investments LP now owns 23,600 shares of the industrial products company's stock valued at $261,000 after purchasing an additional 7,800 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company's stock.

Myers Industries Stock Up 2.2 %

MYE stock traded up $0.23 during midday trading on Monday, reaching $10.53. 224,956 shares of the company's stock traded hands, compared to its average volume of 334,040. Myers Industries, Inc. has a 52 week low of $9.06 and a 52 week high of $23.05. The company has a quick ratio of 1.11, a current ratio of 1.80 and a debt-to-equity ratio of 1.36. The company has a market cap of $392.73 million, a price-to-earnings ratio of 25.07 and a beta of 1.08. The firm's fifty day moving average price is $11.06 and its 200-day moving average price is $11.57.

Myers Industries (NYSE:MYE - Get Free Report) last posted its earnings results on Thursday, March 6th. The industrial products company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.09. Myers Industries had a net margin of 1.88% and a return on equity of 14.75%. The firm had revenue of $203.88 million during the quarter, compared to analyst estimates of $203.10 million. As a group, sell-side analysts forecast that Myers Industries, Inc. will post 0.95 earnings per share for the current fiscal year.

Myers Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were paid a $0.135 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.54 annualized dividend and a dividend yield of 5.13%. Myers Industries's payout ratio is 284.21%.

Myers Industries declared that its Board of Directors has authorized a share buyback program 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 shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Myers Industries from a "sell" rating to a "hold" rating in a research note on Friday, March 7th.

Myers Industries 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.