Myers Industries, Inc. (NYSE:MYE) Shares Acquired by Nebula Research & Development LLC

Nebula Research & Development LLC lifted its stake in shares of Myers Industries, Inc. (NYSE:MYE - Free Report) by 409.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,716 shares of the industrial products company's stock after purchasing an additional 47,197 shares during the quarter. Nebula Research & Development LLC owned about 0.16% of Myers Industries worth $648,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Aigen Investment Management LP purchased a new position in Myers Industries in the 4th quarter valued at approximately $138,000. Polymer Capital Management US LLC acquired a new position in Myers Industries during the fourth quarter worth about $228,000. Wells Fargo & Company MN lifted its holdings in shares of Myers Industries by 32.9% in the fourth 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. acquired a new stake in shares of Myers Industries in the fourth quarter valued at approximately $251,000. Finally, Versor Investments LP increased its stake in shares of Myers Industries by 49.4% during the 4th quarter. Versor Investments LP now owns 23,600 shares of the industrial products company's stock worth $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.

Analyst Upgrades and Downgrades

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

Myers Industries Trading Up 4.8 %

NYSE MYE traded up $0.53 during mid-day trading on Friday, hitting $11.59. The company's stock had a trading volume of 404,925 shares, compared to its average volume of 337,300. The firm has a market capitalization of $432.26 million, a P/E ratio of 27.60 and a beta of 1.08. 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 52-week low of $9.06 and a 52-week high of $23.05. The stock's fifty day simple moving average is $11.04 and its two-hundred day simple moving average is $11.51.

Myers Industries (NYSE:MYE - Get Free Report) last announced its earnings results on Thursday, May 1st. The industrial products company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.19 by $0.03. The business 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%. Research analysts expect 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 allows the company to buyback $10.00 million in shares. This buyback authorization allows the industrial products company to buy up to 2.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Myers Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were given a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 4.66%. The ex-dividend date was Friday, March 14th. Myers Industries's payout ratio is currently 192.86%.

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.