Cubist Systematic Strategies LLC Grows Holdings in Myers Industries, Inc. (NYSE:MYE)

Cubist Systematic Strategies LLC raised its position in Myers Industries, Inc. (NYSE:MYE - Free Report) by 338.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,780 shares of the industrial products company's stock after acquiring an additional 25,308 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.09% of Myers Industries worth $362,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Gamco Investors INC. ET AL boosted its stake in Myers Industries by 2.9% in the fourth quarter. Gamco Investors INC. ET AL now owns 3,383,485 shares of the industrial products company's stock valued at $37,354,000 after acquiring an additional 96,400 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Myers Industries by 11.8% during the fourth quarter. Renaissance Technologies LLC now owns 1,586,991 shares of the industrial products company's stock worth $17,520,000 after buying an additional 167,894 shares during the period. Gabelli Funds LLC lifted its stake in shares of Myers Industries by 0.5% during the fourth quarter. Gabelli Funds LLC now owns 1,563,150 shares of the industrial products company's stock worth $17,257,000 after buying an additional 8,000 shares during the period. Geode Capital Management LLC lifted its stake in shares of Myers Industries by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 842,106 shares of the industrial products company's stock worth $9,299,000 after buying an additional 9,664 shares during the period. Finally, Barington Capital Group L.P. acquired a new stake in shares of Myers Industries during the fourth quarter worth $9,055,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Myers Industries Stock Performance

NYSE MYE traded up $0.16 on Thursday, reaching $12.24. 24,954 shares of the company's stock traded hands, compared to its average volume of 326,135. The firm has a market cap of $457.56 million, a price-to-earnings ratio of 29.14 and a beta of 1.08. The stock has a 50 day moving average price of $11.18 and a 200-day moving average price of $11.51. Myers Industries, Inc. has a fifty-two week low of $9.06 and a fifty-two week high of $17.39. 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 (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, beating analysts' consensus estimates of $0.19 by $0.03. The company 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%. Equities research analysts predict that Myers Industries, Inc. will post 0.95 EPS for the current fiscal year.

Myers Industries declared that its board has authorized a share repurchase plan on Thursday, March 6th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the industrial products company to buy up to 2.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Myers Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were issued a $0.135 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.54 dividend on an annualized basis and a yield of 4.41%. Myers Industries's payout ratio is 192.86%.

Analyst Upgrades and Downgrades

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

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.