Tower Research Capital LLC TRC Raises Stock Position in Myers Industries, Inc. (NYSE:MYE)

Tower Research Capital LLC TRC increased its stake in Myers Industries, Inc. (NYSE:MYE - Free Report) by 747.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,188 shares of the industrial products company's stock after acquiring an additional 22,215 shares during the period. Tower Research Capital LLC TRC owned approximately 0.07% of Myers Industries worth $278,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in MYE. Marshall Wace LLP bought a new stake in shares of Myers Industries in the 4th quarter worth about $2,843,000. Gamco Investors INC. ET AL lifted 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 worth $37,354,000 after purchasing an additional 96,400 shares during the last quarter. Gabelli Funds LLC boosted its position 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 valued at $17,257,000 after buying an additional 8,000 shares during the period. Jump Financial LLC raised its holdings in shares of Myers Industries by 177.9% in the fourth quarter. Jump Financial LLC now owns 62,090 shares of the industrial products company's stock worth $685,000 after buying an additional 39,749 shares during the period. Finally, Barclays PLC lifted its stake in shares of Myers Industries by 17.6% during the 4th quarter. Barclays PLC now owns 87,093 shares of the industrial products company's stock worth $962,000 after acquiring an additional 13,021 shares during the last quarter. 90.82% of the stock is owned by institutional investors.

Myers Industries Trading Up 0.1 %

MYE traded up $0.01 during trading on Monday, hitting $11.60. 328,114 shares of the stock were exchanged, compared to its average volume of 337,263. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.11 and a current ratio of 1.80. The firm has a 50 day simple moving average of $11.06 and a 200 day simple moving average of $11.50. The firm has a market cap of $432.48 million, a price-to-earnings ratio of 27.61 and a beta of 1.08. Myers Industries, Inc. has a 1 year low of $9.06 and a 1 year high of $23.05.

Myers Industries (NYSE:MYE - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.03. The firm had revenue of $206.75 million during 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 expect that Myers Industries, Inc. will post 0.95 EPS for the current year.

Myers Industries Announces Dividend

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

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

Analysts Set New Price Targets

Separately, StockNews.com raised 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.