Aquatic Capital Management LLC Buys 2,784 Shares of Myers Industries, Inc. (NYSE:MYE)

Aquatic Capital Management LLC grew its stake in shares of Myers Industries, Inc. (NYSE:MYE) by 103.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,484 shares of the industrial products company’s stock after acquiring an additional 2,784 shares during the period. Aquatic Capital Management LLC’s holdings in Myers Industries were worth $61,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in shares of Myers Industries by 78.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 133,506 shares of the industrial products company’s stock valued at $1,845,000 after purchasing an additional 58,761 shares in the last quarter. Barclays PLC grew its position in Myers Industries by 464.7% during the third quarter. Barclays PLC now owns 74,072 shares of the industrial products company’s stock worth $1,024,000 after buying an additional 60,954 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in Myers Industries in the 4th quarter worth about $290,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Myers Industries in the 4th quarter valued at about $309,000. Finally, Sei Investments Co. boosted its position in shares of Myers Industries by 3.8% during the 4th quarter. Sei Investments Co. now owns 76,288 shares of the industrial products company’s stock valued at $842,000 after acquiring an additional 2,788 shares during the last quarter. 90.82% of the stock is owned by hedge funds and other institutional investors.

Myers Industries Stock Up 0.1 %

MYE opened at $11.60 on Tuesday. The business’s fifty day simple moving average is $11.06 and its 200 day simple moving average is $11.50. 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 stock has a market cap of $432.48 million, a PE ratio of 27.61 and a beta of 1.08.

Myers Industries (NYSE:MYE) last announced its quarterly earnings data 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 firm had revenue of $206.75 million for the quarter, compared to analyst estimates of $206.80 million. Myers Industries had a return on equity of 14.75% and a net margin of 1.88%. As a group, research analysts expect that Myers Industries, Inc. will post 0.95 earnings per share for the current fiscal year.

Myers Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were issued a $0.135 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.66%. Myers Industries’s payout ratio is 192.86%.

Myers Industries declared that its Board of Directors has approved a share repurchase program on Thursday, March 6th that allows the company to repurchase $10.00 million in outstanding shares. This repurchase authorization allows the industrial products company to reacquire up to 2.2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are 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.

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.