Boston Partners Buys 96,022 Shares of Myers Industries, Inc. (NYSE:MYE)

Boston Partners raised its position in shares of Myers Industries, Inc. (NYSE:MYE) by 105.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 187,073 shares of the industrial products company’s stock after purchasing an additional 96,022 shares during the quarter. Boston Partners owned approximately 0.50% of Myers Industries worth $2,065,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new stake in shares of Myers Industries during the third quarter worth $246,000. JPMorgan Chase & Co. lifted its holdings in Myers Industries by 78.6% in the third quarter. JPMorgan Chase & Co. now owns 133,506 shares of the industrial products company’s stock valued at $1,845,000 after buying an additional 58,761 shares during the period. Intech Investment Management LLC acquired a new position in Myers Industries in the third quarter valued at $972,000. Barclays PLC grew its holdings in Myers Industries by 464.7% during the 3rd quarter. Barclays PLC now owns 74,072 shares of the industrial products company’s stock worth $1,024,000 after acquiring an additional 60,954 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new stake in Myers Industries during the 4th quarter worth about $290,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Myers Industries Stock Performance

Shares of MYE stock opened at $12.08 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.80 and a debt-to-equity ratio of 1.36. Myers Industries, Inc. has a 52 week low of $9.32 and a 52 week high of $23.63. The firm has a 50 day moving average of $11.90 and a 200-day moving average of $12.19. The company has a market cap of $450.42 million, a price-to-earnings ratio of 28.75 and a beta of 1.21.

Myers Industries (NYSE:MYE) last posted its quarterly earnings results on Thursday, March 6th. The industrial products company reported $0.19 earnings per share for the quarter, beating 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 the consensus estimate of $203.10 million. On average, equities analysts forecast that Myers Industries, Inc. will post 0.95 earnings per share for the current year.

Myers Industries announced that its board has approved a stock buyback plan on Thursday, March 6th that permits the company to buyback $10.00 million in shares. This buyback authorization permits the industrial products company to buy up to 2.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Myers Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date is Friday, March 14th. Myers Industries’s dividend payout ratio (DPR) is currently 284.21%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Myers Industries from a “sell” rating to a “hold” rating in a research report 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.