Jane Street Group LLC Increases Stock Holdings in Myers Industries, Inc. (NYSE:MYE)

Jane Street Group LLC increased its holdings in Myers Industries, Inc. (NYSE:MYE) by 605.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 388,873 shares of the industrial products company’s stock after acquiring an additional 333,746 shares during the quarter. Jane Street Group LLC owned about 1.04% of Myers Industries worth $4,293,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MYE. Tudor Investment Corp ET AL grew its stake in Myers Industries by 55.0% in the fourth quarter. Tudor Investment Corp ET AL now owns 125,441 shares of the industrial products company’s stock worth $1,385,000 after purchasing an additional 44,522 shares during the period. Barington Capital Group L.P. purchased a new stake in Myers Industries in the fourth quarter worth $9,055,000. Aquatic Capital Management LLC grew its stake in Myers Industries by 103.1% in the fourth quarter. Aquatic Capital Management LLC now owns 5,484 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 2,784 shares during the period. Nebula Research & Development LLC grew its stake in Myers Industries by 409.7% in the fourth quarter. Nebula Research & Development LLC now owns 58,716 shares of the industrial products company’s stock worth $648,000 after purchasing an additional 47,197 shares during the period. Finally, Quantessence Capital LLC purchased a new stake in Myers Industries in the fourth quarter worth $690,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Myers Industries Price Performance

Shares of MYE stock opened at $12.19 on Monday. 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 business’s fifty day moving average is $11.19 and its 200 day moving average is $11.48. Myers Industries, Inc. has a twelve month low of $9.06 and a twelve month high of $17.39. The stock has a market cap of $455.69 million, a price-to-earnings ratio of 29.02 and a beta of 1.08.

Myers Industries (NYSE:MYE) last released its earnings results on Thursday, May 1st. The industrial products company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.19 by $0.03. Myers Industries had a return on equity of 14.75% and a net margin of 1.88%. The business had revenue of $206.75 million for the quarter, compared to the consensus estimate of $206.80 million. Research analysts expect that Myers Industries, Inc. will post 0.95 EPS for the current fiscal year.

Myers Industries announced that its board has approved a stock buyback program on Thursday, March 6th that authorizes the company to repurchase $10.00 million in outstanding 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 typically a sign that the company’s management believes its stock is undervalued.

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 $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend was Friday, March 14th. Myers Industries’s dividend payout ratio (DPR) is 192.86%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised 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.