AlphaQuest LLC Has $487,000 Stock Holdings in Myers Industries, Inc. (NYSE:MYE)

AlphaQuest LLC boosted its holdings in shares of Myers Industries, Inc. (NYSE:MYE) by 307.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 44,109 shares of the industrial products company’s stock after acquiring an additional 33,286 shares during the period. AlphaQuest LLC’s holdings in Myers Industries were worth $487,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in MYE. Point72 DIFC Ltd acquired a new position in shares of Myers Industries in the 3rd quarter valued at $28,000. Point72 Asset Management L.P. acquired a new position in shares of Myers Industries in the 3rd quarter valued at $72,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Myers Industries in the 3rd quarter valued at $85,000. Aigen Investment Management LP acquired a new position in shares of Myers Industries in the 4th quarter valued at $138,000. Finally, Quest Partners LLC acquired a new position in shares of Myers Industries in the 3rd quarter valued at $150,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Myers Industries from a “sell” rating to a “hold” rating in a report on Friday, March 7th.

Myers Industries Price Performance

Shares of NYSE MYE opened at $12.85 on Thursday. The firm has a market cap of $478.64 million, a PE ratio of 30.59 and a beta of 1.21. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 1.36. Myers Industries, Inc. has a 1-year low of $9.32 and a 1-year high of $23.63. The company has a fifty day moving average price of $11.66 and a 200 day moving average price of $12.30.

Myers Industries (NYSE:MYE) last announced its earnings results on Thursday, March 6th. The industrial products company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.09. The firm had revenue of $203.88 million during the quarter, compared to analyst estimates of $203.10 million. Myers Industries had a net margin of 1.88% and a return on equity of 14.75%. Research analysts predict that Myers Industries, Inc. will post 0.95 earnings per share for the current fiscal year.

Myers Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date of this dividend is Friday, March 14th. Myers Industries’s payout ratio is presently 284.21%.

Myers Industries declared that its Board of Directors has authorized a share 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 purchase 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 shares are undervalued.

Myers Industries Company 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.