12,535 Shares in Myers Industries, Inc. (NYSE:MYE) Purchased by Aigen Investment Management LP

Aigen Investment Management LP acquired a new position in shares of Myers Industries, Inc. (NYSE:MYE) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 12,535 shares of the industrial products company’s stock, valued at approximately $138,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Point72 DIFC Ltd acquired a new position in Myers Industries in the 3rd quarter valued at about $28,000. Point72 Asset Management L.P. acquired a new position in Myers Industries in the 3rd quarter valued at about $72,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Myers Industries in the 3rd quarter valued at about $85,000. Quest Partners LLC acquired a new position in Myers Industries in the 3rd quarter valued at about $150,000. Finally, Quantbot Technologies LP grew its position in Myers Industries by 8.0% in the 3rd quarter. Quantbot Technologies LP now owns 11,427 shares of the industrial products company’s stock valued at $158,000 after acquiring an additional 846 shares in the last quarter. 90.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Myers Industries Stock Performance

NYSE MYE opened at $13.14 on Tuesday. Myers Industries, Inc. has a 1-year low of $9.32 and a 1-year high of $23.63. The company has a market cap of $489.60 million, a P/E ratio of 31.29 and a beta of 1.21. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.80 and a quick ratio of 1.11. The stock has a 50-day moving average of $11.58 and a two-hundred day moving average of $12.31.

Myers Industries (NYSE:MYE) last announced its quarterly earnings data on Thursday, March 6th. The industrial products company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.09. Myers Industries had a return on equity of 14.75% and a net margin of 1.88%. The business had revenue of $203.88 million during the quarter, compared to the consensus estimate of $203.10 million. As a group, analysts anticipate that Myers Industries, Inc. will post 0.95 EPS for the current year.

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

Myers Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 14th will be given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date of this dividend is Friday, March 14th. Myers Industries’s dividend payout ratio is presently 284.21%.

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.