Teacher Retirement System of Texas Raises Stake in Myers Industries, Inc. (NYSE:MYE)

Teacher Retirement System of Texas lifted its stake in Myers Industries, Inc. (NYSE:MYE) by 41.8% during the fourth quarter, HoldingsChannel reports. The firm owned 48,898 shares of the industrial products company’s stock after purchasing an additional 14,414 shares during the period. Teacher Retirement System of Texas’ holdings in Myers Industries were worth $540,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Hotchkis & Wiley Capital Management LLC raised its position in Myers Industries by 60.2% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 624,010 shares of the industrial products company’s stock valued at $8,624,000 after purchasing an additional 234,390 shares in the last quarter. Boston Partners increased its stake in shares of Myers Industries by 105.5% during the fourth quarter. Boston Partners now owns 187,073 shares of the industrial products company’s stock valued at $2,065,000 after buying an additional 96,022 shares during the period. Barclays PLC raised its holdings in shares of Myers Industries by 464.7% in the third quarter. Barclays PLC now owns 74,072 shares of the industrial products company’s stock valued at $1,024,000 after acquiring an additional 60,954 shares in the last quarter. JPMorgan Chase & Co. lifted its stake 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 worth $1,845,000 after acquiring an additional 58,761 shares during the period. Finally, Access Investment Management LLC grew its holdings in Myers Industries by 75.0% during the 4th quarter. Access Investment Management LLC now owns 111,315 shares of the industrial products company’s stock worth $1,229,000 after acquiring an additional 47,710 shares in the last quarter. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Analyst Upgrades and Downgrades

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

Myers Industries Trading Up 0.4 %

NYSE MYE opened at $11.95 on Tuesday. The firm has a market cap of $445.50 million, a PE ratio of 28.44 and a beta of 1.21. Myers Industries, Inc. has a 52 week low of $9.32 and a 52 week high of $23.22. 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 company has a 50 day moving average price of $11.97 and a 200 day moving average price of $12.09.

Myers Industries (NYSE:MYE) last posted its quarterly earnings data 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. Myers Industries had a return on equity of 14.75% and a net margin of 1.88%. The firm had revenue of $203.88 million during the quarter, compared to analysts’ expectations of $203.10 million. As a group, sell-side analysts forecast that Myers Industries, Inc. will post 0.95 EPS for the current fiscal year.

Myers Industries declared that its Board of Directors has authorized a share repurchase plan on Thursday, March 6th that permits the company to repurchase $10.00 million in outstanding shares. This repurchase authorization permits the industrial products company to repurchase up to 2.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Myers Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be given a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 4.52%. The ex-dividend date is Friday, March 14th. Myers Industries’s payout ratio is currently 284.21%.

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.