Tieton Capital Management LLC Has $3.41 Million Stake in Myers Industries, Inc. (NYSE:MYE)

Tieton Capital Management LLC boosted its holdings in Myers Industries, Inc. (NYSE:MYE) by 32.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 246,920 shares of the industrial products company’s stock after purchasing an additional 59,995 shares during the quarter. Myers Industries comprises approximately 1.8% of Tieton Capital Management LLC’s investment portfolio, making the stock its 27th largest holding. Tieton Capital Management LLC’s holdings in Myers Industries were worth $3,412,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in MYE. Foundry Partners LLC raised its holdings in shares of Myers Industries by 1.0% during the third quarter. Foundry Partners LLC now owns 127,508 shares of the industrial products company’s stock valued at $1,762,000 after acquiring an additional 1,220 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Myers Industries during the 3rd quarter valued at about $972,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Myers Industries during the 3rd quarter valued at about $187,000. Quest Partners LLC purchased a new stake in shares of Myers Industries during the 3rd quarter valued at about $150,000. Finally, Metis Global Partners LLC purchased a new stake in shares of Myers Industries during the 3rd quarter valued at about $192,000. 90.82% of the stock is currently owned by institutional investors.

Myers Industries Stock Down 0.9 %

NYSE MYE opened at $11.13 on Friday. The firm has a market capitalization of $414.52 million, a price-to-earnings ratio of 26.49 and a beta of 1.23. Myers Industries, Inc. has a 52 week low of $10.35 and a 52 week high of $23.63. 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 fifty day moving average of $12.65 and a two-hundred day moving average of $13.99.

Myers Industries (NYSE:MYE) last issued its earnings results on Monday, November 4th. The industrial products company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.04). Myers Industries had a net margin of 1.88% and a return on equity of 14.75%. The firm had revenue of $205.07 million during the quarter. During the same quarter in the prior year, the company posted $0.38 EPS. On average, analysts predict that Myers Industries, Inc. will post 0.95 earnings per share for the current year.

Myers Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 3rd will be issued a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date is Tuesday, December 3rd. Myers Industries’s dividend payout ratio (DPR) is 128.57%.

Wall Street Analysts Forecast Growth

Separately, KeyCorp cut shares of Myers Industries from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, November 6th.

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.