Myers Industries, Inc. (NYSE:MYE) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC lifted its position in Myers Industries, Inc. (NYSE:MYE) by 586.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,609 shares of the industrial products company’s stock after acquiring an additional 2,229 shares during the quarter. GAMMA Investing LLC’s holdings in Myers Industries were worth $31,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in MYE. Rhumbline Advisers boosted its position in Myers Industries by 4.6% during the 1st quarter. Rhumbline Advisers now owns 54,098 shares of the industrial products company’s stock valued at $645,000 after purchasing an additional 2,389 shares during the period. Nuveen Asset Management LLC boosted its position in Myers Industries by 2.8% during the 4th quarter. Nuveen Asset Management LLC now owns 437,753 shares of the industrial products company’s stock valued at $4,833,000 after purchasing an additional 11,985 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Myers Industries during the 4th quarter valued at approximately $309,000. Barington Capital Group L.P. acquired a new position in Myers Industries during the 4th quarter valued at approximately $9,055,000. Finally, D. E. Shaw & Co. Inc. boosted its position in Myers Industries by 828.5% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 227,283 shares of the industrial products company’s stock valued at $2,509,000 after purchasing an additional 202,805 shares during the period. Institutional investors and hedge funds own 90.82% of the company’s stock.

Myers Industries Stock Down 0.1%

Shares of Myers Industries stock opened at $15.43 on Friday. The firm has a market capitalization of $576.77 million, a PE ratio of 55.11 and a beta of 1.14. Myers Industries, Inc. has a 12-month low of $9.06 and a 12-month high of $17.39. The company has a quick ratio of 1.14, a current ratio of 1.78 and a debt-to-equity ratio of 1.34. The stock’s fifty day moving average is $13.69 and its 200-day moving average is $12.14.

Myers Industries (NYSE:MYE) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.03. Myers Industries had a return on equity of 14.02% and a net margin of 1.26%. The firm had revenue of $206.75 million for the quarter, compared to analyst estimates of $206.80 million. Equities analysts anticipate that Myers Industries, Inc. will post 0.95 earnings per share for the current year.

Myers Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 18th were given a dividend of $0.135 per share. The ex-dividend date was Wednesday, June 18th. This represents a $0.54 annualized dividend and a dividend yield of 3.50%. Myers Industries’s dividend payout ratio is presently 192.86%.

Analyst Upgrades and Downgrades

MYE has been the subject of a number of analyst reports. Wall Street Zen upgraded Myers Industries from a “hold” rating to a “buy” rating in a research report on Sunday, June 22nd. KeyCorp raised Myers Industries from a “sector weight” rating to an “overweight” rating and set a $21.00 price objective on the stock in a research note on Friday, June 13th.

About Myers Industries

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.