Goldman Sachs Group Inc. Purchases 34,787 Shares of Myers Industries, Inc. $MYE

Goldman Sachs Group Inc. lifted its position in shares of Myers Industries, Inc. (NYSE:MYE) by 12.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 320,996 shares of the industrial products company’s stock after acquiring an additional 34,787 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.86% of Myers Industries worth $3,829,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of Myers Industries by 586.6% during the first quarter. GAMMA Investing LLC now owns 2,609 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 2,229 shares during the last quarter. CWM LLC grew its stake in shares of Myers Industries by 829.7% during the first quarter. CWM LLC now owns 4,695 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 4,190 shares during the period. Ieq Capital LLC acquired a new stake in shares of Myers Industries during the first quarter worth $119,000. ProShare Advisors LLC acquired a new stake in shares of Myers Industries during the fourth quarter worth $114,000. Finally, Point72 Asset Management L.P. grew its stake in shares of Myers Industries by 184.6% during the fourth quarter. Point72 Asset Management L.P. now owns 14,800 shares of the industrial products company’s stock worth $163,000 after purchasing an additional 9,600 shares during the period. Institutional investors own 90.82% of the company’s stock.

Myers Industries Price Performance

Myers Industries stock opened at $16.07 on Thursday. Myers Industries, Inc. has a 12 month low of $9.06 and a 12 month high of $17.12. The stock’s 50 day moving average is $15.83 and its 200-day moving average is $13.55. The company has a current ratio of 1.77, a quick ratio of 1.12 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $600.99 million, a price-to-earnings ratio of 61.79 and a beta of 1.19.

Myers Industries (NYSE:MYE) last posted its earnings results on Thursday, July 31st. The industrial products company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.01). Myers Industries had a net margin of 1.20% and a return on equity of 13.02%. The firm had revenue of $209.58 million during the quarter, compared to analyst estimates of $220.60 million. Equities research analysts expect that Myers Industries, Inc. will post 0.95 EPS for the current year.

Myers Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Friday, September 12th will be given a $0.135 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.54 annualized dividend and a dividend yield of 3.4%. Myers Industries’s dividend payout ratio is presently 207.69%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. KeyCorp raised Myers Industries from a “sector weight” rating to an “overweight” rating and set a $21.00 price objective for the company in a research note on Friday, June 13th. Wall Street Zen raised Myers Industries from a “hold” rating to a “buy” rating in a research note on Sunday, June 22nd. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $21.00.

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.