57,010 Shares in Myers Industries, Inc. (NYSE:MYE) Bought by GSA Capital Partners LLP

Key Points

• GSA Capital Partners LLP acquired 57,010 shares of Myers Industries, Inc. (NYSE:MYE) valued at approximately $680,000, representing a 0.15% ownership stake in the company.
• Several institutional investors significantly increased their stakes in Myers Industries during the first quarter, including GAMMA Investing LLC, which boosted its stake by 586.6%.
• Myers Industries announced a quarterly dividend of $0.135, translating to an annualized yield of 3.6%, with a payout ratio of 192.86%.

GSA Capital Partners LLP bought a new position in Myers Industries, Inc. (NYSE:MYE - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 57,010 shares of the industrial products company's stock, valued at approximately $680,000. GSA Capital Partners LLP owned 0.15% of Myers Industries at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in MYE. GAMMA Investing LLC boosted its holdings in shares of Myers Industries by 586.6% in the first quarter. GAMMA Investing LLC now owns 2,609 shares of the industrial products company's stock worth $31,000 after buying an additional 2,229 shares during the period. CWM LLC boosted its holdings 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. Aquatic Capital Management LLC boosted its holdings in shares of Myers Industries by 103.1% during the fourth quarter. Aquatic Capital Management LLC now owns 5,484 shares of the industrial products company's stock worth $61,000 after purchasing an additional 2,784 shares during the period. ProShare Advisors LLC acquired a new stake in shares of Myers Industries during the fourth quarter worth approximately $114,000. Finally, Graham Capital Management L.P. acquired a new stake in shares of Myers Industries during the fourth quarter worth approximately $144,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MYE has been the subject of several research reports. Wall Street Zen upgraded shares of Myers Industries from a "hold" rating to a "buy" rating in a report on Sunday, June 22nd. KeyCorp upgraded shares of Myers Industries from a "sector weight" rating to an "overweight" rating and set a $21.00 price target for the company in a report on Friday, June 13th.

Myers Industries Stock Up 0.6%

NYSE MYE traded up $0.09 during trading on Tuesday, reaching $15.86. The company's stock had a trading volume of 217,457 shares, compared to its average volume of 291,191. 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 stock has a market capitalization of $592.85 million, a PE ratio of 61.00 and a beta of 1.15. The business has a 50-day moving average price of $14.58 and a 200-day moving average price of $12.58. Myers Industries, Inc. has a 1-year low of $9.06 and a 1-year high of $16.10.

Myers Industries (NYSE:MYE - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.31 EPS for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $220.60 million. On average, research analysts forecast that Myers Industries, Inc. will post 0.95 earnings per share for the current fiscal year.

Myers Industries Announces Dividend

The business also recently announced 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 of this dividend was Wednesday, June 18th. This represents a $0.54 dividend on an annualized basis and a yield of 3.4%. Myers Industries's payout ratio is 207.69%.

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.