GSA Capital Partners LLP Invests $680,000 in Myers Industries, Inc. (NYSE:MYE)

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 purchased a new stake in Myers Industries, Inc. (NYSE:MYE - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm purchased 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 have also bought and sold shares of MYE. Barington Capital Group L.P. bought a new position in Myers Industries during the fourth quarter worth about $9,055,000. Millennium Management LLC raised its position in shares of Myers Industries by 824.9% during the fourth quarter. Millennium Management LLC now owns 887,760 shares of the industrial products company's stock worth $9,801,000 after purchasing an additional 791,780 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Myers Industries by 175.7% during the 4th quarter. Ameriprise Financial Inc. now owns 805,608 shares of the industrial products company's stock valued at $8,895,000 after purchasing an additional 513,431 shares in the last quarter. Invenomic Capital Management LP acquired a new position in shares of Myers Industries in the 4th quarter valued at approximately $4,269,000. Finally, Jane Street Group LLC increased its stake in Myers Industries by 605.4% during the 4th quarter. Jane Street Group LLC now owns 388,873 shares of the industrial products company's stock worth $4,293,000 after purchasing an additional 333,746 shares in the last quarter. Institutional investors own 90.82% of the company's stock.

Myers Industries Stock Performance

MYE stock traded down $0.16 during trading hours on Wednesday, reaching $15.69. The stock had a trading volume of 44,939 shares, compared to its average volume of 289,930. The stock has a 50-day simple moving average of $14.64 and a 200 day simple moving average of $12.61. Myers Industries, Inc. has a fifty-two week low of $9.06 and a fifty-two week high of $16.10. The stock has a market capitalization of $587.04 million, a PE ratio of 60.38 and a beta of 1.15. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.77 and a quick ratio of 1.12.

Myers Industries (NYSE:MYE - Get Free Report) last issued its earnings results on Thursday, July 31st. The industrial products company reported $0.31 earnings per share (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. Analysts predict that Myers Industries, Inc. will post 0.95 EPS for the current fiscal year.

Myers Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 18th were paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Wednesday, June 18th. Myers Industries's payout ratio is currently 207.69%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on MYE shares. KeyCorp raised shares of Myers Industries from a "sector weight" rating to an "overweight" rating and set a $21.00 target price 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 report on Sunday, June 22nd.

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.