Gamco Investors INC. ET AL Grows Stake in Myers Industries, Inc. $MYE

Key Points

• Gamco Investors INC. increased its holdings in Myers Industries by 2.9%, now owning approximately 9.32% of the company, which is valued at around $41.55 million.
• Myers Industries recently reported quarterly earnings with EPS of $0.31, missing estimates, and has a dividend yield of 3.3% based on its latest dividend payout.
• Analysts have upgraded Myers Industries, setting a consensus target price of $21.00 per share, indicating a positive outlook for the stock.

Gamco Investors INC. ET AL increased its holdings in shares of Myers Industries, Inc. (NYSE:MYE - Free Report) by 2.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,482,902 shares of the industrial products company's stock after purchasing an additional 99,417 shares during the quarter. Gamco Investors INC. ET AL owned 9.32% of Myers Industries worth $41,551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings 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 valued at $31,000 after purchasing an additional 2,229 shares in the last quarter. CWM LLC lifted 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 valued at $56,000 after purchasing an additional 4,190 shares in the last quarter. Aquatic Capital Management LLC lifted 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 valued at $61,000 after purchasing an additional 2,784 shares in the last quarter. ProShare Advisors LLC bought a new position in shares of Myers Industries during the fourth quarter valued at $114,000. Finally, Graham Capital Management L.P. bought a new position in Myers Industries in the fourth quarter valued at about $144,000. 90.82% of the stock is owned by institutional investors.

Myers Industries Stock Performance

Shares of NYSE MYE traded down $0.05 during trading on Friday, hitting $16.75. The company had a trading volume of 178,357 shares, compared to its average volume of 223,658. The stock has a 50 day simple moving average of $15.51 and a 200 day simple moving average of $13.13. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.12 and a current ratio of 1.77. Myers Industries, Inc. has a 12 month low of $9.06 and a 12 month high of $17.12. The firm has a market capitalization of $626.62 million, a P/E ratio of 64.42 and a beta of 1.15.

Myers Industries (NYSE:MYE - Get Free Report) last posted its quarterly earnings data 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 return on equity of 13.02% and a net margin of 1.20%.The company had revenue of $209.58 million during the quarter, compared to the consensus estimate of $220.60 million. As a group, analysts anticipate that Myers Industries, Inc. will post 0.95 earnings per share for the current year.

Myers Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 18th were paid a $0.135 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.54 annualized dividend and a dividend yield of 3.2%. Myers Industries's dividend payout ratio (DPR) is 207.69%.

Analysts Set New Price Targets

A number of research firms have weighed in on MYE. KeyCorp raised Myers Industries from a "sector weight" rating to an "overweight" rating and set a $21.00 target price on the stock in a report on Friday, June 13th. Wall Street Zen raised Myers Industries from a "hold" rating to a "buy" rating in a report on Sunday, June 22nd. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average 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.