GAMMA Investing LLC Grows Stock Position in Myers Industries, Inc. (NYSE:MYE)

GAMMA Investing LLC boosted its holdings in shares of Myers Industries, Inc. (NYSE:MYE - Free Report) by 8,090.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,125 shares of the industrial products company's stock after purchasing an additional 30,745 shares during the quarter. GAMMA Investing LLC owned about 0.08% of Myers Industries worth $371,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Myers Industries by 15.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 91,545 shares of the industrial products company's stock valued at $1,011,000 after acquiring an additional 12,567 shares during the last quarter. Squarepoint Ops LLC grew its holdings in Myers Industries by 480.6% during the 4th quarter. Squarepoint Ops LLC now owns 79,756 shares of the industrial products company's stock valued at $881,000 after purchasing an additional 66,018 shares during the last quarter. Two Sigma Investments LP grew its holdings in Myers Industries by 126.7% during the 4th quarter. Two Sigma Investments LP now owns 132,933 shares of the industrial products company's stock valued at $1,468,000 after purchasing an additional 74,291 shares during the last quarter. Point72 Asset Management L.P. raised its position in Myers Industries by 184.6% in the 4th 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. Finally, ProShare Advisors LLC bought a new stake in Myers Industries in the fourth quarter worth about $114,000. Institutional investors own 90.82% of the company's stock.

Myers Industries Trading Up 3.3%

Myers Industries stock traded up $0.46 during trading hours on Tuesday, hitting $14.72. The company had a trading volume of 276,209 shares, compared to its average volume of 325,110. The company has a 50-day moving average price of $12.28 and a two-hundred day moving average price of $11.83. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.14 and a current ratio of 1.78. Myers Industries, Inc. has a 1 year low of $9.06 and a 1 year high of $17.39. The firm has a market cap of $550.41 million, a P/E ratio of 52.59 and a beta of 1.12.

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

Myers Industries declared that its Board of Directors has initiated a share repurchase program on Thursday, March 6th that allows the company to buyback $10.00 million in outstanding shares. This buyback authorization allows the industrial products company to repurchase up to 2.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its stock is undervalued.

Myers Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 18th will be given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date is Wednesday, June 18th. Myers Industries's payout ratio is currently 192.86%.

Analyst Ratings Changes

A number of brokerages recently issued reports on MYE. KeyCorp raised Myers Industries from a "sector weight" rating to an "overweight" rating and set a $21.00 price target for the company in a research note on Friday, June 13th. Wall Street Zen upgraded Myers Industries from a "hold" rating to a "buy" rating in a research report on Sunday.

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.