Teton Advisors Inc. Has $4.15 Million Stake in Myers Industries, Inc. $MYE

Key Points

• Teton Advisors Inc. reduced its stake in Myers Industries by 12.9%, selling 51,500 shares and bringing its total holdings down to 347,500 shares, worth approximately $4.15 million.
• Despite the reduction from Teton Advisors, other institutional investors like Gamco Investors and Vanguard Group increased their positions in Myers Industries during the same quarter.
• Myers Industries recently reported a quarterly earnings miss with earnings per share at $0.31, falling short of the estimated $0.32, and a revenue of $209.58 million below analyst expectations of $220.60 million.

Teton Advisors Inc. cut its stake in Myers Industries, Inc. (NYSE:MYE - Free Report) by 12.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 347,500 shares of the industrial products company's stock after selling 51,500 shares during the period. Myers Industries accounts for about 2.6% of Teton Advisors Inc.'s investment portfolio, making the stock its 3rd biggest position. Teton Advisors Inc. owned approximately 0.93% of Myers Industries worth $4,146,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Gamco Investors INC. ET AL raised its stake in shares of Myers Industries by 2.9% in the first quarter. Gamco Investors INC. ET AL now owns 3,482,902 shares of the industrial products company's stock worth $41,551,000 after acquiring an additional 99,417 shares during the last quarter. Gabelli Funds LLC raised its stake in shares of Myers Industries by 0.8% in the first quarter. Gabelli Funds LLC now owns 1,575,150 shares of the industrial products company's stock worth $18,792,000 after acquiring an additional 12,000 shares during the last quarter. Walleye Capital LLC bought a new position in shares of Myers Industries in the first quarter worth about $186,000. Hsbc Holdings PLC raised its stake in shares of Myers Industries by 150.1% in the first quarter. Hsbc Holdings PLC now owns 30,122 shares of the industrial products company's stock worth $361,000 after acquiring an additional 18,080 shares during the last quarter. Finally, Versor Investments LP raised its stake in shares of Myers Industries by 208.1% in the first quarter. Versor Investments LP now owns 72,700 shares of the industrial products company's stock worth $867,000 after acquiring an additional 49,100 shares during the last quarter. 90.82% of the stock is owned by institutional investors.

Myers Industries Trading Down 0.3%

Shares of MYE traded down $0.05 on Friday, reaching $16.75. 178,357 shares of the company's stock were exchanged, compared to its average volume of 223,658. 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 $626.62 million, a P/E ratio of 64.42 and a beta of 1.15. The business has a 50 day moving average price of $15.51 and a two-hundred day moving average price of $13.13. Myers Industries, Inc. has a 12 month low of $9.06 and a 12 month high of $17.12.

Myers Industries (NYSE:MYE - Get Free Report) last issued 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 the consensus estimate of $220.60 million. Research analysts anticipate that Myers Industries, Inc. will post 0.95 earnings per share for the current year.

Myers Industries Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on MYE shares. Wall Street Zen raised shares of Myers Industries from a "hold" rating to a "buy" rating in a research note on Sunday, June 22nd. KeyCorp raised 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 research note on Friday, June 13th. One analyst has rated the stock with a Buy rating, According to MarketBeat, Myers Industries presently has a consensus rating of "Buy" and a consensus price target 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.