GSA Capital Partners LLP raised its holdings in shares of Myers Industries, Inc. (NYSE:MYE) by 81.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,015 shares of the industrial products company’s stock after purchasing an additional 9,457 shares during the quarter. GSA Capital Partners LLP owned approximately 0.06% of Myers Industries worth $278,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Myers Industries by 7.1% during the 2nd quarter. Vanguard Group Inc. now owns 2,686,096 shares of the industrial products company’s stock worth $39,082,000 after acquiring an additional 177,023 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Myers Industries by 25.6% in the third quarter. Wells Fargo & Company MN now owns 2,053,909 shares of the industrial products company’s stock worth $27,173,000 after purchasing an additional 418,209 shares during the last quarter. State Street Corp increased its stake in shares of Myers Industries by 7.6% during the first quarter. State Street Corp now owns 1,146,544 shares of the industrial products company’s stock valued at $12,477,000 after buying an additional 80,518 shares during the period. Bank of New York Mellon Corp increased its position in Myers Industries by 5.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 522,394 shares of the industrial products company’s stock valued at $7,601,000 after purchasing an additional 26,634 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of Myers Industries by 1.5% in the second quarter. Principal Financial Group Inc. now owns 275,206 shares of the industrial products company’s stock valued at $4,004,000 after acquiring an additional 3,939 shares in the last quarter. 89.68% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE MYE opened at $17.78 on Friday. Myers Industries, Inc. has a 12-month low of $6.91 and a 12-month high of $17.84. The stock’s fifty day simple moving average is $14.95 and its two-hundred day simple moving average is $14.44. The stock has a market capitalization of $636.97 million, a PE ratio of 16.16 and a beta of 1.45. The company has a current ratio of 1.70, a quick ratio of 1.31 and a debt-to-equity ratio of 0.20.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 5th. Stockholders of record on Monday, December 7th will be paid a dividend of $0.135 per share. The ex-dividend date is Friday, December 4th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.04%. Myers Industries’s payout ratio is 69.23%.
In other Myers Industries news, Director William A. Foley acquired 2,380 shares of the company’s stock in a transaction on Friday, November 13th. The shares were bought at an average cost of $16.27 per share, with a total value of $38,722.60. Following the completion of the acquisition, the director now owns 26,250 shares in the company, valued at $427,087.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lori A. Lutey bought 10,000 shares of Myers Industries stock in a transaction dated Thursday, November 19th. The shares were acquired at an average cost of $17.02 per share, with a total value of $170,200.00. Following the completion of the purchase, the director now owns 6,237 shares in the company, valued at $106,153.74. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 13,500 shares of company stock worth $227,724. 0.74% of the stock is owned by company insiders.
Several research firms recently commented on MYE. ValuEngine lowered Myers Industries from a “hold” rating to a “sell” rating in a research report on Friday, November 13th. Zacks Investment Research lowered shares of Myers Industries from a “buy” rating to a “hold” rating in a report on Tuesday, September 29th.
About Myers Industries
Myers Industries, Inc manufactures and sells polymer products for industrial, agricultural, automotive, commercial, and consumer markets in the United States and internationally. It operates through two segments, Material Handling and Distribution. The Material Handling segment designs, manufactures, and markets various plastic and metal products, including plastic reusable material handling containers and small parts storage bins, plastic recreational vehicle tanks and parts, marine tanks and parts, portable plastic fuel tanks and water containers, portable marine fuel containers, ammunition containers, storage totes, bulk shipping containers, and metal carts and cabinets.
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