GSA Capital Partners LLP Takes $246,000 Position in Myers Industries, Inc. (NYSE:MYE)

GSA Capital Partners LLP purchased a new position in shares of Myers Industries, Inc. (NYSE:MYE) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,767 shares of the industrial products company’s stock, valued at approximately $246,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Myers Industries by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 2,846,620 shares of the industrial products company’s stock worth $65,956,000 after acquiring an additional 182,215 shares in the last quarter. Victory Capital Management Inc. purchased a new position in Myers Industries during the second quarter worth about $13,684,000. American Century Companies Inc. grew its position in Myers Industries by 12.3% in the 2nd quarter. American Century Companies Inc. now owns 556,131 shares of the industrial products company’s stock worth $7,441,000 after purchasing an additional 60,935 shares in the last quarter. ClariVest Asset Management LLC increased its stake in Myers Industries by 60.0% in the 2nd quarter. ClariVest Asset Management LLC now owns 200,266 shares of the industrial products company’s stock valued at $2,680,000 after buying an additional 75,108 shares during the last quarter. Finally, Access Investment Management LLC bought a new position in shares of Myers Industries during the 3rd quarter worth approximately $879,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, KeyCorp downgraded Myers Industries from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, November 6th.

Myers Industries Trading Down 0.9 %

NYSE MYE opened at $11.13 on Friday. The business’s fifty day moving average is $12.65 and its 200-day moving average is $13.96. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.80 and a quick ratio of 1.11. The stock has a market capitalization of $414.70 million, a price-to-earnings ratio of 26.50 and a beta of 1.23. Myers Industries, Inc. has a one year low of $10.35 and a one year high of $23.63.

Myers Industries (NYSE:MYE) last announced its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.04). Myers Industries had a return on equity of 14.75% and a net margin of 1.88%. The company had revenue of $205.07 million during the quarter. During the same quarter last year, the company posted $0.38 earnings per share. Equities research analysts predict that Myers Industries, Inc. will post 0.95 EPS for the current year.

Myers Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 3rd will be paid a dividend of $0.135 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $0.54 annualized dividend and a dividend yield of 4.85%. Myers Industries’s payout ratio is 128.57%.

Myers Industries Company 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.