Gamco Investors INC. ET AL Sells 69,636 Shares of Myers Industries, Inc. $MYE

Gamco Investors INC. ET AL lessened its stake in shares of Myers Industries, Inc. (NYSE:MYE) by 2.0% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 3,429,720 shares of the industrial products company’s stock after selling 69,636 shares during the quarter. Myers Industries makes up about 0.7% of Gamco Investors INC. ET AL’s portfolio, making the stock its 22nd largest position. Gamco Investors INC. ET AL owned approximately 0.09% of Myers Industries worth $72,641,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership boosted its stake in Myers Industries by 10.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 712,692 shares of the industrial products company’s stock valued at $15,095,000 after acquiring an additional 67,080 shares during the last quarter. Caxton Associates LLP purchased a new stake in shares of Myers Industries during the 1st quarter worth approximately $205,000. Sei Investments Co. increased its stake in shares of Myers Industries by 77.5% during the 1st quarter. Sei Investments Co. now owns 358,375 shares of the industrial products company’s stock worth $7,590,000 after purchasing an additional 156,470 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Myers Industries by 29.9% in the 1st quarter. First Trust Advisors LP now owns 14,611 shares of the industrial products company’s stock worth $309,000 after purchasing an additional 3,360 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Myers Industries by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,589,420 shares of the industrial products company’s stock worth $33,663,000 after purchasing an additional 39,565 shares during the period. Institutional investors own 90.82% of the company’s stock.

Analysts Set New Price Targets

MYE has been the subject of several research reports. Wall Street Zen lowered Myers Industries from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings lowered Myers Industries from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, KeyCorp upped their price target on Myers Industries from $26.00 to $37.00 and gave the company an “overweight” rating in a research report on Tuesday, June 30th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $37.00.

Myers Industries Price Performance

MYE opened at $31.33 on Friday. The firm has a 50-day moving average price of $27.59 and a 200-day moving average price of $23.47. Myers Industries, Inc. has a twelve month low of $12.96 and a twelve month high of $35.75. The company has a quick ratio of 1.29, a current ratio of 1.65 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 44.75 and a beta of 0.88.

Myers Industries (NYSE:MYE) last announced its quarterly earnings results on Thursday, May 7th. The industrial products company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.16. Myers Industries had a net margin of 3.36% and a return on equity of 17.23%. The company had revenue of $164.58 million for the quarter, compared to analysts’ expectations of $209.30 million.

Myers Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Wednesday, June 17th were given a $0.135 dividend. The ex-dividend date was Wednesday, June 17th. This represents a $0.54 annualized dividend and a dividend yield of 1.7%. Myers Industries’s payout ratio is 77.14%.

About Myers Industries

Myers Industries, Inc is a diversified manufacturer of polymer products serving industrial, commercial and consumer markets. The company designs, produces and markets a broad range of molded and fabricated plastic components, including pallets, bulk containers, tanks and drums used in material handling and storage applications. Myers Industries leverages proprietary polymer technologies to provide durable, reusable solutions that help customers optimize supply chain efficiency and reduce environmental impact.

Myers operates primarily through two business segments.