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Myers Industries, Inc. (NYSE:MYE) shares didn’t see a lot of action during the third quarter. Overall, hedge fund sentiment was unchanged. The stock was in 9 hedge funds’ portfolios at the end of September. At the end of this article we will also compare MYE to other stocks including Axcelis Technologies Inc (NASDAQ:ACLS), Fly Leasing Ltd(ADR) (NYSE:FLY), and Audentes Therapeutics Inc (NASDAQ:BOLD) to get a better sense of its popularity.
Follow Myers Industries Inc (NYSE:MYE)
Follow Myers Industries Inc (NYSE:MYE)
At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 18% gains over the past 12 months, more than doubling the 8% returns enjoyed by the S&P 500 ETFs.
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Keeping this in mind, we’re going to view the latest action encompassing Myers Industries, Inc. (NYSE:MYE).
How are hedge funds trading Myers Industries, Inc. (NYSE:MYE)?
Heading into the fourth quarter of 2016, a total of 9 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 0% from one quarter earlier. Below, you can check out the change in hedge fund sentiment towards MYE over the last 5 quarters. So, let’s check out which hedge funds were among the top holders of the stock and which hedge funds were making big moves.
Of the funds tracked by Insider Monkey, Mario Gabelli’s GAMCO Investors has the largest position in Myers Industries, Inc. (NYSE:MYE), worth close to $65.5 million, corresponding to 0.4% of its total 13F portfolio. The second most bullish fund manager is Jim Simons of Renaissance Technologies, one of the biggest hedge funds in the world, with a $1.4 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Other professional money managers that are bullish contain John Overdeck and David Siegel’s Two Sigma Advisors, Israel Englander’s Millennium Management and D. E. Shaw’s D E Shaw. We should note that none of these hedge funds are among our list of the 100 best performing hedge funds which is based on the performance of their 13F long positions in non-microcap stocks.
