GAMCO Investors Amends Myers Industries Stake

TL;DR

GAMCO just updated their 13D on MYERS. Big shareholder action.

AI Summary

GAMCO Investors, Inc. and its affiliates have filed an amendment (No. 66) to their Schedule 13D concerning Myers Industries, Inc. The filing, dated December 13, 2024, indicates a change in beneficial ownership of the common stock of Myers Industries, Inc. The specific details of the ownership change and the total percentage or number of shares held are not fully detailed in this excerpt.

Why It Matters

This filing signals a potential shift in major shareholder influence or strategy for Myers Industries, Inc., which could impact its stock performance and corporate direction.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D filings often indicate significant changes in a major shareholder's position, which can lead to increased stock volatility.

Key Players & Entities

• GAMCO Investors, Inc. (company) — Filing entity
• Myers Industries, Inc. (company) — Subject company
• David Goldman (person) — Contact person for GAMCO Investors

FAQ

Filing Documents

• mye_66.htm (SC 13D/A) — 231KB
• mye_66.pdf (SC 13D/A) — 544KB
• 0000807249-24-000188.txt ( ) — 982KB

Security and Issuer

Item 1. Security and Issuer This Amendment No. 66 to Schedule 13D on the Common Stock of Myers Industries, Inc. (the "Issuer") is being filed on behalf of the undersigned to amend the Schedule 13D, as amended (the "Schedule 13D") which was originally filed on October 25, 2006. Unless otherwise indicated, all capitalized terms used herein but not defined herein shall have the same meanings as set forth in the Schedule 13D.

Identity and Background

Item 2. Identity and Background

to Schedule 13D is amended, in pertinent part, as follows

Item 2 to Schedule 13D is amended, in pertinent part, as follows: This statement is being filed by various entities which except for LICT Corporation ("LICT) and CIBL, Inc. ("CIBL"), engage in various aspects of the securities business, primarily as investment adviser to various institutional and individual clients, including registered investment companies and pension plans, and as general partner or the equivalent of various private investment partnerships or private funds and as a registered broker-dealer. Certain of these entities may also make investments for their own accounts. Mario J. Gabelli ("Mario Gabelli") is deemed to directly or indirectly control these entities through his ownership interest. The foregoing persons in the aggregate often own beneficially more than 5% of a class of equity securities of a particular issuer. Although several of the foregoing persons are treated as institutional investors for purposes of reporting their beneficial ownership on the short-form Schedule 13G, the holdings of those who do not qualify as institutional investors may exceed the 1% threshold presented for filing on Schedule 13G or implementation of their investment philosophy may from time to time require action which could be viewed as not completely passive. In order to avoid any question as to whether their beneficial ownership is being reported on the proper form and in order to provide greater investment flexibility and administrative uniformity, these persons have decided to file their beneficial ownership reports on the more detailed Schedule 13D form rather than on the short-form Schedule 13G and thereby to provide more expansive disclosure than may be necessary. (a), (b) and (c) - This statement is being filed by one or more of the following persons: GGCP, Inc. ("GGCP"), GGCP Holdings LLC ("GGCP Holdings"), GAMCO Investors, Inc. ("GBL"), Associated Capital Group, Inc. ("AC"), Gabelli Funds, LLC ("Gabelli Funds"), GAMCO Asset Management Inc. ("GAMCO"), T

Purpose of Transaction

Item 4. Purpose of Transaction

to Schedule 13D is amended, in pertinent part, as follows

Item 4 to Schedule 13D is amended, in pertinent part, as follows: On December 13, 2024, GAMCO, on behalf of its clients, sent the attached presentation (Exhibit A) to directors of the Issuer, reflecting its thoughts on surfacing value within the Issuer's portfolio, focusing on the recent acquisition of Signature Systems.

Interest In Securities Of The Issuer

Item 5. Interest In Securities Of The Issuer

to Schedule 13D is amended, in pertinent part, as follows

Item 5 to Schedule 13D is amended, in pertinent part, as follows: (a) The aggregate number of Securities to which this Schedule 13D relates is 5,391,685 shares, representing 14.47% of the approximately 37,259,812 shares outstanding as reported in the Issuer's most recently filed Form 10-Q for the quarterly period ended September 30, 2024. The Reporting Persons beneficially own those Securities as follows: Name Shares of Common Stock % of Class of Common Gabelli Funds 1,557,150 4.18% GAMCO 3,377,135 9.06% MJG Associates 22,000 0.06% Teton Advisors 403,500 1.08% Foundation 30,000 0.08% AC 1,700 0.00% GCIA 200 0.00% Mario Gabelli is deemed to have beneficial ownership of the Securities owned beneficially by each of the foregoing persons. AC, GBL and GGCP are deemed to have beneficial ownership of the Securities owned beneficially by each of the foregoing persons other than Mario Gabelli and the Foundation. (b) Each of the Reporting Persons and Covered Persons has the sole power to vote or direct the vote and sole power to dispose or to direct the disposition of the Securities reported for it, either for its own benefit or for the benefit of its investment clients or its partners, as the case may be, except that (i) GAMCO does not have the authority to vote 94,300 of the reported shares, (ii) Gabelli Funds has sole dispositive and voting power with respect to the shares of the Issuer held by the Funds so long as the aggregate voting interest of all joint filers does not exceed 25% of their total voting interest in the Issuer and, in that event, the Proxy Voting Committee of each Fund shall respectively vote that Fund's shares, (iii) at any time, the Proxy Voting Committee of each such Fund may take and exercise in its sole discretion the entire voting power with respect to the shares held by such fund under special circumstances such as regulatory considerations, and (iv) the power of Mario Gabelli, AC, GBL, and GGCP is indirect with respect

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View this SC 13D/A filing on SEC EDGAR