Insider Buying: Myers Industries, Inc. (NYSE:MYE) Director Purchases 1,000 Shares of Stock

Myers Industries, Inc. (NYSE:MYE) Director Yvette Dapremont Bright bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was bought at an average cost of $11.60 per share, for a total transaction of $11,600.00. Following the completion of the transaction, the director now directly owns 20,961 shares of the company’s stock, valued at approximately $243,147.60. The trade was a 5.01 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Myers Industries Stock Performance

Shares of NYSE:MYE opened at $11.60 on Friday. The firm has a market capitalization of $432.03 million, a PE ratio of 27.61 and a beta of 1.23. Myers Industries, Inc. has a 12 month low of $10.35 and a 12 month high of $23.63. 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 business has a 50-day moving average of $12.43 and a two-hundred day moving average of $13.81.

Myers Industries (NYSE:MYE) last posted its earnings results on Monday, November 4th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.04). Myers Industries had a return on equity of 14.75% and a net margin of 1.88%. The business had revenue of $205.07 million for the quarter. During the same period in the previous year, the business posted $0.38 earnings per share. As a group, research analysts forecast that Myers Industries, Inc. will post 0.95 earnings per share for the current year.

Myers Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 3rd will be given a dividend of $0.135 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $0.54 dividend on an annualized basis and a yield of 4.66%. Myers Industries’s dividend payout ratio (DPR) is 128.57%.

Analysts Set New Price Targets

Separately, KeyCorp lowered shares of Myers Industries from an “overweight” rating to a “sector weight” rating in a report on Wednesday, November 6th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Myers Industries by 6.8% in the first quarter. Vanguard Group Inc. now owns 2,846,620 shares of the industrial products company’s stock valued at $65,956,000 after acquiring an additional 182,215 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Myers Industries by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,604,324 shares of the industrial products company’s stock worth $21,466,000 after buying an additional 4,777 shares during the period. Gabelli Funds LLC increased its stake in Myers Industries by 3.9% during the 2nd quarter. Gabelli Funds LLC now owns 1,572,250 shares of the industrial products company’s stock worth $21,037,000 after buying an additional 58,500 shares during the period. Renaissance Technologies LLC lifted its holdings in Myers Industries by 8.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,480,597 shares of the industrial products company’s stock worth $19,810,000 after buying an additional 113,100 shares in the last quarter. Finally, State Street Corp boosted its position in Myers Industries by 2.6% in the 3rd quarter. State Street Corp now owns 1,374,246 shares of the industrial products company’s stock valued at $19,176,000 after buying an additional 35,456 shares during the last quarter. 90.82% of the stock is owned by hedge funds and other institutional investors.

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.