Myers Industries (NYSE:MYE) Director Buys $17,450.00 in Stock

Myers Industries, Inc. (NYSE:MYE) Director Yvette Dapremont Bright purchased 1,000 shares of Myers Industries stock in a transaction dated Monday, November 3rd. The stock was acquired at an average price of $17.45 per share, for a total transaction of $17,450.00. Following the completion of the transaction, the director owned 28,711 shares in the company, valued at approximately $501,006.95. The trade was a 3.61% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Myers Industries Stock Performance

Shares of MYE traded down $0.46 during midday trading on Tuesday, hitting $17.63. 421,183 shares of the stock traded hands, compared to its average volume of 277,443. Myers Industries, Inc. has a 1-year low of $9.06 and a 1-year high of $18.29. The firm has a market capitalization of $659.58 million, a PE ratio of 67.81 and a beta of 1.15. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.12 and a current ratio of 1.77. The business’s 50 day moving average price is $16.62 and its two-hundred day moving average price is $14.86.

Myers Industries (NYSE:MYE) last announced its quarterly earnings results on Thursday, October 30th. The industrial products company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.01. Myers Industries had a net margin of 1.20% and a return on equity of 13.02%. The company had revenue of $205.44 million during the quarter, compared to the consensus estimate of $206.40 million. Equities research analysts predict that Myers Industries, Inc. will post 0.95 EPS for the current fiscal year.

Myers Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Wednesday, December 3rd will be issued a $0.135 dividend. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $0.54 annualized dividend and a yield of 3.1%. Myers Industries’s dividend payout ratio is presently 72.97%.

Institutional Trading of Myers Industries

A number of hedge funds have recently made changes to their positions in MYE. GAMMA Investing LLC lifted its position in shares of Myers Industries by 586.6% in the first quarter. GAMMA Investing LLC now owns 2,609 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 2,229 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in Myers Industries by 102.2% in the first quarter. Teacher Retirement System of Texas now owns 98,877 shares of the industrial products company’s stock worth $1,180,000 after buying an additional 49,979 shares during the last quarter. CWM LLC increased its holdings in Myers Industries by 829.7% in the first quarter. CWM LLC now owns 4,695 shares of the industrial products company’s stock worth $56,000 after buying an additional 4,190 shares during the last quarter. Y Intercept Hong Kong Ltd increased its stake in shares of Myers Industries by 19.6% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 39,621 shares of the industrial products company’s stock worth $473,000 after purchasing an additional 6,502 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Myers Industries during the 1st quarter worth $1,134,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MYE shares. Zacks Research cut shares of Myers Industries from a “hold” rating to a “strong sell” rating in a report on Thursday, October 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Myers Industries in a report on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Myers Industries from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $21.00.

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.