Helmuth Ludwig Purchases 5,000 Shares of Myers Industries (NYSE:MYE) Stock

Myers Industries, Inc. (NYSE:MYE) Director Helmuth Ludwig bought 5,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were bought at an average cost of $17.21 per share, for a total transaction of $86,050.00. Following the purchase, the director owned 13,436 shares of the company’s stock, valued at approximately $231,233.56. The trade was a 59.27% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Myers Industries Stock Performance

NYSE MYE opened at $17.63 on Wednesday. The firm’s fifty day moving average price is $16.64 and its two-hundred day moving average price is $14.92. The stock has a market cap of $659.58 million, a PE ratio of 67.81 and a beta of 1.15. Myers Industries, Inc. has a fifty-two week low of $9.06 and a fifty-two week high of $18.29. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.12 and a current ratio of 1.77.

Myers Industries (NYSE:MYE) last posted its earnings results on Thursday, October 30th. The industrial products company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01. The firm had revenue of $205.44 million for the quarter, compared to analysts’ expectations of $206.40 million. Myers Industries had a net margin of 1.20% and a return on equity of 13.02%. On average, equities analysts expect that Myers Industries, Inc. will post 0.95 EPS for the current fiscal year.

Myers Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Wednesday, December 3rd will be issued a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Wednesday, December 3rd. Myers Industries’s payout ratio is 72.97%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MYE shares. Zacks Research lowered 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 lowered shares of Myers Industries from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $21.00.

Institutional Trading of Myers Industries

A number of institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its position in Myers Industries by 5.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 14,871 shares of the industrial products company’s stock valued at $248,000 after acquiring an additional 708 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Myers Industries by 30.2% during the second quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 861 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Myers Industries by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,835 shares of the industrial products company’s stock valued at $260,000 after acquiring an additional 936 shares during the last quarter. Fox Run Management L.L.C. boosted its position in Myers Industries by 5.0% during the first quarter. Fox Run Management L.L.C. now owns 23,904 shares of the industrial products company’s stock valued at $285,000 after acquiring an additional 1,148 shares during the last quarter. Finally, Tieton Capital Management LLC boosted its position in Myers Industries by 0.3% during the second quarter. Tieton Capital Management LLC now owns 434,850 shares of the industrial products company’s stock valued at $6,301,000 after acquiring an additional 1,260 shares during the last quarter. Institutional investors own 90.82% of the company’s stock.

About Myers Industries

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.