Insider Selling: Myers Industries, Inc. (MYE) Major Shareholder Sells $55,320.00 in Stock

Myers Industries, Inc. (NYSE:MYE) major shareholder Gamco Investors, Inc. Et Al sold 3,000 shares of the stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $18.44, for a total transaction of $55,320.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Gamco Investors, Inc. Et Al also recently made the following trade(s):

  • On Monday, May 8th, Gamco Investors, Inc. Et Al sold 500 shares of Myers Industries stock. The shares were sold at an average price of $16.87, for a total transaction of $8,435.00.
  • On Wednesday, April 5th, Gamco Investors, Inc. Et Al sold 400 shares of Myers Industries stock. The shares were sold at an average price of $16.89, for a total transaction of $6,756.00.
  • On Tuesday, March 21st, Gamco Investors, Inc. Et Al sold 1,400 shares of Myers Industries stock. The shares were sold at an average price of $14.85, for a total transaction of $20,790.00.

Shares of Myers Industries, Inc. (NYSE:MYE) traded down 0.54% on Monday, reaching $18.25. 72,371 shares of the company’s stock traded hands. The firm has a market cap of $548.94 million, a P/E ratio of 74.80 and a beta of 1.76. Myers Industries, Inc. has a 12-month low of $11.35 and a 12-month high of $19.45. The stock has a 50-day moving average of $17.28 and a 200 day moving average of $15.31.

Myers Industries (NYSE:MYE) last posted its quarterly earnings data on Monday, May 8th. The industrial products company reported $0.13 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.13. Myers Industries had a net margin of 1.38% and a return on equity of 11.57%. The firm had revenue of $141.70 million for the quarter, compared to the consensus estimate of $143.60 million. During the same quarter in the prior year, the company posted $0.21 earnings per share. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, equities research analysts expect that Myers Industries, Inc. will post $0.46 earnings per share for the current year.

Insider Buying and Selling by Quarter for Myers Industries (NYSE:MYE)

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Friday, June 16th will be issued a dividend of $0.135 per share. The ex-dividend date is Wednesday, June 14th. This represents a $0.54 annualized dividend and a dividend yield of 2.96%. Myers Industries’s dividend payout ratio (DPR) is currently 225.00%.

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Several institutional investors have recently bought and sold shares of MYE. Gabelli Funds LLC increased its position in Myers Industries by 0.8% in the first quarter. Gabelli Funds LLC now owns 1,550,876 shares of the industrial products company’s stock valued at $24,581,000 after buying an additional 12,464 shares during the period. Vanguard Group Inc. increased its position in Myers Industries by 4.5% in the first quarter. Vanguard Group Inc. now owns 1,400,774 shares of the industrial products company’s stock valued at $22,202,000 after buying an additional 59,870 shares during the period. Teton Advisors Inc. increased its position in Myers Industries by 0.8% in the first quarter. Teton Advisors Inc. now owns 612,900 shares of the industrial products company’s stock valued at $9,714,000 after buying an additional 5,000 shares during the period. State Street Corp increased its position in Myers Industries by 4.7% in the fourth quarter. State Street Corp now owns 498,762 shares of the industrial products company’s stock valued at $7,130,000 after buying an additional 22,327 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Myers Industries by 5.6% in the first quarter. Bank of New York Mellon Corp now owns 462,822 shares of the industrial products company’s stock valued at $7,335,000 after buying an additional 24,697 shares during the period. Hedge funds and other institutional investors own 85.10% of the company’s stock.

Several equities research analysts have weighed in on MYE shares. TheStreet raised shares of Myers Industries from a “c” rating to a “b-” rating in a research report on Monday, May 8th. Zacks Investment Research upgraded shares of Myers Industries from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Tuesday, March 14th.

About Myers Industries

Myers Industries, Inc is an international manufacturing and distribution company. The Company operates through two segments: Material Handling and Distribution. As of December 31, 2016, the Company operated 15 manufacturing facilities, 20 sales offices, four distribution centers and three distribution branches located throughout North, Central and South America.

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