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

Myers Industries, Inc. (NYSE:MYE - Get Free Report) Director Lori A. Lutey bought 1,000 shares of Myers Industries stock in a transaction that occurred on Thursday, December 5th. The stock was bought at an average cost of $12.15 per share, for a total transaction of $12,150.00. Following the purchase, the director now owns 12,500 shares in the company, valued at $151,875. This represents a 8.70 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Myers Industries Trading Down 0.9 %

MYE stock traded down $0.11 during midday trading on Friday, hitting $11.85. The stock had a trading volume of 385,955 shares, compared to its average volume of 304,880. 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 firm has a market cap of $441.53 million, a PE ratio of 28.36 and a beta of 1.22. The company's 50-day moving average price is $12.22 and its 200 day moving average price is $13.65. Myers Industries, Inc. has a 12-month low of $10.35 and a 12-month high of $23.63.

Myers Industries (NYSE:MYE - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.04). The company had revenue of $205.07 million for the quarter. Myers Industries had a net margin of 1.88% and a return on equity of 14.75%. During the same period in the previous year, the company earned $0.38 earnings per share. On average, equities research analysts predict that Myers Industries, Inc. will post 0.95 earnings per share for the current fiscal 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 issued a $0.135 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.54 annualized dividend and a yield of 4.56%. Myers Industries's payout ratio is 128.57%.

Institutional Investors Weigh In On Myers Industries

Several institutional investors have recently bought and sold shares of MYE. Quantbot Technologies LP boosted its position in Myers Industries by 8.0% in the 3rd quarter. Quantbot Technologies LP now owns 11,427 shares of the industrial products company's stock valued at $158,000 after buying an additional 846 shares during the last quarter. nVerses Capital LLC raised its stake in Myers Industries by 57.9% during the third quarter. nVerses Capital LLC now owns 3,000 shares of the industrial products company's stock worth $41,000 after acquiring an additional 1,100 shares during the period. Foundry Partners LLC boosted its position in Myers Industries by 1.0% during the 3rd quarter. Foundry Partners LLC now owns 127,508 shares of the industrial products company's stock valued at $1,762,000 after purchasing an additional 1,220 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Myers Industries by 10.0% in the second quarter. The Manufacturers Life Insurance Company now owns 14,959 shares of the industrial products company's stock valued at $200,000 after purchasing an additional 1,357 shares during the period. Finally, Point72 DIFC Ltd acquired a new position in shares of Myers Industries during the third quarter valued at $28,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.

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