Janney Montgomery Scott LLC Takes Position in Myers Industries, Inc. (NYSE:MYE)

Janney Montgomery Scott LLC purchased a new stake in shares of Myers Industries, Inc. (NYSE:MYE - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 26,281 shares of the industrial products company's stock, valued at approximately $290,000. Janney Montgomery Scott LLC owned about 0.07% of Myers Industries as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Point72 DIFC Ltd bought a new position in shares of Myers Industries during the 3rd quarter valued at approximately $28,000. nVerses Capital LLC grew its stake in shares of Myers Industries by 57.9% during the 3rd quarter. nVerses Capital LLC now owns 3,000 shares of the industrial products company's stock valued at $41,000 after acquiring an additional 1,100 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Myers Industries during the 3rd quarter valued at approximately $72,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Myers Industries during the 3rd quarter valued at approximately $85,000. Finally, Quest Partners LLC bought a new position in shares of Myers Industries during the 3rd quarter valued at approximately $150,000. Hedge funds and other institutional investors own 90.82% of the company's stock.

Insider Activity

In other news, CEO Dave Basque bought 5,000 shares of the stock in a transaction dated Monday, December 9th. The stock was purchased at an average cost of $12.41 per share, for a total transaction of $62,050.00. Following the transaction, the chief executive officer now owns 39,152 shares of the company's stock, valued at $485,876.32. The trade was a 14.64 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders bought 19,500 shares of company stock worth $232,575. 1.40% of the stock is currently owned by insiders.

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Analysts Set New Price Targets

A number of brokerages recently issued reports on MYE. StockNews.com downgraded Myers Industries from a "hold" rating to a "sell" rating in a research note on Tuesday, January 28th. KeyCorp downgraded Myers Industries from an "overweight" rating to a "sector weight" rating in a research note on Wednesday, November 6th.

Myers Industries Price Performance

MYE stock traded up $0.01 during midday trading on Friday, hitting $12.05. The company's stock had a trading volume of 129,265 shares, compared to its average volume of 195,542. Myers Industries, Inc. has a 12 month low of $10.35 and a 12 month high of $23.63. The company has a quick ratio of 1.11, a current ratio of 1.80 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $448.98 million, a price-to-earnings ratio of 28.69 and a beta of 1.23. The company has a 50 day moving average of $11.71 and a two-hundred day moving average of $12.64.

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.