Myers Industries, Inc. (NYSE:MYE) CEO Aaron M. Schapper Acquires 1,972 Shares

Myers Industries, Inc. (NYSE:MYE - Get Free Report) CEO Aaron M. Schapper acquired 1,972 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average price of $12.67 per share, for a total transaction of $24,985.24. Following the completion of the transaction, the chief executive officer now owns 1,972 shares in the company, valued at $24,985.24. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

Myers Industries Price Performance

Shares of NYSE MYE traded up $0.23 during trading on Monday, hitting $13.01. 538,888 shares of the company were exchanged, compared to its average volume of 310,789. The company has a market cap of $485.03 million, a price-to-earnings ratio of 30.96 and a beta of 1.21. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.80 and a quick ratio of 1.11. Myers Industries, Inc. has a 1 year low of $9.32 and a 1 year high of $23.63. The firm's fifty day moving average price is $11.73 and its 200 day moving average price is $12.24.

Myers Industries (NYSE:MYE - Get Free Report) last released its quarterly earnings results on Thursday, March 6th. The industrial products company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.09. Myers Industries had a return on equity of 14.75% and a net margin of 1.88%. The business had revenue of $203.88 million during the quarter, compared to the consensus estimate of $203.10 million. On average, sell-side analysts expect that Myers Industries, Inc. will post 0.95 earnings per share for the current fiscal year.

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Myers Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be issued a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend is Friday, March 14th. Myers Industries's dividend payout ratio (DPR) is 284.21%.

Myers Industries announced that its board has approved a stock repurchase plan on Thursday, March 6th that allows the company to repurchase $10.00 million in shares. This repurchase authorization allows the industrial products company to reacquire up to 2.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Institutional Trading of Myers Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MYE. Gamco Investors INC. ET AL grew its holdings in shares of Myers Industries by 2.9% during the 4th quarter. Gamco Investors INC. ET AL now owns 3,383,485 shares of the industrial products company's stock worth $37,354,000 after purchasing an additional 96,400 shares during the period. Renaissance Technologies LLC raised its position in shares of Myers Industries by 11.8% in the 4th quarter. Renaissance Technologies LLC now owns 1,586,991 shares of the industrial products company's stock valued at $17,520,000 after purchasing an additional 167,894 shares in the last quarter. Gabelli Funds LLC raised its position in shares of Myers Industries by 0.5% during the 4th quarter. Gabelli Funds LLC now owns 1,563,150 shares of the industrial products company's stock valued at $17,257,000 after acquiring an additional 8,000 shares in the last quarter. State Street Corp raised its position in shares of Myers Industries by 2.6% during the 3rd quarter. State Street Corp now owns 1,374,246 shares of the industrial products company's stock valued at $19,176,000 after acquiring an additional 35,456 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Myers Industries by 1.1% during the 3rd quarter. Victory Capital Management Inc. now owns 1,034,125 shares of the industrial products company's stock valued at $14,292,000 after acquiring an additional 11,434 shares in the last quarter. Hedge funds and other institutional investors own 90.82% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Myers Industries from a "sell" rating to a "hold" rating in a research report on Friday, March 7th.

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.