Myers Industries, Inc. (NYSE:MYE) Short Interest Down 27.9% in January

Myers Industries, Inc. (NYSE:MYE - Get Free Report) was the target of a large decrease in short interest during the month of January. As of January 15th, there was short interest totalling 829,600 shares, a decrease of 27.9% from the December 31st total of 1,150,000 shares. Based on an average daily volume of 470,100 shares, the short-interest ratio is currently 1.8 days.

Analyst Ratings Changes

MYE has been the subject of several recent research reports. StockNews.com lowered Myers Industries from a "hold" rating to a "sell" rating in a research report on Tuesday, January 28th. KeyCorp cut Myers Industries from an "overweight" rating to a "sector weight" rating in a report on Wednesday, November 6th.

Insider Buying and Selling at Myers Industries

In other Myers Industries news, CEO Dave Basque bought 5,000 shares of the business's stock in a transaction that occurred on Thursday, December 5th. The stock was purchased at an average cost of $12.13 per share, with a total value of $60,650.00. Following the completion of the acquisition, the chief executive officer now owns 34,152 shares in the company, valued at $414,263.76. This trade represents a 17.15 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased 19,500 shares of company stock valued at $232,575 in the last 90 days. Insiders own 1.40% of the company's stock.

Institutional Trading of Myers Industries

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

Myers Industries Trading Up 1.8 %

Shares of Myers Industries stock traded up $0.22 during trading on Tuesday, hitting $12.24. The stock had a trading volume of 88,721 shares, compared to its average volume of 230,357. Myers Industries has a 12 month low of $10.35 and a 12 month high of $23.63. 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's fifty day simple moving average is $11.63 and its 200-day simple moving average is $12.78. The stock has a market cap of $456.06 million, a PE ratio of 29.27 and a beta of 1.22.

Myers Industries (NYSE:MYE - Get Free Report) last announced its earnings results 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). Myers Industries had a net margin of 1.88% and a return on equity of 14.75%. The business had revenue of $205.07 million for the quarter. During the same period in the previous year, the business earned $0.38 EPS. As a group, sell-side analysts expect that Myers Industries will post 0.95 EPS for the current fiscal year.

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.