Myers Industries, Inc. (NYSE:MYE) Short Interest Update

Myers Industries, Inc. (NYSE:MYE - Get Free Report) was the target of a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 931,800 shares, a drop of 16.8% from the November 15th total of 1,120,000 shares. Based on an average daily volume of 422,500 shares, the short-interest ratio is presently 2.2 days.

Analyst Ratings Changes

Separately, KeyCorp cut Myers Industries from an "overweight" rating to a "sector weight" rating in a research note on Wednesday, November 6th.

Insiders Place Their Bets

In related news, CEO Dave Basque bought 5,000 shares of Myers Industries stock in a transaction dated Monday, December 9th. The shares were acquired at an average cost of $12.41 per share, with a total value of $62,050.00. Following the completion of the transaction, the chief executive officer now owns 39,152 shares in the company, valued at $485,876.32. The trade was a 14.64 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have acquired a total of 19,500 shares of company stock worth $232,575 over the last quarter. Company insiders own 1.40% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in MYE. nVerses Capital LLC bought a new position in shares of Myers Industries during the 2nd quarter worth approximately $25,000. Point72 DIFC Ltd purchased a new position in Myers Industries in the third quarter worth $28,000. Point72 Asset Management L.P. acquired a new position in shares of Myers Industries during the third quarter worth $72,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Myers Industries during the 3rd quarter valued at $85,000. Finally, Quest Partners LLC purchased a new position in Myers Industries during the 3rd quarter worth $150,000. 90.82% of the stock is owned by institutional investors.

Myers Industries Stock Up 2.9 %

Shares of MYE stock traded up $0.35 on Friday, hitting $12.30. The stock had a trading volume of 305,055 shares, compared to its average volume of 306,946. Myers Industries has a one year low of $10.35 and a one year high of $23.63. The business has a 50 day moving average price of $12.09 and a 200 day moving average price of $13.50. The company has a market cap of $458.30 million, a PE ratio of 29.29 and a beta of 1.22. The company has a quick ratio of 1.11, a current ratio of 1.80 and a debt-to-equity ratio of 1.36.

Myers Industries (NYSE:MYE - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The industrial products company reported $0.25 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 during the quarter. During the same period in the prior year, the company posted $0.38 EPS. Research analysts anticipate that Myers Industries will post 0.95 earnings per share for the current fiscal year.

Myers Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 3rd will be given a dividend of $0.135 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.54 annualized dividend and a yield of 4.39%. Myers Industries's dividend payout ratio (DPR) is presently 128.57%.

About Myers Industries

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.