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

Myers Industries, Inc. (NYSE:MYE) Director Lori A. Lutey bought 1,000 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was acquired at an average cost of $12.15 per share, with a total value of $12,150.00. Following the completion of the transaction, the director now directly owns 12,500 shares of the company’s stock, valued at approximately $151,875. This represents a 8.70 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Myers Industries Trading Down 0.9 %

Shares of MYE traded down $0.11 during trading hours on Friday, hitting $11.85. 385,955 shares of the stock traded hands, compared to its average volume of 304,880. The firm has a market capitalization of $441.53 million, a PE ratio of 28.36 and a beta of 1.22. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 1.36. Myers Industries, Inc. has a 1-year low of $10.35 and a 1-year high of $23.63. The business has a fifty day moving average of $12.22 and a 200-day moving average of $13.65.

Myers Industries (NYSE:MYE) last issued its earnings results on Monday, November 4th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.04). The company had revenue of $205.07 million for the quarter. Myers Industries had a return on equity of 14.75% and a net margin of 1.88%. During the same quarter in the prior year, the business posted $0.38 EPS. Analysts expect that Myers Industries, Inc. will post 0.95 EPS for the current year.

Myers Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 4.56%. The ex-dividend date is Tuesday, December 3rd. Myers Industries’s dividend payout ratio is 128.57%.

Analyst Ratings Changes

Separately, KeyCorp downgraded Myers Industries from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, November 6th.

Institutional Trading of Myers Industries

Institutional investors have recently modified their holdings of the company. Quantbot Technologies LP lifted its position in shares of Myers Industries by 8.0% in the third quarter. Quantbot Technologies LP now owns 11,427 shares of the industrial products company’s stock worth $158,000 after purchasing an additional 846 shares in the last quarter. nVerses Capital LLC grew its holdings 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 purchasing an additional 1,100 shares during the period. Foundry Partners LLC grew its stake in Myers Industries by 1.0% in the 3rd quarter. Foundry Partners LLC now owns 127,508 shares of the industrial products company’s stock valued at $1,762,000 after buying an additional 1,220 shares during the last quarter. The Manufacturers Life Insurance Company grew its position 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 last quarter. Finally, Point72 DIFC Ltd bought a new position in shares of Myers Industries during the third quarter worth approximately $28,000. 90.82% of the stock is currently owned by institutional investors.

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.