Myers Industries, Inc. (NYSE:MYE) CEO Buys $24,985.24 in Stock

Myers Industries, Inc. (NYSE:MYE) CEO Aaron M. Schapper purchased 1,972 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were purchased at an average cost of $12.67 per share, for a total transaction of $24,985.24. Following the transaction, the chief executive officer now directly owns 1,972 shares in the company, valued at approximately $24,985.24. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Myers Industries Price Performance

Shares of MYE stock opened at $12.76 on Friday. Myers Industries, Inc. has a 1-year low of $9.32 and a 1-year high of $23.63. The stock’s 50-day moving average is $11.73 and its 200 day moving average is $12.26. The company has a market cap of $475.71 million, a P/E ratio of 30.37 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 (NYSE:MYE) last issued its quarterly earnings data on Thursday, March 6th. The industrial products company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.09. Myers Industries had a return on equity of 14.75% and a net margin of 1.88%. The company had revenue of $203.88 million for the quarter, compared to the consensus estimate of $203.10 million. Research analysts predict that Myers Industries, Inc. will post 0.95 earnings per share for the current fiscal year.

Myers Industries announced that its Board of Directors has authorized a share repurchase plan on Thursday, March 6th that authorizes the company to buyback $10.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 2.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Myers Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend is Friday, March 14th. Myers Industries’s payout ratio is currently 284.21%.

Institutional Investors Weigh In On Myers Industries

Institutional investors have recently added to or reduced their stakes in the stock. Gamco Investors INC. ET AL raised its stake in Myers Industries by 2.9% in the fourth quarter. Gamco Investors INC. ET AL now owns 3,383,485 shares of the industrial products company’s stock valued at $37,354,000 after buying an additional 96,400 shares during the last quarter. Renaissance Technologies LLC raised its stake in Myers Industries by 11.8% in the fourth quarter. Renaissance Technologies LLC now owns 1,586,991 shares of the industrial products company’s stock valued at $17,520,000 after buying an additional 167,894 shares during the last quarter. Gabelli Funds LLC raised its stake in Myers Industries by 0.5% in the fourth quarter. Gabelli Funds LLC now owns 1,563,150 shares of the industrial products company’s stock valued at $17,257,000 after buying an additional 8,000 shares during the last quarter. State Street Corp raised its stake in Myers Industries by 2.6% in the third quarter. State Street Corp now owns 1,374,246 shares of the industrial products company’s stock valued at $19,176,000 after buying an additional 35,456 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in Myers Industries by 1.1% in the third quarter. Victory Capital Management Inc. now owns 1,034,125 shares of the industrial products company’s stock valued at $14,292,000 after buying an additional 11,434 shares during the last quarter. Institutional investors own 90.82% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised Myers Industries from a “sell” rating to a “hold” rating in a research report on Friday, March 7th.

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.