Myers Industries, Inc. (NYSE:MYE) Director Ronald M. Defeo Purchases 10,000 Shares

Myers Industries, Inc. (NYSE:MYE) Director Ronald M. Defeo purchased 10,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was bought at an average cost of $16.25 per share, for a total transaction of $162,500.00. Following the acquisition, the director now directly owns 11,570 shares in the company, valued at approximately $188,012.50. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

MYE stock traded up $0.03 during midday trading on Wednesday, reaching $16.21. 1,362 shares of the company’s stock traded hands, compared to its average volume of 90,063. The company has a 50-day moving average price of $16.56 and a two-hundred day moving average price of $17.26. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.61 and a current ratio of 2.10. Myers Industries, Inc. has a 52 week low of $14.24 and a 52 week high of $19.55. The firm has a market capitalization of $566.54 million, a PE ratio of 21.29 and a beta of 1.60.

Myers Industries (NYSE:MYE) last issued its earnings results on Tuesday, November 5th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Myers Industries had a net margin of 3.90% and a return on equity of 17.53%. The business had revenue of $125.48 million for the quarter, compared to analysts’ expectations of $134.90 million. During the same quarter in the previous year, the firm posted $0.15 EPS. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. As a group, analysts predict that Myers Industries, Inc. will post 0.77 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be issued a $0.135 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.54 annualized dividend and a dividend yield of 3.33%. Myers Industries’s payout ratio is currently 71.05%.

A number of research firms recently commented on MYE. ValuEngine raised shares of Myers Industries from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Cowen raised shares of Myers Industries from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $20.00 to $22.00 in a report on Tuesday, August 27th. Finally, Zacks Investment Research cut shares of Myers Industries from a “hold” rating to a “sell” rating in a report on Friday, October 18th.

Several institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC bought a new position in shares of Myers Industries in the third quarter worth $42,000. SG Americas Securities LLC bought a new position in shares of Myers Industries in the third quarter worth $110,000. First Trust Advisors LP increased its holdings in shares of Myers Industries by 25.4% in the third quarter. First Trust Advisors LP now owns 80,520 shares of the industrial products company’s stock worth $1,421,000 after purchasing an additional 16,309 shares during the period. Russell Investments Group Ltd. bought a new position in shares of Myers Industries in the third quarter worth $205,000. Finally, California Public Employees Retirement System increased its holdings in shares of Myers Industries by 21.8% in the third quarter. California Public Employees Retirement System now owns 34,545 shares of the industrial products company’s stock worth $610,000 after purchasing an additional 6,178 shares during the period. 85.30% of the stock is currently owned by hedge funds and other institutional investors.

Myers Industries Company Profile

Myers Industries, Inc manufactures and sells polymer products for industrial, agricultural, automotive, commercial, and consumer markets worldwide. The company's Material Handling segment provides plastic reusable material handling containers, pallets, small parts bins, bulk shipping containers, storage and organization products, and rotationally-molded plastic tanks for water, fuel, and waste handling applications; welded steel service carts, platform trucks, mobile work centers, racks, and cabinets; plastic trim and interior parts used in the production of seat components, consoles, and other applications in the recreational vehicle, marine, and industrial markets; and plastic fuel containers, portable marine fuel tanks and water containers, ammunition containers, and storage totes under the Buckhorn, Akro-Mils, Jamco Products, Ameri-Kart, and Scepter brands.

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