Myers Industries, Inc. (NYSE:MYE) Short Interest Down 16.8% in November

Myers Industries, Inc. (NYSE:MYE) saw a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 931,800 shares, a decline 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.

Myers Industries Stock Up 2.9 %

Shares of NYSE:MYE opened at $12.30 on Friday. Myers Industries has a 1 year low of $10.35 and a 1 year 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 business’s 50-day moving average is $12.09 and its 200-day moving average is $13.51. The company has a market capitalization of $458.30 million, a price-to-earnings ratio of 29.29 and a beta of 1.22.

Myers Industries (NYSE:MYE) last posted its quarterly 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 business 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 last year, the firm earned $0.38 EPS. Equities research analysts predict that Myers Industries will post 0.95 earnings per share for the current year.

Myers Industries Dividend Announcement

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 issued a dividend of $0.135 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $0.54 annualized dividend and a dividend yield of 4.39%. Myers Industries’s dividend payout ratio is currently 128.57%.

Analyst Upgrades and Downgrades

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

Insider Transactions at Myers Industries

In related news, CEO Dave Basque acquired 5,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was bought at an average cost of $11.33 per share, for a total transaction of $56,650.00. Following the completion of the transaction, the chief executive officer now directly owns 29,152 shares of the company’s stock, valued at $330,292.16. The trade was a 20.70 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders have acquired 19,500 shares of company stock worth $232,575. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Myers Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Quantbot Technologies LP increased its position in Myers Industries by 8.0% in the 3rd quarter. Quantbot Technologies LP now owns 11,427 shares of the industrial products company’s stock valued at $158,000 after buying an additional 846 shares in the last quarter. nVerses Capital LLC raised its position in shares of 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 lifted its holdings in shares of Myers Industries by 1.0% in the 3rd quarter. Foundry Partners LLC now owns 127,508 shares of the industrial products company’s stock worth $1,762,000 after purchasing an additional 1,220 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Myers Industries by 10.0% in the 2nd 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 period. Finally, Point72 DIFC Ltd bought a new stake in Myers Industries during the 3rd quarter valued at $28,000. Institutional investors own 90.82% of the company’s stock.

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.