Myers Industries, Inc. (NYSE:MYE) Director Acquires $11,600.00 in Stock

Myers Industries, Inc. (NYSE:MYE) Director Yvette Dapremont Bright purchased 1,000 shares of the stock in a transaction dated Wednesday, November 27th. The stock was bought at an average cost of $11.60 per share, with a total value of $11,600.00. Following the transaction, the director now owns 20,961 shares in the company, valued at $243,147.60. The trade was a 5.01 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Myers Industries Price Performance

Shares of NYSE MYE opened at $11.45 on Friday. The company has a 50 day moving average of $12.49 and a 200 day moving average of $13.83. 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, Inc. has a twelve month low of $10.35 and a twelve month high of $23.63. The firm has a market cap of $426.63 million, a P/E ratio of 27.26 and a beta of 1.23.

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

Myers Industries Announces Dividend

The business also recently declared 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. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date is Tuesday, December 3rd. Myers Industries’s payout ratio is presently 128.57%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MYE. nVerses Capital LLC purchased a new stake in Myers Industries in the second quarter worth approximately $25,000. Point72 DIFC Ltd bought a new position in shares of Myers Industries during the 3rd quarter valued at $28,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Myers Industries in the 1st quarter worth $91,000. Point72 Asset Management L.P. bought a new stake in shares of Myers Industries in the third quarter worth $72,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Myers Industries during the third quarter valued at $85,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.