Myers Industries (NYSE:MYE) Director Acquires $86,050.00 in Stock

Myers Industries, Inc. (NYSE:MYE) Director Helmuth Ludwig purchased 5,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were bought at an average price of $17.21 per share, for a total transaction of $86,050.00. Following the completion of the transaction, the director owned 13,436 shares of the company’s stock, valued at approximately $231,233.56. This trade represents a 59.27% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Myers Industries Price Performance

Shares of MYE traded up $0.77 during midday trading on Monday, hitting $18.10. 570,496 shares of the company traded hands, compared to its average volume of 276,757. The stock has a 50-day moving average of $16.59 and a 200-day moving average of $14.80. Myers Industries, Inc. has a one year low of $9.06 and a one year high of $18.29. The firm has a market cap of $677.20 million, a P/E ratio of 69.62 and a beta of 1.15. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.77 and a quick ratio of 1.12.

Myers Industries (NYSE:MYE) last posted its quarterly earnings data on Thursday, October 30th. The industrial products company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.01. The company had revenue of $205.44 million for the quarter, compared to analysts’ expectations of $206.40 million. Myers Industries had a net margin of 1.20% and a return on equity of 13.02%. As a group, sell-side analysts predict that Myers Industries, Inc. will post 0.95 EPS for the current fiscal year.

Myers Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Wednesday, December 3rd will be given a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Wednesday, December 3rd. Myers Industries’s dividend payout ratio is 72.97%.

Institutional Trading of Myers Industries

A number of institutional investors have recently made changes to their positions in MYE. GAMMA Investing LLC boosted its position in shares of Myers Industries by 586.6% during the first quarter. GAMMA Investing LLC now owns 2,609 shares of the industrial products company’s stock valued at $31,000 after buying an additional 2,229 shares during the last quarter. Teacher Retirement System of Texas lifted its position in shares of Myers Industries by 102.2% during the 1st quarter. Teacher Retirement System of Texas now owns 98,877 shares of the industrial products company’s stock valued at $1,180,000 after buying an additional 49,979 shares in the last quarter. CWM LLC lifted its position in shares of Myers Industries by 829.7% during the 1st quarter. CWM LLC now owns 4,695 shares of the industrial products company’s stock valued at $56,000 after buying an additional 4,190 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its position in shares of Myers Industries by 19.6% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 39,621 shares of the industrial products company’s stock valued at $473,000 after buying an additional 6,502 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Myers Industries during the 1st quarter valued at about $1,134,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on MYE. Weiss Ratings restated a “hold (c)” rating on shares of Myers Industries in a research report on Wednesday, October 8th. Zacks Research lowered Myers Industries from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 23rd. Finally, Wall Street Zen lowered Myers Industries from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Myers Industries currently has a consensus rating of “Hold” and an average price target of $21.00.

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.