Myers Industries, Inc. (NYSE:MYE) CEO Buys $60,650.00 in Stock

Myers Industries, Inc. (NYSE:MYE) CEO Dave Basque purchased 5,000 shares of the stock in a transaction on Thursday, December 5th. The stock was acquired at an average price of $12.13 per share, with a total value of $60,650.00. Following the acquisition, the chief executive officer now directly owns 34,152 shares in the company, valued at $414,263.76. This trade represents a 17.15 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Dave Basque also recently made the following trade(s):

• On Monday, December 9th, Dave Basque bought 5,000 shares of Myers Industries stock. The stock was bought at an average cost of $12.41 per share, for a total transaction of $62,050.00.
• On Tuesday, December 3rd, Dave Basque purchased 5,000 shares of Myers Industries stock. The shares were bought at an average cost of $11.33 per share, with a total value of $56,650.00.

Myers Industries Trading Down 0.4 %

NYSE:MYE traded down $0.05 on Tuesday, hitting $12.08. 531,914 shares of the stock were exchanged, compared to its average volume of 306,346. The stock has a fifty day moving average of $12.14 and a 200-day moving average of $13.57. The stock has a market cap of $450.10 million, a PE ratio of 28.76 and a beta of 1.22. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 1.36. Myers Industries, Inc. has a fifty-two week low of $10.35 and a fifty-two week high of $23.63.

Myers Industries (NYSE:MYE) last posted its 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). 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 for the quarter. During the same period in the previous year, the business posted $0.38 earnings per share. As a group, equities analysts expect that Myers Industries, Inc. will post 0.95 earnings per share for the current fiscal year.

Myers Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 3rd will be paid a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend is Tuesday, December 3rd. Myers Industries’s dividend payout ratio (DPR) is 128.57%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Quantbot Technologies LP raised its position in shares of 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 purchasing an additional 846 shares in the last quarter. nVerses Capital LLC lifted its position in shares of Myers Industries by 57.9% in the 3rd quarter. nVerses Capital LLC now owns 3,000 shares of the industrial products company’s stock worth $41,000 after buying an additional 1,100 shares during the last quarter. Foundry Partners LLC boosted 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 valued at $1,762,000 after buying an additional 1,220 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Myers Industries by 10.0% during 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 buying an additional 1,357 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in Myers Industries during the third quarter worth about $28,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Wall Street Analyst Weigh In

Separately, KeyCorp cut 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.