Myers Industries, Inc. (NYSE:MYE) CEO Aaron M. Schapper Buys 1,972 Shares

Myers Industries, Inc. (NYSE:MYE) CEO Aaron M. Schapper bought 1,972 shares of the stock in a transaction dated Thursday, March 13th. The shares were acquired at an average price of $12.67 per share, for a total transaction of $24,985.24. Following the completion of the transaction, the chief executive officer now owns 1,972 shares of the company’s stock, valued at approximately $24,985.24. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Myers Industries Stock Performance

NYSE:MYE traded down $0.21 during midday trading on Thursday, reaching $12.60. The stock had a trading volume of 365,108 shares, compared to its average volume of 342,471. Myers Industries, Inc. has a 12-month low of $9.32 and a 12-month high of $23.63. The company has a quick ratio of 1.11, a current ratio of 1.80 and a debt-to-equity ratio of 1.36. The firm has a fifty day simple moving average of $11.66 and a two-hundred day simple moving average of $12.30. The stock has a market cap of $469.29 million, a P/E ratio of 29.99 and a beta of 1.21.

Myers Industries (NYSE:MYE) last released its earnings results on Thursday, March 6th. The industrial products company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.09. Myers Industries had a return on equity of 14.75% and a net margin of 1.88%. The company had revenue of $203.88 million during the quarter, compared to the consensus estimate of $203.10 million. On average, equities analysts expect that Myers Industries, Inc. will post 0.95 EPS for the current year.

Myers Industries announced that its board has approved a share repurchase plan on Thursday, March 6th that allows the company to repurchase $10.00 million in shares. This repurchase authorization allows the industrial products company to buy up to 2.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Myers Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date is Friday, March 14th. Myers Industries’s dividend payout ratio (DPR) is currently 284.21%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Myers Industries from a “sell” rating to a “hold” rating in a research report on Friday, March 7th.

Institutional Investors Weigh In On Myers Industries

Hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 DIFC Ltd acquired a new stake in Myers Industries in the third quarter valued at $28,000. Point72 Asset Management L.P. acquired a new position in shares of Myers Industries during the 3rd quarter worth $72,000. Aquatic Capital Management LLC raised its stake in shares of Myers Industries by 103.1% during the 4th quarter. Aquatic Capital Management LLC now owns 5,484 shares of the industrial products company’s stock worth $61,000 after buying an additional 2,784 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Myers Industries during the 3rd quarter worth $85,000. Finally, ProShare Advisors LLC acquired a new position in shares of Myers Industries during the 4th quarter worth $114,000. Institutional investors and hedge funds 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.