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

Myers Industries, Inc. (NYSE:MYE) CEO Dave Basque bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The shares were bought at an average cost of $12.13 per share, for a total transaction of $60,650.00. Following the completion of the acquisition, the chief executive officer now owns 34,152 shares of the company’s stock, valued at $414,263.76. This trade represents a 17.15 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

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

Myers Industries Stock Down 0.4 %

Shares of MYE opened at $12.08 on Wednesday. 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 12 month low of $10.35 and a 12 month high of $23.63. The stock’s 50 day moving average is $12.12 and its two-hundred day moving average is $13.55. The firm has a market cap of $450.10 million, a P/E ratio of 28.76 and a beta of 1.22.

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

Myers Industries Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Myers Industries

Several hedge funds and other institutional investors have recently made changes to their positions in MYE. Cetera Advisors LLC purchased a new position in shares of Myers Industries in the first quarter valued at approximately $462,000. Panagora Asset Management Inc. lifted its position in shares of Myers Industries by 54.0% in the second quarter. Panagora Asset Management Inc. now owns 188,566 shares of the industrial products company’s stock valued at $2,523,000 after acquiring an additional 66,084 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Myers Industries in the second quarter valued at approximately $25,000. Hodges Capital Management Inc. lifted its position in shares of Myers Industries by 336.3% in the second quarter. Hodges Capital Management Inc. now owns 105,800 shares of the industrial products company’s stock valued at $1,416,000 after acquiring an additional 81,550 shares in the last quarter. Finally, Victory Capital Management Inc. purchased a new position in shares of Myers Industries in the second quarter valued at approximately $13,684,000. Hedge funds and other 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.