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

Myers Industries, Inc. (NYSE:MYE) CEO Aaron M. Schapper acquired 1,972 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was acquired at an average price of $12.67 per share, with a total value of $24,985.24. Following the acquisition, the chief executive officer now owns 1,972 shares in the company, valued at $24,985.24. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Myers Industries Trading Down 1.6 %

NYSE MYE opened at $12.60 on Friday. Myers Industries, Inc. has a 52 week low of $9.32 and a 52 week high of $23.63. The firm has a 50 day moving average of $11.66 and a two-hundred day moving average of $12.30. 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 stock has a market capitalization of $469.29 million, a PE ratio of 29.99 and a beta of 1.21.

Myers Industries (NYSE:MYE) last issued its quarterly earnings data on Thursday, March 6th. The industrial products company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.09. Myers Industries had a net margin of 1.88% and a return on equity of 14.75%. The business had revenue of $203.88 million during the quarter, compared to the consensus estimate of $203.10 million. As a group, research analysts expect that Myers Industries, Inc. will post 0.95 EPS for the current fiscal year.

Myers Industries announced that its Board of Directors has approved a share buyback plan on Thursday, March 6th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the industrial products company to reacquire up to 2.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Myers Industries Dividend Announcement

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Myers Industries from a “sell” rating to a “hold” rating in a research note 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. Quantbot Technologies LP increased its holdings in Myers Industries by 8.0% in the third quarter. Quantbot Technologies LP now owns 11,427 shares of the industrial products company’s stock valued at $158,000 after buying an additional 846 shares in the last quarter. Foundry Partners LLC grew 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 worth $1,762,000 after acquiring an additional 1,220 shares during the period. Point72 DIFC Ltd purchased a new position in Myers Industries in the 3rd quarter valued at approximately $28,000. Aquatic Capital Management LLC raised its holdings in Myers Industries by 103.1% during the fourth quarter. Aquatic Capital Management LLC now owns 5,484 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 2,784 shares during the last quarter. Finally, Sei Investments Co. boosted its position in Myers Industries by 3.8% during the fourth quarter. Sei Investments Co. now owns 76,288 shares of the industrial products company’s stock worth $842,000 after purchasing an additional 2,788 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

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.