Yvette Dapremont Bright Purchases 1,000 Shares of Myers Industries, Inc. (NYSE:MYE) Stock

Myers Industries, Inc. (NYSE:MYE) Director Yvette Dapremont Bright acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was purchased at an average price of $11.60 per share, for a total transaction of $11,600.00. Following the transaction, the director now directly owns 20,961 shares of the company’s stock, valued at approximately $243,147.60. This trade represents a 5.01 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Myers Industries Price Performance

Shares of Myers Industries stock opened at $11.45 on Friday. The business has a 50 day moving average of $12.49 and a 200 day moving average of $13.83. Myers Industries, Inc. has a 52 week low of $10.35 and a 52 week high of $23.63. The company has a market cap of $426.63 million, a PE ratio of 27.26 and a beta of 1.23. The company has a quick ratio of 1.11, a current ratio of 1.80 and a debt-to-equity ratio of 1.36.

Myers Industries (NYSE:MYE) last announced its earnings results on Monday, November 4th. The industrial products company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.04). Myers Industries had a net margin of 1.88% and a return on equity of 14.75%. The company had revenue of $205.07 million for the quarter. During the same quarter last year, the firm earned $0.38 earnings per share. As a group, equities research analysts forecast that Myers Industries, Inc. will post 0.95 earnings per share for the current 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 paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date is Tuesday, December 3rd. Myers Industries’s payout ratio is presently 128.57%.

Institutional Investors Weigh In On Myers Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MYE. Victory Capital Management Inc. purchased a new stake in shares of Myers Industries in the 2nd quarter worth about $13,684,000. Hotchkis & Wiley Capital Management LLC grew its holdings in Myers Industries by 60.2% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 624,010 shares of the industrial products company’s stock worth $8,624,000 after purchasing an additional 234,390 shares during the period. Vanguard Group Inc. increased its stake in shares of Myers Industries by 6.8% during the first quarter. Vanguard Group Inc. now owns 2,846,620 shares of the industrial products company’s stock valued at $65,956,000 after purchasing an additional 182,215 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Myers Industries by 8.3% during the second quarter. Renaissance Technologies LLC now owns 1,480,597 shares of the industrial products company’s stock valued at $19,810,000 after purchasing an additional 113,100 shares during the last quarter. Finally, Hodges Capital Management Inc. lifted its holdings in shares of Myers Industries by 336.3% during 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 purchasing an additional 81,550 shares during the last quarter. 90.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, KeyCorp downgraded Myers Industries from an “overweight” rating to a “sector weight” rating in a report 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.