Insider Buying: Myers Industries, Inc. (NYSE:MYE) Director Buys $12,030.00 in Stock

Myers Industries, Inc. (NYSE:MYE) Director William A. Foley bought 1,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were purchased at an average cost of $12.03 per share, with a total value of $12,030.00. Following the acquisition, the director now directly owns 47,431 shares of the company’s stock, valued at approximately $570,594.93. This represents a 2.15 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Myers Industries Price Performance

Shares of NYSE MYE opened at $11.96 on Friday. The business has a fifty day moving average price of $12.22 and a two-hundred day moving average price of $13.65. The stock has a market capitalization of $445.63 million, a PE ratio of 28.48 and a beta of 1.22. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.80 and a quick ratio of 1.11. 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 announced its quarterly earnings data 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 firm had revenue of $205.07 million for the quarter. During the same quarter last year, the firm earned $0.38 EPS. As a group, equities analysts predict that Myers Industries, Inc. will post 0.95 earnings per share for the current fiscal year.

Myers Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 4.52%. The ex-dividend date of this dividend is Tuesday, December 3rd. Myers Industries’s payout ratio is presently 128.57%.

Analyst Upgrades and Downgrades

Separately, KeyCorp downgraded shares of 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 modified their holdings of the business. Vanguard Group Inc. boosted its position in Myers Industries by 6.8% in 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 buying an additional 182,215 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Myers Industries during the 3rd quarter valued at $246,000. Victory Capital Management Inc. acquired a new stake in shares of Myers Industries during the 2nd quarter valued at $13,684,000. Intech Investment Management LLC bought a new stake in Myers Industries during the 3rd quarter worth $972,000. Finally, American Century Companies Inc. increased its holdings in Myers Industries by 12.3% in the 2nd quarter. American Century Companies Inc. now owns 556,131 shares of the industrial products company’s stock worth $7,441,000 after purchasing an additional 60,935 shares in the last quarter. Institutional investors 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.