Dave Basque Buys 5,000 Shares of Myers Industries, Inc. (NYSE:MYE) Stock

Myers Industries, Inc. (NYSE:MYE) CEO Dave Basque bought 5,000 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were acquired at an average cost of $12.41 per share, for a total transaction of $62,050.00. Following the purchase, the chief executive officer now owns 39,152 shares of the company’s stock, valued at approximately $485,876.32. The trade was a 14.64 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, December 5th, Dave Basque purchased 5,000 shares of Myers Industries stock. The shares were acquired at an average cost of $12.13 per share, with a total value of $60,650.00.
• On Tuesday, December 3rd, Dave Basque acquired 5,000 shares of Myers Industries stock. The stock was acquired at an average cost of $11.33 per share, for a total transaction of $56,650.00.

Myers Industries Trading Down 0.4 %

MYE stock traded down $0.05 during mid-day trading on Tuesday, reaching $12.08. The company had a trading volume of 531,914 shares, compared to its average volume of 306,346. The company has a market capitalization of $450.10 million, a PE ratio of 28.55 and a beta of 1.22. The firm has a 50 day moving average of $12.14 and a 200 day moving average of $13.57. Myers Industries, Inc. has a 12 month low of $10.35 and a 12 month high of $23.63. 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 (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 the consensus estimate of $0.29 by ($0.04). The firm had revenue of $205.07 million during the quarter. Myers Industries had a return on equity of 14.75% and a net margin of 1.88%. During the same quarter in the prior year, the business posted $0.38 earnings per share. On average, equities analysts predict that Myers Industries, Inc. will post 0.95 earnings per share for the current fiscal year.

Myers Industries Announces Dividend

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 issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend is Tuesday, December 3rd. Myers Industries’s payout ratio is 128.57%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Myers Industries

Hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its position in shares of Myers Industries by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,604,324 shares of the industrial products company’s stock valued at $21,466,000 after buying an additional 4,777 shares during the last quarter. Gabelli Funds LLC grew its position in Myers Industries by 3.9% during the 2nd quarter. Gabelli Funds LLC now owns 1,572,250 shares of the industrial products company’s stock worth $21,037,000 after purchasing an additional 58,500 shares during the last quarter. Renaissance Technologies LLC increased its stake in Myers Industries by 8.3% during the 2nd 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 in the last quarter. State Street Corp raised its holdings in shares of Myers Industries by 2.6% in the third quarter. State Street Corp now owns 1,374,246 shares of the industrial products company’s stock worth $19,176,000 after buying an additional 35,456 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in Myers Industries by 1.1% during the 3rd quarter. Victory Capital Management Inc. now owns 1,034,125 shares of the industrial products company’s stock valued at $14,292,000 after purchasing an additional 11,434 shares during the last quarter. 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.