Insider Buying: Myers Industries, Inc. (NYSE:MYE) CEO Purchases 1,972 Shares of Stock

Myers Industries, Inc. (NYSE:MYE) CEO Aaron M. Schapper purchased 1,972 shares of the 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 directly owns 1,972 shares in the company, valued at $24,985.24. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Myers Industries Trading Down 1.6 %

Shares of NYSE:MYE traded down $0.21 during trading on Thursday, reaching $12.60. 365,108 shares of the stock were exchanged, compared to its average volume of 342,471. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.11 and a current ratio of 1.80. Myers Industries, Inc. has a 12-month low of $9.32 and a 12-month high of $23.63. The firm has a market cap of $469.29 million, a price-to-earnings ratio of 29.99 and a beta of 1.21. The firm’s 50-day moving average price is $11.66 and its 200 day moving average price is $12.30.

Myers Industries (NYSE:MYE) last issued its earnings results on Thursday, March 6th. The industrial products company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.09. Myers Industries had a return on equity of 14.75% and a net margin of 1.88%. The business had revenue of $203.88 million during the quarter, compared to analysts’ expectations of $203.10 million. On average, sell-side analysts anticipate that Myers Industries, Inc. will post 0.95 earnings per share for the current fiscal year.

Myers Industries announced that its Board of Directors has initiated a share buyback program on Thursday, March 6th that permits the company to buyback $10.00 million in shares. This buyback authorization permits the industrial products company to buy up to 2.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Myers Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date is Friday, March 14th. Myers Industries’s payout ratio is currently 284.21%.

Institutional Trading of Myers Industries

Institutional investors have recently modified their holdings of the company. Quantbot Technologies LP boosted its holdings in Myers Industries by 8.0% in the 3rd quarter. Quantbot Technologies LP now owns 11,427 shares of the industrial products company’s stock worth $158,000 after acquiring an additional 846 shares during the period. Foundry Partners LLC boosted its holdings in 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 worth approximately $28,000. Aquatic Capital Management LLC boosted its holdings in Myers Industries by 103.1% in the 4th quarter. Aquatic Capital Management LLC now owns 5,484 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 2,784 shares during the period. Finally, Sei Investments Co. boosted its holdings in Myers Industries by 3.8% in the 4th quarter. Sei Investments Co. now owns 76,288 shares of the industrial products company’s stock worth $842,000 after acquiring an additional 2,788 shares during the period. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Myers Industries from a “sell” rating to a “hold” rating in a report on Friday, March 7th.

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.