Inspire Investing LLC Purchases 6,153 Shares of Myers Industries, Inc. (NYSE:MYE)

Inspire Investing LLC grew its holdings in shares of Myers Industries, Inc. (NYSE:MYE) by 20.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,291 shares of the industrial products company’s stock after acquiring an additional 6,153 shares during the period. Inspire Investing LLC owned 0.10% of Myers Industries worth $401,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Point72 DIFC Ltd acquired a new stake in Myers Industries during the third quarter worth approximately $28,000. nVerses Capital LLC grew its position in shares of Myers Industries by 57.9% during the 3rd quarter. nVerses Capital LLC now owns 3,000 shares of the industrial products company’s stock worth $41,000 after buying an additional 1,100 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Myers Industries in the 3rd quarter valued at $72,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Myers Industries during the 3rd quarter valued at $85,000. Finally, Quest Partners LLC bought a new position in Myers Industries during the third quarter worth $150,000. 90.82% of the stock is owned by institutional investors.

Insider Transactions at Myers Industries

In other news, CEO Dave Basque acquired 5,000 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were purchased at an average cost of $12.13 per share, with a total value of $60,650.00. Following the acquisition, the chief executive officer now directly owns 34,152 shares of the company’s stock, valued at $414,263.76. The trade was a 17.15 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased a total of 19,500 shares of company stock valued at $232,575 over the last ninety days. 1.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. StockNews.com lowered shares of Myers Industries from a “hold” rating to a “sell” rating in a report on Friday, January 17th. KeyCorp downgraded Myers Industries from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, November 6th.

Myers Industries Stock Performance

Shares of MYE stock opened at $12.21 on Monday. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 1.36. The firm has a fifty day simple moving average of $11.51 and a two-hundred day simple moving average of $12.87. Myers Industries, Inc. has a 12 month low of $10.35 and a 12 month high of $23.63. The firm has a market capitalization of $454.76 million, a PE ratio of 29.06 and a beta of 1.22.

Myers Industries (NYSE:MYE) last posted its earnings results on Monday, November 4th. The industrial products company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.04). Myers Industries had a return on equity of 14.75% and a net margin of 1.88%. The business had revenue of $205.07 million for the quarter. During the same period in the previous year, the firm posted $0.38 earnings per share. Analysts forecast that Myers Industries, Inc. will post 0.95 EPS for the current fiscal year.

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.