Myers Industries, Inc. (NYSE:MYE) Director Jane Scaccetti acquired 1,500 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The shares were purchased at an average price of $21.50 per share, with a total value of $32,250.00. Following the acquisition, the director now owns 13,590 shares of the company’s stock, valued at $292,185. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of Myers Industries, Inc. (NYSE MYE) traded down $0.15 during trading on Wednesday, reaching $21.70. The company had a trading volume of 55,596 shares, compared to its average volume of 74,964. Myers Industries, Inc. has a 1-year low of $13.65 and a 1-year high of $22.65. The company has a market capitalization of $654.42, a P/E ratio of -70.00, a P/E/G ratio of 8.43 and a beta of 1.86. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.52 and a quick ratio of 1.04.
Myers Industries (NYSE:MYE) last announced its quarterly earnings results on Tuesday, March 6th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.09. Myers Industries had a positive return on equity of 15.86% and a negative net margin of 1.74%. The business had revenue of $140.10 million during the quarter, compared to the consensus estimate of $140.70 million. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. sell-side analysts anticipate that Myers Industries, Inc. will post 0.85 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Tuesday, March 20th will be issued a dividend of $0.135 per share. The ex-dividend date of this dividend is Monday, March 19th. This represents a $0.54 annualized dividend and a yield of 2.49%. Myers Industries’s dividend payout ratio (DPR) is currently -174.19%.
A number of institutional investors have recently made changes to their positions in the stock. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its holdings in Myers Industries by 42.7% during the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 58,800 shares of the industrial products company’s stock worth $1,147,000 after buying an additional 17,600 shares in the last quarter. MetLife Investment Advisors LLC bought a new stake in Myers Industries during the fourth quarter worth $208,000. Millennium Management LLC grew its holdings in Myers Industries by 119.7% during the fourth quarter. Millennium Management LLC now owns 423,455 shares of the industrial products company’s stock worth $8,257,000 after buying an additional 230,680 shares in the last quarter. Teachers Advisors LLC grew its holdings in Myers Industries by 8.4% during the fourth quarter. Teachers Advisors LLC now owns 44,372 shares of the industrial products company’s stock worth $865,000 after buying an additional 3,427 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Myers Industries by 70.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 123,507 shares of the industrial products company’s stock worth $2,409,000 after buying an additional 50,838 shares in the last quarter. Institutional investors and hedge funds own 87.33% of the company’s stock.
MYE has been the subject of several recent research reports. Zacks Investment Research upgraded Myers Industries from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Wednesday, November 29th. Wells Fargo & Co upgraded Myers Industries from a “market perform” rating to an “outperform” rating and set a $24.00 price objective for the company in a report on Wednesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $20.67.
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Myers Industries Company Profile
Myers Industries, Inc is an international manufacturing and distribution company. The Company operates through two segments: Material Handling and Distribution. As of December 31, 2016, the Company operated 15 manufacturing facilities, 20 sales offices, four distribution centers and three distribution branches located throughout North, Central and South America.
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