Myers Industries (NYSE:MYE) Director Helmuth Ludwig Acquires 5,000 Shares

Myers Industries, Inc. (NYSE:MYE) Director Helmuth Ludwig acquired 5,000 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was acquired at an average cost of $17.21 per share, for a total transaction of $86,050.00. Following the transaction, the director directly owned 13,436 shares in the company, valued at $231,233.56. The trade was a 59.27% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Myers Industries Trading Up 4.5%

Myers Industries stock traded up $0.77 during mid-day trading on Monday, hitting $18.10. The company’s stock had a trading volume of 570,496 shares, compared to its average volume of 276,757. Myers Industries, Inc. has a one year low of $9.06 and a one year high of $18.29. The stock has a market cap of $677.20 million, a PE ratio of 69.62 and a beta of 1.15. The company has a 50 day moving average of $16.59 and a 200-day moving average of $14.80. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.12 and a current ratio of 1.77.

Myers Industries (NYSE:MYE) last issued its quarterly earnings data on Thursday, October 30th. The industrial products company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01. The firm had revenue of $205.44 million during the quarter, compared to analysts’ expectations of $206.40 million. Myers Industries had a return on equity of 13.02% and a net margin of 1.20%. On average, research analysts anticipate that Myers Industries, Inc. will post 0.95 EPS for the current year.

Myers Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Wednesday, December 3rd will be paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Wednesday, December 3rd. Myers Industries’s dividend payout ratio is 72.97%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MYE shares. Wall Street Zen cut Myers Industries from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Zacks Research lowered Myers Industries from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 23rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Myers Industries in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $21.00.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MYE. AlphaQuest LLC grew its holdings in Myers Industries by 45.5% during the third quarter. AlphaQuest LLC now owns 54,144 shares of the industrial products company’s stock worth $917,000 after acquiring an additional 16,920 shares during the period. SummerHaven Investment Management LLC acquired a new stake in Myers Industries during the third quarter worth about $931,000. Strs Ohio acquired a new stake in Myers Industries during the third quarter worth about $154,000. Covestor Ltd grew its holdings in Myers Industries by 310,800.0% during the third quarter. Covestor Ltd now owns 18,654 shares of the industrial products company’s stock worth $316,000 after acquiring an additional 18,648 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Myers Industries by 5.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 14,871 shares of the industrial products company’s stock worth $248,000 after acquiring an additional 708 shares during the period. 90.82% of the stock is owned by institutional investors and hedge funds.

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.