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

Myers Industries, Inc. (NYSE:MYE) CEO Dave Basque purchased 5,000 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was purchased at an average price of $12.13 per share, for a total transaction of $60,650.00. Following the acquisition, the chief executive officer now owns 34,152 shares in the company, valued at approximately $414,263.76. This trade represents a 17.15 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Monday, December 9th, Dave Basque bought 5,000 shares of Myers Industries stock. The shares were purchased at an average price of $12.41 per share, for a total transaction of $62,050.00.
• On Tuesday, December 3rd, Dave Basque bought 5,000 shares of Myers Industries stock. The stock was purchased at an average cost of $11.33 per share, for a total transaction of $56,650.00.

Myers Industries Price Performance

Shares of MYE stock traded down $0.05 during trading hours on Tuesday, hitting $12.08. The company’s stock had a trading volume of 531,914 shares, compared to its average volume of 306,346. 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 business has a fifty day moving average of $12.14 and a 200-day moving average of $13.57. Myers Industries, Inc. has a twelve month low of $10.35 and a twelve month high of $23.63. The stock has a market cap of $450.10 million, a price-to-earnings ratio of 28.76 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.04). The company had revenue of $205.07 million during the quarter. Myers Industries had a net margin of 1.88% and a return on equity of 14.75%. During the same quarter in the prior year, the firm posted $0.38 earnings per share. As a group, equities 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 Friday, January 3rd. Investors of record on Tuesday, December 3rd will be given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date of this dividend is Tuesday, December 3rd. Myers Industries’s dividend payout ratio is presently 128.57%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MYE. Cetera Advisors LLC purchased a new stake in shares of Myers Industries during the first quarter worth about $462,000. Panagora Asset Management Inc. boosted its position in Myers Industries by 54.0% during the second quarter. Panagora Asset Management Inc. now owns 188,566 shares of the industrial products company’s stock worth $2,523,000 after acquiring an additional 66,084 shares during the last quarter. nVerses Capital LLC purchased a new stake in Myers Industries in the 2nd quarter worth approximately $25,000. Hodges Capital Management Inc. raised its holdings in Myers Industries by 336.3% in the 2nd quarter. Hodges Capital Management Inc. now owns 105,800 shares of the industrial products company’s stock valued at $1,416,000 after acquiring an additional 81,550 shares during the last quarter. Finally, Victory Capital Management Inc. purchased a new position in shares of Myers Industries during the 2nd quarter worth $13,684,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.