Myers Industries, Inc. (NYSE:MYE) Director Frederic Jack Liebau, Jr. bought 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 30th. The stock was purchased at an average cost of $19.28 per share, for a total transaction of $19,280.00. Following the completion of the transaction, the director now directly owns 28,957 shares in the company, valued at approximately $558,290.96. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Myers Industries traded up $0.35, hitting $19.95, during trading hours on Friday, according to MarketBeat. The company had a trading volume of 291,615 shares, compared to its average volume of 142,587. Myers Industries, Inc. has a fifty-two week low of $15.40 and a fifty-two week high of $24.60. The company has a market cap of $671.00 million, a P/E ratio of 39.12, a P/E/G ratio of 7.61 and a beta of 1.76. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 1.51.
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Myers Industries (NYSE:MYE) last announced its quarterly earnings results on Monday, May 7th. The industrial products company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.05. Myers Industries had a positive return on equity of 19.40% and a negative net margin of 1.06%. The firm had revenue of $152.60 million during the quarter, compared to the consensus estimate of $146.25 million. During the same period in the prior year, the firm earned $0.13 EPS. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. sell-side analysts forecast that Myers Industries, Inc. will post 0.85 EPS for the current fiscal year.
Several research analysts recently weighed in on the company. Zacks Investment Research lowered Myers Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, May 9th. ValuEngine lowered Myers Industries from a “buy” rating to a “hold” rating in a research report on Friday, May 18th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. Myers Industries currently has a consensus rating of “Hold” and a consensus target price of $21.67.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in Myers Industries by 2.3% in the 1st quarter. BlackRock Inc. now owns 2,921,021 shares of the industrial products company’s stock valued at $61,781,000 after purchasing an additional 64,391 shares in the last quarter. Teton Advisors Inc. grew its stake in shares of Myers Industries by 2.1% during the first quarter. Teton Advisors Inc. now owns 653,064 shares of the industrial products company’s stock valued at $13,812,000 after acquiring an additional 13,687 shares in the last quarter. Millennium Management LLC grew its stake in shares of Myers Industries by 119.7% during the fourth quarter. Millennium Management LLC now owns 423,455 shares of the industrial products company’s stock valued at $8,257,000 after acquiring an additional 230,680 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Myers Industries by 42.6% during the fourth quarter. Renaissance Technologies LLC now owns 384,600 shares of the industrial products company’s stock valued at $7,500,000 after acquiring an additional 114,800 shares in the last quarter. Finally, Loews Corp acquired a new stake in shares of Myers Industries during the fourth quarter valued at about $6,166,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.
About Myers Industries
Myers Industries, Inc manufactures and sells polymer products for industrial, agricultural, automotive, commercial, and consumer markets worldwide. The company's Material Handling segment provides plastic reusable material handling containers, pallets, small parts bins, bulk shipping containers, storage and organization products, and rotationally-molded plastic tanks for water, fuel, and waste handling applications; welded steel service carts, platform trucks, mobile work centers, racks, and cabinets; plastic trim and interior parts used in the production of seat components, consoles, and other applications in the recreational vehicle, marine, and industrial markets; and plastic fuel containers, portable marine fuel tanks and water containers, ammunition containers, and storage totes under the Buckhorn, Akro-Mils, Jamco Products, Ameri-Kart, and Scepter brands.