Aaron M. Schapper Acquires 1,972 Shares of Myers Industries, Inc. (NYSE:MYE) Stock

Myers Industries, Inc. (NYSE:MYE) CEO Aaron M. Schapper bought 1,972 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were acquired at an average cost of $12.67 per share, for a total transaction of $24,985.24. Following the completion of the acquisition, the chief executive officer now directly owns 1,972 shares of the company’s stock, valued at $24,985.24. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Myers Industries Trading Up 1.5 %

Shares of NYSE MYE opened at $12.76 on Friday. The company has a market cap of $475.25 million, a price-to-earnings ratio of 30.37 and a beta of 1.21. The stock’s 50 day simple moving average is $11.69 and its 200 day simple moving average is $12.30. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 1.36. Myers Industries, Inc. has a 12-month low of $9.32 and a 12-month high of $23.63.

Myers Industries (NYSE:MYE) last posted its earnings results on Thursday, March 6th. The industrial products company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.09. The company had revenue of $203.88 million for the quarter, compared to analysts’ expectations of $203.10 million. Myers Industries had a return on equity of 14.75% and a net margin of 1.88%. Equities research analysts expect that Myers Industries, Inc. will post 0.95 EPS for the current year.

Myers Industries declared that its Board of Directors has initiated a stock buyback program on Thursday, March 6th that allows the company to buyback $10.00 million in shares. This buyback authorization allows the industrial products company to repurchase up to 2.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Myers Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be paid a $0.135 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.54 annualized dividend and a dividend yield of 4.23%. Myers Industries’s payout ratio is currently 284.21%.

Hedge Funds Weigh In On Myers Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 DIFC Ltd acquired a new position in Myers Industries during the 3rd quarter worth $28,000. Point72 Asset Management L.P. bought a new stake in shares of Myers Industries during the third quarter valued at about $72,000. Aquatic Capital Management LLC lifted its holdings in Myers Industries by 103.1% in the fourth quarter. Aquatic Capital Management LLC now owns 5,484 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 2,784 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Myers Industries in the 3rd quarter valued at about $85,000. Finally, ProShare Advisors LLC acquired a new position in Myers Industries during the 4th quarter valued at about $114,000. 90.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Myers Industries from a “sell” rating to a “hold” rating in a research note on Friday, March 7th.

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.