Myers Industries Inc. (MYE) Sees Unusually-High Trading Volume
Shares of Myers Industries Inc. (NYSE:MYE) saw strong trading volume on Friday . 114,739 shares changed hands during mid-day trading, an increase of 8% from the previous session’s volume of 106,417 shares.The stock last traded at $15.06 and had previously closed at $14.69.
A number of equities analysts have issued reports on the company. Zacks Investment Research downgraded Myers Industries from a “buy” rating to a “hold” rating in a report on Tuesday. TheStreet upgraded Myers Industries from a “sell” rating to a “hold” rating in a report on Friday, April 15th.
The firm’s 50-day moving average is $14.56 and its 200 day moving average is $12.98. The company has a market capitalization of $448.42 million and a PE ratio of 50.13.
Myers Industries (NYSE:MYE) last released its earnings results on Monday, May 2nd. The company reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.09. The company had revenue of $151.20 million for the quarter, compared to the consensus estimate of $148 million. During the same period in the prior year, the firm posted $0.13 EPS. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. Analysts anticipate that Myers Industries Inc. will post $0.65 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 5th. Stockholders of record on Friday, June 17th were given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 3.57%. The ex-dividend date was Wednesday, June 15th.
In other Myers Industries news, CEO R David Banyard acquired 20,000 shares of the company’s stock in a transaction that occurred on Thursday, May 5th. The stock was bought at an average price of $13.90 per share, for a total transaction of $278,000.00. Following the acquisition, the chief executive officer now directly owns 10,000 shares in the company, valued at $139,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jane Scaccetti acquired 2,800 shares of the company’s stock in a transaction that occurred on Wednesday, May 4th. The shares were acquired at an average price of $13.70 per share, with a total value of $38,360.00. Following the acquisition, the director now owns 2,800 shares in the company, valued at $38,360. The disclosure for this purchase can be found here.
A number of institutional investors have bought and sold shares of the stock. Gabelli Funds LLC boosted its position in Myers Industries by 1.7% in the fourth quarter. Gabelli Funds LLC now owns 1,494,513 shares of the company’s stock worth $19,907,000 after buying an additional 24,937 shares during the last quarter. Principal Financial Group Inc. boosted its position in Myers Industries by 1.7% in the fourth quarter. Principal Financial Group Inc. now owns 146,991 shares of the company’s stock worth $1,958,000 after buying an additional 2,467 shares during the last quarter. Finally, Morgan Stanley boosted its position in Myers Industries by 3.9% in the fourth quarter. Morgan Stanley now owns 145,515 shares of the company’s stock worth $1,939,000 after buying an additional 5,525 shares during the last quarter.
Myers Industries, Inc is an international manufacturing and distribution company. The Company operates through two segments: Material Handling, which designs, manufactures and markets a range of plastic and metal products, and Distribution, which is engaged in the distribution of equipment, tools and supplies used for tire servicing and automotive undervehicle repair and the manufacture of tire repair and retreading products.
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