Myers Industries Inc. (MYE) Sees Unusually-High Trading Volume
Shares of Myers Industries Inc. (NYSE:MYE) saw strong trading volume on Thursday . 72,363 shares changed hands during mid-day trading, an increase of 31% from the previous session’s volume of 55,238 shares.The stock last traded at $14.35 and had previously closed at $14.48.
Separately, Zacks Investment Research lowered Myers Industries from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th.
The company’s 50 day moving average price is $14.70 and its 200 day moving average price is $13.60. The stock has a market cap of $430.19 million and a P/E ratio of 135.75.
Myers Industries (NYSE:MYE) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.02. During the same period in the prior year, the firm posted $0.30 EPS. The business earned $144.10 million during the quarter, compared to analysts’ expectations of $152.90 million. The company’s revenue for the quarter was down 12.3% on a year-over-year basis. Equities research analysts anticipate that Myers Industries Inc. will post $0.56 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 2nd will be paid a $0.135 dividend. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $0.54 annualized dividend and a dividend yield of 3.75%.
In other news, Director Jane Scaccetti bought 2,000 shares of Myers Industries stock in a transaction dated Tuesday, August 16th. The stock was bought at an average cost of $14.64 per share, for a total transaction of $29,280.00. Following the purchase, the director now directly owns 4,800 shares in the company, valued at approximately $70,272. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
An institutional investor recently raised its position in Myers Industries stock. Schwab Charles Investment Management Inc. boosted its stake in shares of Myers Industries Inc. (NYSE:MYE) by 4.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 140,178 shares of the company’s stock after buying an additional 6,328 shares during the period. Schwab Charles Investment Management Inc. owned 0.47% of Myers Industries worth $1,868,000 as of its most recent filing with the SEC.
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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