Myers Industries Inc. (MYE) Sees Large Volume Increase
Myers Industries Inc. (NYSE:MYE) shares saw strong trading volume on Thursday . 72,363 shares traded 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 cut 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 $14.69 and its 200 day moving average price is $13.62. The stock has a market capitalization of $427.20 million and a price-to-earnings ratio of 134.81.
Myers Industries (NYSE:MYE) last posted its earnings results on Wednesday, August 3rd. The company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.02. During the same quarter in the prior year, the business earned $0.30 EPS. The firm earned $144.10 million during the quarter, compared to analyst estimates of $152.90 million. The business’s quarterly revenue was down 12.3% on a year-over-year basis. Equities analysts expect that Myers Industries Inc. will post $0.56 EPS for the current fiscal 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 given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend is Wednesday, August 31st.
In other news, Director Jane Scaccetti bought 2,000 shares of the business’s stock in a transaction dated Tuesday, August 16th. The shares were acquired at an average price of $14.64 per share, for a total transaction of $29,280.00. Following the completion of the transaction, the director now owns 4,800 shares of the company’s stock, valued at $70,272. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.
An institutional investor recently raised its position in Myers Industries stock. Schwab Charles Investment Management Inc. boosted its position in Myers Industries Inc. (NYSE:MYE) by 4.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 about 0.47% of Myers Industries worth $1,868,000 at the end of the most recent reporting period.
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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