Myers Industries Inc. (MYE) Sees Unusually-High Trading Volume
Myers Industries Inc. (NYSE:MYE) shares saw strong trading volume on Friday . 114,739 shares changed hands during 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.
Several equities analysts have commented on the company. Zacks Investment Research downgraded Myers Industries from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. TheStreet upgraded Myers Industries from a “sell” rating to a “hold” rating in a report on Friday, April 15th.
The company has a market cap of $448.42 million and a price-to-earnings ratio of 50.13. The stock has a 50 day moving average of $14.56 and a 200 day moving average of $12.98.
Myers Industries (NYSE:MYE) last released its quarterly earnings data 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. During the same quarter last year, the firm earned $0.13 EPS. The business had revenue of $151.20 million for the quarter, compared to the consensus estimate of $148 million. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. Analysts expect that Myers Industries Inc. will post $0.65 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 5th. Stockholders of record on Friday, June 17th were issued 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 of this dividend was Wednesday, June 15th.
In other Myers Industries news, Director Jane Scaccetti acquired 2,800 shares of the business’s stock in a transaction dated Wednesday, May 4th. The shares were acquired at an average price of $13.70 per share, for a total transaction of $38,360.00. Following the acquisition, the director now directly owns 2,800 shares of the company’s stock, valued at approximately $38,360. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO R David Banyard acquired 20,000 shares of the business’s stock in a transaction dated Thursday, May 5th. The shares were acquired 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 disclosure for this purchase can be found here.
A hedge fund recently raised its stake in Myers Industries stock. Morgan Stanley boosted its stake in shares of Myers Industries Inc. (NYSE:MYE) by 3.9% during the fourth quarter, Holdings Channel reports. The fund owned 145,515 shares of the company’s stock after buying an additional 5,525 shares during the period. Morgan Stanley owned 0.48% of Myers Industries worth $1,939,000 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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