Short Interest in Myers Industries, Inc. (NYSE:MYE) Decreases By 16.8%

Myers Industries, Inc. (NYSE:MYE) saw a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 931,800 shares, a decline of 16.8% from the November 15th total of 1,120,000 shares. Based on an average daily trading volume, of 422,500 shares, the days-to-cover ratio is currently 2.2 days.

Myers Industries Stock Up 2.9 %

Shares of NYSE MYE opened at $12.30 on Monday. The firm has a fifty day simple moving average of $12.09 and a two-hundred day simple moving average of $13.49. The firm has a market capitalization of $458.30 million, a PE ratio of 29.29 and a beta of 1.22. 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 has a 12 month low of $10.35 and a 12 month high of $23.63.

Myers Industries (NYSE:MYE) last issued its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.04). The company had revenue of $205.07 million during the quarter. Myers Industries had a return on equity of 14.75% and a net margin of 1.88%. During the same period in the previous year, the business earned $0.38 EPS. Equities analysts expect that Myers Industries will post 0.95 earnings per share for the current year.

Myers Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 3rd will be paid a $0.135 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $0.54 annualized dividend and a yield of 4.39%. Myers Industries’s payout ratio is 128.57%.

Insider Buying and Selling

In other Myers Industries news, CEO Dave Basque bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were bought at an average cost of $11.33 per share, with a total value of $56,650.00. Following the completion of the purchase, the chief executive officer now directly owns 29,152 shares of the company’s stock, valued at $330,292.16. This trade represents a 20.70 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders have bought a total of 19,500 shares of company stock valued at $232,575 over the last three months. 1.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Myers Industries

Institutional investors have recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new stake in shares of Myers Industries in the 2nd quarter worth about $25,000. Point72 DIFC Ltd purchased a new stake in Myers Industries in the third quarter worth about $28,000. Point72 Asset Management L.P. bought a new position in shares of Myers Industries during the third quarter valued at approximately $72,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Myers Industries during the third quarter valued at approximately $85,000. Finally, Quest Partners LLC bought a new stake in shares of Myers Industries in the 3rd quarter worth approximately $150,000. Institutional investors own 90.82% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, KeyCorp lowered Myers Industries from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, November 6th.

About Myers Industries

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.