Point72 DIFC Ltd Invests $28,000 in Myers Industries, Inc. (NYSE:MYE)

Point72 DIFC Ltd purchased a new stake in shares of Myers Industries, Inc. (NYSE:MYE) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 2,016 shares of the industrial products company’s stock, valued at approximately $28,000.

Several other hedge funds have also bought and sold shares of MYE. Quantbot Technologies LP boosted its position in shares of Myers Industries by 8.0% in the 3rd quarter. Quantbot Technologies LP now owns 11,427 shares of the industrial products company’s stock worth $158,000 after purchasing an additional 846 shares in the last quarter. nVerses Capital LLC raised its stake in Myers Industries by 57.9% during the third quarter. nVerses Capital LLC now owns 3,000 shares of the industrial products company’s stock valued at $41,000 after buying an additional 1,100 shares during the last quarter. Foundry Partners LLC boosted its holdings in Myers Industries by 1.0% in the third quarter. Foundry Partners LLC now owns 127,508 shares of the industrial products company’s stock worth $1,762,000 after acquiring an additional 1,220 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Myers Industries by 10.0% in the second quarter. The Manufacturers Life Insurance Company now owns 14,959 shares of the industrial products company’s stock worth $200,000 after acquiring an additional 1,357 shares during the last quarter. Finally, Tieton Capital Management LLC increased its holdings in shares of Myers Industries by 1.3% during the second quarter. Tieton Capital Management LLC now owns 186,925 shares of the industrial products company’s stock valued at $2,501,000 after acquiring an additional 2,380 shares in the last quarter. Institutional investors own 90.82% of the company’s stock.

Analysts Set New Price Targets

Separately, KeyCorp cut shares of Myers Industries from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, November 6th.

Insider Activity

In other news, CEO Dave Basque acquired 5,000 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was bought at an average price of $12.13 per share, with a total value of $60,650.00. Following the completion of the acquisition, the chief executive officer now directly owns 34,152 shares of the company’s stock, valued at approximately $414,263.76. The trade was a 17.15 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased 19,500 shares of company stock valued at $232,575 over the last three months. Insiders own 1.40% of the company’s stock.

Myers Industries Price Performance

Shares of NYSE MYE opened at $12.08 on Wednesday. The firm has a market cap of $450.10 million, a P/E ratio of 28.76 and a beta of 1.22. Myers Industries, Inc. has a twelve month low of $10.35 and a twelve month high of $23.63. The company has a quick ratio of 1.11, a current ratio of 1.80 and a debt-to-equity ratio of 1.36. The company has a 50 day moving average of $12.12 and a 200 day moving average of $13.55.

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

Myers Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 3rd will be paid a $0.135 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.47%. Myers Industries’s dividend payout ratio is presently 128.57%.

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.