Myers Industries, Inc. (NYSE:MYE) Short Interest Update

Myers Industries, Inc. (NYSE:MYE) was the target of a large decrease in short interest during the month of January. As of January 15th, there was short interest totalling 829,600 shares, a decrease of 27.9% from the December 31st total of 1,150,000 shares. Based on an average trading volume of 470,100 shares, the short-interest ratio is currently 1.8 days.

Analyst Upgrades and Downgrades

MYE has been the topic of a number of research reports. StockNews.com lowered shares of Myers Industries from a “hold” rating to a “sell” rating in a research note on Tuesday. KeyCorp cut Myers Industries from an “overweight” rating to a “sector weight” rating in a report on Wednesday, November 6th.

Myers Industries Trading Down 0.6 %

NYSE:MYE opened at $12.22 on Friday. Myers Industries has a twelve month low of $10.35 and a twelve month high of $23.63. The business has a 50 day moving average price of $11.59 and a two-hundred day moving average price of $12.84. The company has a market cap of $455.13 million, a P/E ratio of 29.08 and a beta of 1.22. The company has a quick ratio of 1.11, a current ratio of 1.80 and a debt-to-equity ratio of 1.36.

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

Insider Activity at Myers Industries

In other Myers Industries news, CEO Dave Basque purchased 5,000 shares of the stock in a transaction on Thursday, December 5th. The stock was bought at an average cost of $12.13 per share, for a total transaction 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 $414,263.76. The trade was a 17.15 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired 19,500 shares of company stock valued at $232,575 in the last three months. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Myers Industries

Several hedge funds have recently bought and sold shares of MYE. Dimensional Fund Advisors LP raised its position in shares of Myers Industries by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,604,324 shares of the industrial products company’s stock valued at $21,466,000 after purchasing an additional 4,777 shares during the period. State Street Corp grew its stake in Myers Industries by 2.6% in the 3rd quarter. State Street Corp now owns 1,374,246 shares of the industrial products company’s stock valued at $19,176,000 after buying an additional 35,456 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Myers Industries by 1.1% in the 3rd quarter. Victory Capital Management Inc. now owns 1,034,125 shares of the industrial products company’s stock valued at $14,292,000 after acquiring an additional 11,434 shares during the period. Geode Capital Management LLC increased its stake in shares of Myers Industries by 1.3% during the third quarter. Geode Capital Management LLC now owns 832,442 shares of the industrial products company’s stock worth $11,507,000 after purchasing an additional 10,666 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC increased its position in Myers Industries by 60.2% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 624,010 shares of the industrial products company’s stock worth $8,624,000 after buying an additional 234,390 shares during the period. 90.82% of the stock is currently owned by institutional investors and hedge funds.

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.