Versor Investments LP Acquires 7,800 Shares of Myers Industries, Inc. (NYSE:MYE)

Versor Investments LP raised its stake in shares of Myers Industries, Inc. (NYSE:MYE) by 49.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,600 shares of the industrial products company’s stock after purchasing an additional 7,800 shares during the period. Versor Investments LP owned 0.06% of Myers Industries worth $261,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GSA Capital Partners LLP acquired a new stake in shares of Myers Industries in the third quarter valued at about $246,000. JPMorgan Chase & Co. boosted its holdings in Myers Industries by 78.6% in the third quarter. JPMorgan Chase & Co. now owns 133,506 shares of the industrial products company’s stock valued at $1,845,000 after acquiring an additional 58,761 shares during the last quarter. Intech Investment Management LLC acquired a new stake in Myers Industries during the 3rd quarter valued at approximately $972,000. Barclays PLC raised its holdings in Myers Industries by 464.7% during the 3rd quarter. Barclays PLC now owns 74,072 shares of the industrial products company’s stock worth $1,024,000 after purchasing an additional 60,954 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in shares of Myers Industries in the 4th quarter worth approximately $290,000. 90.82% of the stock is owned by institutional investors and hedge funds.

Myers Industries Trading Down 10.5 %

Shares of MYE stock opened at $9.81 on Tuesday. The company has a market cap of $365.52 million, a P/E ratio of 23.36 and a beta of 1.23. Myers Industries, Inc. has a fifty-two week low of $9.69 and a fifty-two week high of $23.63. The stock has a 50 day simple moving average of $11.54 and a two-hundred day simple moving average of $12.41. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.11 and a current ratio of 1.80.

Insider Activity

In other news, CEO Dave Basque bought 5,000 shares of Myers Industries stock in a transaction dated Monday, December 9th. The stock was bought at an average cost of $12.41 per share, for a total transaction of $62,050.00. Following the purchase, the chief executive officer now directly owns 39,152 shares in the company, valued at approximately $485,876.32. This represents a 14.64 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders purchased 11,000 shares of company stock worth $134,850 in the last quarter. 1.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. KeyCorp cut shares of Myers Industries from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, November 6th. StockNews.com downgraded Myers Industries from a “hold” rating to a “sell” rating in a report on Tuesday, January 28th.

Myers Industries Profile

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.