Janney Montgomery Scott LLC Invests $290,000 in Myers Industries, Inc. (NYSE:MYE)

Janney Montgomery Scott LLC bought a new stake in Myers Industries, Inc. (NYSE:MYE) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 26,281 shares of the industrial products company’s stock, valued at approximately $290,000. Janney Montgomery Scott LLC owned 0.07% of Myers Industries as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in MYE. Point72 DIFC Ltd purchased a new stake in Myers Industries in the third quarter valued at approximately $28,000. nVerses Capital LLC raised its position in Myers Industries by 57.9% in the 3rd quarter. nVerses Capital LLC now owns 3,000 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 1,100 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Myers Industries in the 3rd quarter valued at $72,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Myers Industries during the 3rd quarter worth $85,000. Finally, Quest Partners LLC purchased a new position in Myers Industries during the 3rd quarter worth $150,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Myers Industries Stock Performance

NYSE:MYE opened at $12.25 on Wednesday. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.80 and a quick ratio of 1.11. The firm has a market cap of $456.44 million, a price-to-earnings ratio of 29.17 and a beta of 1.22. The firm’s fifty day moving average price is $11.71 and its 200 day moving average price is $12.68. Myers Industries, Inc. has a 1-year low of $10.35 and a 1-year high of $23.63.

Insider Transactions at Myers Industries

In other news, CEO Dave Basque purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was purchased at an average cost of $12.41 per share, with a total value of $62,050.00. Following the completion of the acquisition, the chief executive officer now directly owns 39,152 shares of the company’s stock, valued at approximately $485,876.32. This trade represents a 14.64 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders bought 19,500 shares of company stock worth $232,575. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

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