Myers Industries, Inc. (NYSE:MYE) Shares Bought by Access Investment Management LLC

Access Investment Management LLC grew its stake in Myers Industries, Inc. (NYSE:MYE) by 75.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 111,315 shares of the industrial products company’s stock after buying an additional 47,710 shares during the period. Access Investment Management LLC owned 0.30% of Myers Industries worth $1,229,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Hotchkis & Wiley Capital Management LLC boosted its stake in Myers Industries by 60.2% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 624,010 shares of the industrial products company’s stock valued at $8,624,000 after acquiring an additional 234,390 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Myers Industries in the 3rd quarter valued at about $972,000. Barclays PLC grew its stake 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 buying an additional 60,954 shares during the last quarter. Tieton Capital Management LLC grew its stake in Myers Industries by 32.1% during the 3rd quarter. Tieton Capital Management LLC now owns 246,920 shares of the industrial products company’s stock worth $3,412,000 after buying an additional 59,995 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Myers Industries by 78.6% during the third quarter. JPMorgan Chase & Co. now owns 133,506 shares of the industrial products company’s stock worth $1,845,000 after buying an additional 58,761 shares during the period. 90.82% of the stock is owned by hedge funds and other institutional investors.

Myers Industries Stock Performance

Shares of MYE stock opened at $11.28 on Friday. The stock’s 50-day moving average price is $11.68 and its 200 day moving average price is $12.55. 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 stock has a market capitalization of $420.11 million, a PE ratio of 26.85 and a beta of 1.23. Myers Industries, Inc. has a 52-week low of $10.35 and a 52-week high of $23.63.

Insider Activity

In other news, CEO Dave Basque purchased 5,000 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were acquired at an average cost of $12.41 per share, for a total transaction of $62,050.00. Following the completion of the purchase, the chief executive officer now directly owns 39,152 shares in the company, valued at $485,876.32. The trade was a 14.64 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders have purchased 19,500 shares of company stock valued at $232,575. Company insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MYE. KeyCorp lowered shares of Myers Industries from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, November 6th. StockNews.com downgraded shares of Myers Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, January 28th.

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.