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

Versor Investments LP increased its stake in shares of Myers Industries, Inc. (NYSE:MYE) by 49.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 23,600 shares of the industrial products company’s stock after acquiring an additional 7,800 shares during the quarter. Versor Investments LP’s holdings in Myers Industries were worth $261,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Y Intercept Hong Kong Ltd boosted its holdings in Myers Industries by 25.7% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 33,119 shares of the industrial products company’s stock worth $366,000 after acquiring an additional 6,766 shares during the last quarter. Access Investment Management LLC boosted its holdings in Myers Industries by 75.0% during the fourth quarter. Access Investment Management LLC now owns 111,315 shares of the industrial products company’s stock worth $1,229,000 after purchasing an additional 47,710 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in Myers Industries by 18.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 24,778 shares of the industrial products company’s stock worth $274,000 after purchasing an additional 3,793 shares during the last quarter. Inspire Investing LLC grew its position in Myers Industries by 20.4% in the 4th quarter. Inspire Investing LLC now owns 36,291 shares of the industrial products company’s stock worth $401,000 after purchasing an additional 6,153 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in Myers Industries in the 4th quarter valued at about $290,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Dave Basque bought 5,000 shares of the stock in a transaction on Monday, December 9th. The shares were purchased 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. This represents a 14.64 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders purchased 11,000 shares of company stock valued at $134,850 in the last three months. Company insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

MYE has been the topic of a number of research analyst reports. StockNews.com downgraded Myers Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, January 28th. KeyCorp cut Myers Industries from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, November 6th.

Myers Industries Price Performance

MYE opened at $9.81 on Tuesday. Myers Industries, Inc. has a fifty-two week low of $9.69 and a fifty-two week high of $23.63. The firm has a 50-day moving average of $11.54 and a 200 day 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. The firm has a market cap of $365.52 million, a P/E ratio of 23.36 and a beta of 1.23.

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.