Y Intercept Hong Kong Ltd Buys 6,766 Shares of Myers Industries, Inc. (NYSE:MYE)

Y Intercept Hong Kong Ltd lifted its stake in shares of Myers Industries, Inc. (NYSE:MYE) by 25.7% during the fourth quarter, HoldingsChannel reports. The firm owned 33,119 shares of the industrial products company’s stock after acquiring an additional 6,766 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Myers Industries were worth $366,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Quantbot Technologies LP raised its stake in shares of Myers Industries by 8.0% during the 3rd quarter. Quantbot Technologies LP now owns 11,427 shares of the industrial products company’s stock worth $158,000 after purchasing an additional 846 shares in the last quarter. Foundry Partners LLC raised its stake in shares of Myers Industries by 1.0% during the 3rd quarter. Foundry Partners LLC now owns 127,508 shares of the industrial products company’s stock worth $1,762,000 after purchasing an additional 1,220 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of Myers Industries during the 3rd quarter worth approximately $28,000. Exchange Traded Concepts LLC raised its stake in shares of Myers Industries by 18.1% during the 4th 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 in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Myers Industries in the 3rd quarter valued at $72,000. Institutional investors own 90.82% of the company’s stock.

Myers Industries Stock Down 10.5 %

MYE opened at $9.81 on Tuesday. Myers Industries, Inc. has a 1-year low of $9.69 and a 1-year high of $23.63. The stock’s fifty day simple moving average is $11.54 and its 200 day simple moving average is $12.41. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 1.36. The stock has a market cap of $365.52 million, a PE ratio of 23.36 and a beta of 1.23.

Wall Street Analysts Forecast Growth

MYE has been the topic of a number of research analyst reports. StockNews.com cut 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 note on Wednesday, November 6th.

Insiders Place Their Bets

In other news, CEO Dave Basque acquired 5,000 shares of the stock in a transaction on Monday, December 9th. The shares were purchased at an average price of $12.41 per share, for a total transaction of $62,050.00. Following the transaction, the chief executive officer now directly owns 39,152 shares of the company’s stock, valued at approximately $485,876.32. This represents a 14.64 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought 11,000 shares of company stock worth $134,850 in the last 90 days. Company insiders own 1.40% of the company’s stock.

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.