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AKRON, Ohio—Aaron M. Schapper, the President and CEO of Myers Industries Inc . (NYSE:MYE), recently acquired 1,972 shares of the company’s common stock, according to a recent SEC filing. The shares were purchased at a weighted average price of $12.67, amounting to a total transaction value of approximately $24,985. The company, with a market capitalization of about $470 million, has maintained a strong track record of dividend payments for 54 consecutive years, according to InvestingPro data.
The transaction was executed on March 13, 2025, and was conducted as a direct ownership acquisition. The purchase price reflects a range of prices from $12.65 to $12.675 per share. This acquisition brings Schapper’s total direct holdings to 1,972 shares following the transaction.
Myers Industries, based in Akron, Ohio, is known for its focus on manufacturing plastic and rubber products, serving a variety of industrial applications. InvestingPro analysis indicates the company maintains a "GOOD" overall financial health score, with particularly strong profitability metrics. For deeper insights into Myers Industries’ valuation and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro, which covers over 1,400 US stocks with detailed analysis and actionable intelligence.
In other recent news, Myers Industries Inc. reported a robust fourth quarter for 2024, surpassing analyst expectations with an earnings per share (EPS) of $0.19, compared to the forecast of $0.10. Revenue also exceeded projections, reaching $203.9 million against the expected $203.1 million. The company’s strategic initiatives and growth in consumer and industrial markets, along with contributions from the Signature Systems acquisition, were key factors in this strong performance. Additionally, Myers Industries has temporarily suspended formal annual guidance, although it anticipates continued growth in its Signature Systems and military products.
The company has announced a new share repurchase program of $10 million, reflecting confidence in its business strength. Analysts from KeyCorp (NYSE:KEY) have shown interest in the company’s portfolio optimization efforts, highlighting the need for Myers Industries to address underperforming segments. Meanwhile, the company is focused on restructuring plans to deliver annualized cost savings of $20 million by the end of 2025, primarily in selling, general, and administrative expenses.
Despite challenges, such as potential declines in the fuel container sales and a flat performance in the food and beverage market, Myers Industries is optimistic about growth in other segments like bulk containers. The company is also working on enhancing its distribution segment by making footprint changes and adding salespeople, aiming to improve profitability in 2025.
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