In This Article:
Potential Myers Industries, Inc. (NYSE:MYE) shareholders may wish to note that the Independent Director, Lori Lutey, recently bought US$170k worth of stock, paying US$17.02 for each share. We reckon that's a good sign, especially since the purchase boosted their holding by 160%.
Check out our latest analysis for Myers Industries
Myers Industries Insider Transactions Over The Last Year
Over the last year, we can see that the biggest insider purchase was by President Michael McGaugh for US$304k worth of shares, at about US$12.14 per share. Even though the purchase was made at a significantly lower price than the recent price (US$17.78), we still think insider buying is a positive. While it does suggest insiders consider the stock undervalued at lower prices, this transaction doesn't tell us much about what they think of current prices.
Myers Industries insiders may have bought shares in the last year, but they didn't sell any. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of growing companies that insiders are buying.
Insider Ownership of Myers Industries
Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. Our data indicates that Myers Industries insiders own about US$6.3m worth of shares (which is 1.0% of the company). Whilst better than nothing, we're not overly impressed by these holdings.
So What Do The Myers Industries Insider Transactions Indicate?
The recent insider purchases are heartening. And an analysis of the transactions over the last year also gives us confidence. On this analysis the only slight negative we see is the fairly low (overall) insider ownership; their transactions suggest that they are quite positive on Myers Industries stock. While we like knowing what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. When we did our research, we found 4 warning signs for Myers Industries (1 is a bit unpleasant!) that we believe deserve your full attention.
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.