Insider Buying: The Myers Industries, Inc. (NYSE:MYE) Independent Director Just Bought 5.8% More Shares

Even if it's not a huge purchase, we think it was good to see that Bruce Lisman, the Independent Director of Myers Industries, Inc. (NYSE:MYE) recently shelled out US$52k to buy stock, at US$20.96 per share. However, it only increased their shares held by 5.8%, and it wasn't a huge purchase by absolute value, either.

Check out our latest analysis for Myers Industries

The Last 12 Months Of Insider Transactions At Myers Industries

The Independent Chairman, Frederic Liebau, made the biggest insider sale in the last 12 months. That single transaction was for US$316k worth of shares at a price of US$21.05 each. So we know that an insider sold shares at around the present share price of US$20.52. While we don't usually like to see insider selling, it's more concerning if the sales take place at a lower price. In this case, the big sale took place at around the current price, so it's not too bad (but it's still not a positive). The only individual insider seller over the last year was Frederic Liebau.

Happily, we note that in the last year insiders paid US$551k for 29.00k shares. But insiders sold 15.00k shares worth US$316k. In the last twelve months there was more buying than selling by Myers Industries insiders. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!

There are always plenty of stocks that insiders are buying. So if that suits your style you could check each stock one by one or you could take a look at this free list of companies. (Hint: insiders have been buying them).

Insider Ownership

For a common shareholder, it is worth checking how many shares are held by company insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. From our data, it seems that Myers Industries insiders own 1.2% of the company, worth about US$8.9m. Overall, this level of ownership isn't that impressive, but it's certainly better than nothing!

So What Do The Myers Industries Insider Transactions Indicate?

It is good to see recent purchasing. And the longer term insider transactions also give 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. Therefore, you should definitely take a look at this FREE report showing analyst forecasts for Myers Industries.

Of course Myers Industries may not be the best stock to buy. So you may wish to see this free collection of high quality companies.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.