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Buy Meyer stocks

Meyer (NGX: MEYER) Stocks

What is Meyer Plc

Meyer Plc is a Nigeria based company that manufactures and sells high quality paint for the residential, industrial, automotive, marine and construction sectors in Nigeria. The company also produces a range of tile adhesives and has business interests in selling and renting residential apartments and building and restoring properties.

Meyer Plc (previously DN Meyer) is a manufacturer and marketer of paints. The company was incorporated on 20th May, 1960 and subsequently converted to a public company in 1979. Meyer Plc is an offshoot of the former Hagemeyer Nigeria Limited, the manufacturer of Sigma Paints and Cosmetics. In 1994, Hagemeyer was bought over by Dunlop Nigeria Plc, which led to the change of both the corporate and brand names to Meyer Plc and Meyer Paints respectively. However, in July 2003, Dunlop Nigeria divested its controlling shares from DN Meyer Plc to ACIMS Limited and Meyer Plc ceased to be a subsidiary of Dunlop Nigeria. About this same period, Meyer Plc acquired the flooring adhesives business of Dunlop, extending the scope of its operation from the production and marketing of only paints to the production and marketing of floor tiles and adhesives.

The history of Meyer Plc can be traced back to 1940 when it was founded. The company was formerly known as DN Meyer Plc but has changed its name to Meyer Plc in 2016. The company was listed on 1 January 1979.

Today, Meyer Plc has a diversified portfolio in more sectors of the Industrials value chain and renders the following services: an extensive range of decorative paint, wood paint, vehicles finishes, industrial and marine coatings, road lining paint, roof coating and tube coating.

Meyer Plc’s equity stocks are for sale online on the Nigerian Stock Exchange (NGX) under the stock symbol MEYER.

Meyer Plc has its headquarters at Plot 34, Mobolaji Johnson Avenue, Oregun Industrial Estate, Alausa, Ikeja, Nigeria.

The current Chief Financial Officer, Managing Director of Meyer Plc is Rotimi Alashe.

Meyer Plc forms part of the Chemical Manufacturing Industry and the Industrials Sector.


Meyer Plc Stock Performance

The current price for Meyer Plc stocks is 0.20 Nigerian Naira (NGN). The company has a total market capitalisation of 106 Million NGN with a P/E ratio of 0 and earnings per share of 0 NGN. A total of 531 Million shares are outstanding.

With an increase of earnings per share and consistent profits over a period, investors who want to buy or sell Meyer Plc stocks can be assured of lucrative dividends and earnings in times to come.

According to an analysis on the live chart of Meyer Plc, analysts forecast further improved performance for the Industrials sector with market share growing as trading volumes increase.

Highlights of Meyer Plc in 2022

Meyer Plc started the year with a share price of 0.50 NGN, and it has lost 60 % in value on its price valuation, ranking 155th on the NGX where year-to-date performance is concerned.

Meyer Plc is currently the 117th most-traded stock on the NGX and it has experienced a total trading volume of more than 250,949 shares, which were finalized in 27 deals and were valued at a total of 55,209 NGN over three months, with an average of 3,983 shares in each trading session.

The highest volume shares traded on one single day was 63,212, on 1 September.


How to buy Meyer Plc stocks – Step by Step

The stock market is one of the most attractive financial markets that sees millions of retail investors and traders’ participation daily. To buy, sell or trade Meyer Plc stocks, traders and investors can follow a few simple steps:

  1. Find the share that you want to buy, in this case, “MEYER”.
  2. Select a forex broker that offers access to the Nigerian Stock Exchange (NGX).
  3. Review the broker’s trading conditions, fees, deposit and withdrawal methods, trading platform, customer support, regulation, and other components to ensure that they are aligned with your trading plan.
  4. Open a live trading account with the broker by completing the online application form and providing the necessary documentation to verify the trading account.
  5. You are now ready to make your first share purchase through the broker.
  6. You can further start to build and diversify your portfolio by buying more shares.


What is the NGX?

The Nigerian Stock Exchange (NGX), officially known as the Nigerian Exchange Group, comprises leading integrated market infrastructure in Africa that is servicing the Nigerian economy – the continent’s largest. The NGX provides capital access to companies that are seeking to gain the support of the financial markets to fund their business expansion.

Similarly, NGX offers its pool of domestic, regional, and international investors an assortment of regulated securities to in turn achieve their investment objectives.

Since March 2022, the former Nigerian Stock Exchange was demutualised from a member-owned not-for-profit entity into a shareholder-owned, profit making entity called the Nigerian Exchange Group Plc.

NGX publishes the standard, value-weighted All-Share Index (ASI), formulated in January 1984 with a base value of 100. The ASI tracks the general market movement of all listed equities on the Exchange, including those listed on the Growth Board, regardless of capitalisation.

Additional indices include the NGX30 and NGX50 which correspondingly track the top 30 and 50 companies in terms of market capitalisation and liquidity. Both of these indices, in which only fully paid-up common shares are admitted, are weighted by adjusted market capitalisation.


On which stock exchange does Meyer Plc have shares for sale?

Meyer Plc trades its equity on the Nigerian Stock Exchange (NGX) under the stock symbol MEYER.


What type of company is Meyer Plc?

Meyer Plc is a Nigeria based company that manufactures and sells high quality paint for the residential, industrial, automotive, marine and construction sectors in Nigeria.


In which industry and sector does Meyer Plc operate?

Meyer Plc forms part of the Chemical Manufacturing Industry and the Industrials Sector.


What is the price of Meyer Plc shares today?

At the time of writing, the current price of Meyer Plc shares was 0.20 NGN.


Is Meyer Plc a good investment?

Meyer Plc’s forecast indicates further growth and improvement in the second half of 2022, with investors expecting more profitable dividends and returns with increased financial performance.


What is the risk analysis for Meyer Plc?

Meyer Plc experienced a loss of 60.00 % in the value of its stocks over the last year.

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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