MEYER - Meyer Plc

Jul 4, 2022 at 11:56 Twitter · Facebook

MEYER share price on Nigerian Stock Exchange

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.

Meyer Plc is listed on the Nigerian Stock Exchange (NGX). Meyer is traded on the NGX under the ticker symbol “MEYER”. The International Securities Identification Number (ISIN) of NGX:MEYER is NGMEYER00006. Meyer Plc is currently the 119th most valuable stock on the NGX with a market capitalization of NGN 1.34 billion, which is about 0.0048% of the Nigerian Stock Exchange equity market.

MEYER Stock Market Performance

The current share price of Meyer Plc (MEYER) is NGN 2.52. MEYER closed its last trading day (Friday, July 1, 2022) at 2.52 NGN per share on the Nigerian Stock Exchange (NGX). Meyer began the year with a share price of 0.46 NGN and has since gained 448% on that price valuation, ranking it second on the NGX in terms of year-to-date performance. Investors should, however, take caution of MEYER’s recent poor performance, having lost 19% of its value in the past four weeks.

Meyer is the 92nd most traded stock on the Nigerian Stock Exchange over the past three months (Mar 30 - Jul 1, 2022). MEYER has traded a total volume of 10.9 million shares—in 590 deals—valued at NGN 21.8 million over the period, with an average of 172,491 traded shares per session. A volume high of 1.09 million was achieved on April 20th for the same period. The table below details the last 10 trading days of activity of Meyer on the Nigerian Stock Exchange.

Profile of Meyer Plc

Meyer Plc operates in the Industrials sector.

MEYER Industrial Market Competitors

Meyer Plc, issuers of the MEYER stock on the Nigerian Stock Exchange, have a number of market competitors who are also engaged in the Industrials sector. The table below presents an overview of the market standing of the top 10 by year-to-date performance.

Index of African Stock Exchanges:

1. Botswana Stock Exchange
2. BRVM Stock Exchange
3. Ghana Stock Exchange
4. Johannesburg Stock Exchange
5. Lusaka Securities Exchange
6. Malawi Stock Exchange
7. Nairobi Securities Exchange
8. Nigerian Stock Exchange
9. Uganda Securities Exchange
10. Zimbabwe Stock Exchange