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Meyer Plc (NGX: MEYER) | Share Price

Nigel Firth
Nigel Frith trader
Updated 20 May 2024

Overview of Meyer Plc

Meyer Plc is a Nigeria based company listed on the Nigerian Stock Exchange (NGX) that manufactures and sells high quality paint for the residential, industrial, automotive, marine and construction sectors in Nigeria.

Meyer Plc also produces a range of tile adhesives and has business interests in selling and renting residential apartments and building and restoring properties.

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

The history of Meyer Plc goes back to 20 May 1960 when it was founded as a sprout of the former Hagemeyer Nigeria Limited, the manufacturer of Sigma Paints and Cosmetics. It was converted to a public company in 1979. In July 2003, Dunlop Nigeria divested its controlling shares from DN Meyer Plc to ACIMS Limited and Meyer Plc acquired the flooring adhesives business of Dunlop, extending its operation from the production and marketing of only paints to the production and marketing of floor tiles and adhesives.

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

The current Managing Director of Meyer Plc is Rotimi Alashe.

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Meyer Plc

Meyer

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

Meyer Plc forms part of the Chemical Manufacturing Industry and the Industrials Sector of the Nigerian Stock Exchange (NGX).

Meyer Plc Stock Performance

The current price for Meyer Plc stocks on the Nigerian Stock Exchange (NGX) is 0.33 Nigerian Naira (NGN).

An analysis of financial data of Meyer Plc showed that the company has a total market capitalisation of 175 Million NGN, with a Price/Earning ratio of 0 and earnings per share of 0 NGN.

With an increase of earnings per share and reliable profits over a period, investors who want to buy or sell Meyer Plc stocks can look forward to more profitable 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 2021

Meyer Plc started the current financial year (2021) with a share price of 0.50 Nigerian Naira (NGN) on the Nigerian Stock Exchange (NGX), and it has lost 34 % in value on its price valuation, ranking 149th on the NGX with its year-to-date performance.

Meyer Plc is currently the 105th most-traded stock on the NGX and it has experienced a total trading volume of more than 1.66 million shares, which were finalised in 31 deals and were valued at a total of 404,561 Nigerian Naira (NGN) over the recent three month period from September to December 2021, with an average of 26,337 shares in each trading session.

During the same period a volume high of 884,631 was achieved on December 2.

Meyer - How To Trade

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 participating daily. To buy, sell or trade Meyer Plc stocks on the Nigerian Stock Exchange (NGX), 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. Once your account has been activated, you are ready to make your first share purchase through the broker.
  6. From here you can start to build and diversify your portfolio by buying more shares.

FAQs

The Nigerian Stock Exchange (NGX) (officially the Nigerian Exchange Group) is a leading integrated market organisation in Africa servicing the continent’s largest economy, that of Nigeria. The Exchange provides capital access to companies that seek to take advantage of the financial markets to fund their business expansion. The NGX also provides its collection of domestic, regional, and international investors with an array of regulated securities to achieve their investment objectives.

The NGX publishes the benchmark, value-weighted All-Share Index (ASI), formulated in January 1984 with a base value of 100 and which tracks the general market movement of all listed equities on the Exchange.

The NGX30 and NGX50 are additional indices that track the top 30 and 50 companies in terms of market capitalization and liquidity respectively. Only fully paid-up common shares weighted by adjusted market capitalization are admitted to these indices.

In March 2021, the Nigerian Stock Exchange was transformed into a shareholder-owned, profit making entity, the Nigerian Exchange Group Plc, when it was demutualised from a member-owned not-for-profit entity.

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Nigel Firth
Nigel Frith trader
Nigel has been in the regulated financial services industry for nearly a decade, has previously owned a financial brokerage and has written many times for sites relating to personal finance and trading.