Myers Industries (NYSE:MYE) Upgraded at StockNews.com

StockNews.com upgraded shares of Myers Industries (NYSE:MYE) from a sell rating to a hold rating in a research report released on Thursday.

Separately, KeyCorp lowered shares of Myers Industries from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, November 6th.

Myers Industries Price Performance

Myers Industries stock opened at $10.65 on Thursday. Myers Industries has a 52 week low of $10.35 and a 52 week high of $23.63. The company’s 50 day moving average price is $11.56 and its two-hundred day moving average price is $12.96. The stock has a market cap of $396.82 million, a P/E ratio of 25.36 and a beta of 1.22. The company has a quick ratio of 1.11, a current ratio of 1.80 and a debt-to-equity ratio of 1.36.

Myers Industries (NYSE:MYE) last issued its quarterly earnings results on Monday, November 4th. The industrial products company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.04). The business had revenue of $205.07 million for the quarter. Myers Industries had a return on equity of 14.75% and a net margin of 1.88%. During the same quarter in the prior year, the business earned $0.38 EPS. On average, equities analysts predict that Myers Industries will post 0.95 earnings per share for the current year.

Myers Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Tuesday, December 3rd were paid a $0.135 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $0.54 annualized dividend and a yield of 5.07%. Myers Industries’s payout ratio is 128.57%.

Insider Buying and Selling at Myers Industries

In other Myers Industries news, CEO Dave Basque bought 5,000 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was purchased at an average price of $12.13 per share, for a total transaction of $60,650.00. Following the completion of the transaction, the chief executive officer now directly owns 34,152 shares of the company’s stock, valued at $414,263.76. This trade represents a 17.15 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders bought 19,500 shares of company stock valued at $232,575. Company insiders own 1.40% of the company’s stock.

Institutional Trading of Myers Industries

Hedge funds and other institutional investors have recently modified their holdings of the business. Quantbot Technologies LP boosted its holdings in Myers Industries by 8.0% in the 3rd quarter. Quantbot Technologies LP now owns 11,427 shares of the industrial products company’s stock worth $158,000 after buying an additional 846 shares during the period. nVerses Capital LLC boosted its holdings in shares of Myers Industries by 57.9% in the third quarter. nVerses Capital LLC now owns 3,000 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 1,100 shares during the period. Foundry Partners LLC grew its position in shares of Myers Industries by 1.0% in the third quarter. Foundry Partners LLC now owns 127,508 shares of the industrial products company’s stock valued at $1,762,000 after purchasing an additional 1,220 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Myers Industries by 10.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,959 shares of the industrial products company’s stock valued at $200,000 after purchasing an additional 1,357 shares during the period. Finally, Point72 DIFC Ltd purchased a new stake in Myers Industries during the 3rd quarter worth about $28,000. Institutional investors own 90.82% of the company’s stock.

About Myers Industries

Myers Industries, Inc engages in distribution of tire service supplies in Ohio. It operates through two segments, The Material Handling and Distribution. The Material Handling segment offers pallets, small parts bins, bulk shipping containers, and OEM parts, as well as storage and organization, and custom plastic products; and injection molded, rotationally molded or blow molded products, consumer fuel containers and tanks for water, fuel, and waste handling.