Myers Industries (NYSE:MYE) Downgraded to “Sector Weight” Rating by KeyCorp

KeyCorp lowered shares of Myers Industries (NYSE:MYE) from an overweight rating to a sector weight rating in a report issued on Wednesday morning, MarketBeat Ratings reports. KeyCorp also issued estimates for Myers Industries’ FY2026 earnings at $1.58 EPS.

Myers Industries Trading Up 1.8 %

NYSE:MYE traded up $0.22 during midday trading on Wednesday, hitting $12.44. The stock had a trading volume of 58,461 shares, compared to its average volume of 252,618. Myers Industries has a one year low of $10.77 and a one year high of $23.63. The company has a market capitalization of $463.04 million, a price-to-earnings ratio of 29.07 and a beta of 1.23. The stock has a 50-day moving average of $13.27 and a 200 day moving average of $14.82. The company has a quick ratio of 1.16, a current ratio of 1.81 and a debt-to-equity ratio of 1.32.

Myers Industries (NYSE:MYE) last posted its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.04). The firm had revenue of $205.07 million for the quarter. Myers Industries had a return on equity of 14.53% and a net margin of 1.88%. During the same period in the previous year, the business posted $0.38 EPS. As a group, sell-side analysts forecast that Myers Industries will post 1.13 EPS for the current year.

Myers Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $0.135 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.54 annualized dividend and a yield of 4.34%. Myers Industries’s dividend payout ratio (DPR) is currently 128.57%.

Institutional Investors Weigh In On Myers Industries

Several hedge funds and other institutional investors have recently made changes to their positions in MYE. nVerses Capital LLC acquired a new stake in shares of Myers Industries in the 2nd quarter worth $25,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Myers Industries in the 1st quarter valued at approximately $91,000. Covestor Ltd increased its holdings in shares of Myers Industries by 712,200.0% during the 1st quarter. Covestor Ltd now owns 7,123 shares of the industrial products company’s stock worth $165,000 after buying an additional 7,122 shares during the last quarter. Gallacher Capital Management LLC purchased a new stake in shares of Myers Industries during the 2nd quarter valued at approximately $186,000. Finally, Metis Global Partners LLC acquired a new position in Myers Industries in the third quarter valued at approximately $192,000. Institutional investors and hedge funds 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.