Myers Industries (NYSE:MYE) Given New $22.00 Price Target at KeyCorp

Myers Industries (NYSE:MYE) had its price objective trimmed by KeyCorp from $27.00 to $22.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

Myers Industries Stock Up 2.2 %

Shares of MYE opened at $12.95 on Wednesday. The firm has a market cap of $482.00 million, a P/E ratio of 12.33 and a beta of 1.21. The stock has a 50 day simple moving average of $13.94 and a two-hundred day simple moving average of $16.04. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.81 and a quick ratio of 1.16. Myers Industries has a 1 year low of $12.21 and a 1 year high of $23.63.

Myers Industries (NYSE:MYE) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.08. The firm had revenue of $220.24 million during the quarter. Myers Industries had a return on equity of 16.27% and a net margin of 4.79%. During the same period last year, the company posted $0.35 EPS. On average, analysts forecast that Myers Industries will post 1.13 earnings per share for the current fiscal year.

Myers Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Friday, September 13th were paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend was Friday, September 13th. Myers Industries’s dividend payout ratio (DPR) is presently 51.43%.

Institutional Trading of Myers Industries

A number of institutional investors have recently made changes to their positions in MYE. Los Angeles Capital Management LLC purchased a new stake in Myers Industries in the first quarter worth $336,000. Counterpoint Mutual Funds LLC purchased a new stake in Myers Industries in the first quarter worth $268,000. Hodges Capital Management Inc. purchased a new stake in Myers Industries in the first quarter worth $562,000. Principal Financial Group Inc. lifted its stake in Myers Industries by 0.3% in the first quarter. Principal Financial Group Inc. now owns 191,955 shares of the industrial products company’s stock worth $4,448,000 after acquiring an additional 519 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in Myers Industries by 11.7% in the first quarter. BNP Paribas Financial Markets now owns 83,107 shares of the industrial products company’s stock worth $1,926,000 after acquiring an additional 8,719 shares during the period. Hedge funds and other 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.