Myers Industries (NYSE:MYE) Upgraded to “Hold” at StockNews.com

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

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

Myers Industries Trading Down 1.6 %

NYSE:MYE opened at $10.76 on Thursday. Myers Industries has a 12-month low of $10.35 and a 12-month high of $23.63. The firm has a market cap of $400.92 million, a PE ratio of 25.62 and a beta of 1.22. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 1.36. The stock has a fifty day moving average price of $11.58 and a 200 day moving average price of $12.99.

Myers Industries (NYSE:MYE) last announced its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.04). Myers Industries had a net margin of 1.88% and a return on equity of 14.75%. The company had revenue of $205.07 million during the quarter. During the same period in the previous year, the firm earned $0.38 EPS. Sell-side analysts anticipate that Myers Industries will post 0.95 earnings per share for the current fiscal year.

Myers Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 5.02%. The ex-dividend date was Tuesday, December 3rd. Myers Industries’s dividend payout ratio (DPR) is presently 128.57%.

Insider Buying and Selling

In related news, CEO Dave Basque purchased 5,000 shares of Myers Industries stock in a transaction that occurred on Monday, December 9th. The stock was purchased at an average cost of $12.41 per share, with a total value of $62,050.00. Following the completion of the transaction, the chief executive officer now directly owns 39,152 shares in the company, valued at approximately $485,876.32. The trade was a 14.64 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired a total of 19,500 shares of company stock worth $232,575 over the last 90 days. 1.40% of the stock is owned by insiders.

Institutional Trading of Myers Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in MYE. Victory Capital Management Inc. purchased a new position in Myers Industries during the 2nd quarter worth approximately $13,684,000. Los Angeles Capital Management LLC increased its holdings in shares of Myers Industries by 324.7% in the 2nd quarter. Los Angeles Capital Management LLC now owns 61,664 shares of the industrial products company’s stock valued at $825,000 after acquiring an additional 47,144 shares during the period. Acadian Asset Management LLC raised its position in Myers Industries by 3.9% in the 2nd quarter. Acadian Asset Management LLC now owns 210,903 shares of the industrial products company’s stock valued at $2,817,000 after purchasing an additional 7,940 shares during the last quarter. American Century Companies Inc. boosted its stake in Myers Industries by 12.3% during the 2nd quarter. American Century Companies Inc. now owns 556,131 shares of the industrial products company’s stock worth $7,441,000 after purchasing an additional 60,935 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Myers Industries by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,604,324 shares of the industrial products company’s stock worth $21,466,000 after purchasing an additional 4,777 shares during the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

Myers Industries Company Profile

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.