Myers Industries (NYSE:MYE) Lowered to Sell Rating by StockNews.com

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

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

Myers Industries Trading Down 0.6 %

NYSE MYE opened at $12.22 on Tuesday. The company’s 50-day simple moving average is $11.59 and its two-hundred day simple moving average is $12.84. Myers Industries has a one year low of $10.35 and a one year high of $23.63. The company has a market capitalization of $455.13 million, a price-to-earnings ratio of 29.08 and a beta of 1.22. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.11 and a current ratio of 1.80.

Myers Industries (NYSE:MYE) last issued its quarterly earnings data 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 during the quarter. Myers Industries had a return on equity of 14.75% and a net margin of 1.88%. During the same period last year, the business earned $0.38 earnings per share. Equities analysts forecast that Myers Industries will post 0.95 EPS for the current fiscal year.

Insider Activity at Myers Industries

In other Myers Industries news, CEO Dave Basque bought 5,000 shares of Myers Industries stock in a transaction that occurred on Monday, December 9th. The shares were bought at an average cost of $12.41 per share, with a total value of $62,050.00. Following the transaction, the chief executive officer now directly owns 39,152 shares of the company’s stock, valued at approximately $485,876.32. This represents a 14.64 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders bought 19,500 shares of company stock valued at $232,575 over the last 90 days. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Myers Industries

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its stake 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 valued at $21,466,000 after purchasing an additional 4,777 shares in the last quarter. State Street Corp grew its holdings in shares of Myers Industries by 2.6% during the third quarter. State Street Corp now owns 1,374,246 shares of the industrial products company’s stock valued at $19,176,000 after buying an additional 35,456 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Myers Industries by 1.1% in the 3rd quarter. Victory Capital Management Inc. now owns 1,034,125 shares of the industrial products company’s stock valued at $14,292,000 after acquiring an additional 11,434 shares during the period. Geode Capital Management LLC raised its stake in Myers Industries by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 832,442 shares of the industrial products company’s stock worth $11,507,000 after acquiring an additional 10,666 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in Myers Industries by 60.2% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 624,010 shares of the industrial products company’s stock worth $8,624,000 after acquiring an additional 234,390 shares during the period. 90.82% of the stock is owned by hedge funds and other institutional investors.

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.