Myers Industries Inc. (NYSE:MYE) was downgraded by research analysts at KeyCorp to an “underweight” rating in a report released on Tuesday, The Fly reports.
Separately, Zacks Investment Research raised shares of Myers Industries from a “sell” rating to a “hold” rating in a report on Wednesday, October 5th.
Shares of Myers Industries (NYSE:MYE) opened at 14.95 on Tuesday. The firm has a market capitalization of $447.33 million, a P/E ratio of 139.72 and a beta of 1.51. Myers Industries has a 12-month low of $10.12 and a 12-month high of $15.86. The company has a 50-day moving average price of $13.10 and a 200-day moving average price of $13.96.
Myers Industries (NYSE:MYE) last released its quarterly earnings data on Tuesday, November 8th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by $0.04. Myers Industries had a net margin of 0.48% and a return on equity of 15.52%. The business earned $132.70 million during the quarter, compared to analysts’ expectations of $131.65 million. During the same quarter in the prior year, the firm posted $0.09 earnings per share. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. Equities analysts predict that Myers Industries will post $0.46 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Friday, December 2nd will be issued a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend is Wednesday, November 30th. Myers Industries’s payout ratio is 600.00%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in shares of Myers Industries during the third quarter valued at approximately $122,000. BlackRock Advisors LLC increased its position in shares of Myers Industries by 6.9% in the third quarter. BlackRock Advisors LLC now owns 11,137 shares of the company’s stock valued at $145,000 after buying an additional 721 shares during the last quarter. First Trust Advisors LP increased its position in shares of Myers Industries by 4.9% in the third quarter. First Trust Advisors LP now owns 11,863 shares of the company’s stock valued at $154,000 after buying an additional 551 shares during the last quarter. Menta Capital LLC purchased a new position in shares of Myers Industries during the second quarter valued at approximately $177,000. Finally, Seizert Capital Partners LLC purchased a new position in shares of Myers Industries during the third quarter valued at approximately $163,000. 84.67% of the stock is owned by hedge funds and other institutional investors.
Myers Industries Company Profile
Myers Industries, Inc is an international manufacturing and distribution company. The Company operates through two segments: Material Handling, which designs, manufactures and markets a range of plastic and metal products, and Distribution, which is engaged in the distribution of equipment, tools and supplies used for tire servicing and automotive undervehicle repair and the manufacture of tire repair and retreading products.