Myers Industries (NYSE:MYE) Downgraded by StockNews.com

StockNews.com cut shares of Myers Industries (NYSE:MYEGet Rating) from a strong-buy rating to a buy rating in a research report released on Wednesday.

Myers Industries Price Performance

MYE opened at $21.61 on Wednesday. Myers Industries has a 12-month low of $15.82 and a 12-month high of $25.55. The company has a current ratio of 1.72, a quick ratio of 1.04 and a debt-to-equity ratio of 0.48. The business’s fifty day simple moving average is $22.99 and its 200-day simple moving average is $20.94. The company has a market capitalization of $788.12 million, a price-to-earnings ratio of 16.37 and a beta of 1.33.

Myers Industries (NYSE:MYEGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.22. Myers Industries had a return on equity of 23.60% and a net margin of 5.63%. The business had revenue of $225.49 million for the quarter, compared to the consensus estimate of $204.21 million. During the same quarter in the prior year, the company earned $0.22 EPS. On average, equities research analysts anticipate that Myers Industries will post 1.6 earnings per share for the current fiscal year.

Myers Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 5th. Investors of record on Friday, June 17th were given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date was Thursday, June 16th. Myers Industries’s payout ratio is currently 40.91%.

Institutional Investors Weigh In On Myers Industries

A number of institutional investors have recently added to or reduced their stakes in MYE. Fuller & Thaler Asset Management Inc. raised its stake in Myers Industries by 0.5% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 147,820 shares of the industrial products company’s stock valued at $2,958,000 after buying an additional 700 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Myers Industries by 2.5% in the first quarter. Great West Life Assurance Co. Can now owns 32,084 shares of the industrial products company’s stock worth $710,000 after purchasing an additional 787 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Myers Industries by 3.0% in the fourth quarter. SG Americas Securities LLC now owns 37,362 shares of the industrial products company’s stock worth $748,000 after purchasing an additional 1,099 shares during the last quarter. Captrust Financial Advisors raised its stake in shares of Myers Industries by 32.8% in the first quarter. Captrust Financial Advisors now owns 4,494 shares of the industrial products company’s stock worth $98,000 after purchasing an additional 1,109 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Myers Industries by 1.9% in the first quarter. Rhumbline Advisers now owns 98,848 shares of the industrial products company’s stock worth $2,135,000 after purchasing an additional 1,852 shares during the last quarter. Institutional investors own 92.02% of the company’s stock.

About Myers Industries

(Get Rating)

Myers Industries, Inc engages in distribution of tire service supplies in Ohio. It operates through The Material Handling and Distribution segments. The Material Handling segment offers pallets, small parts bins, bulk shipping containers, OEM parts, storage, organization, and custom plastic products; injection molded, rotationally molded or blow molded products, consumer fuel containers and tanks for water, fuel, and waste handling.

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