Myers Industries (NYSE:MYE) Cut to “Sell” at StockNews.com

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

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

Myers Industries Trading Up 1.5 %

NYSE:MYE opened at $11.78 on Friday. The firm has a 50-day simple moving average of $11.51 and a 200-day simple moving average of $12.89. Myers Industries has a one year low of $10.35 and a one year high of $23.63. The firm has a market cap of $438.74 million, a P/E ratio of 28.04 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 the consensus estimate of $0.29 by ($0.04). The business had revenue of $205.07 million for the quarter. Myers Industries had a net margin of 1.88% and a return on equity of 14.75%. During the same period in the previous year, the company posted $0.38 EPS. Equities analysts anticipate that Myers Industries will post 0.95 EPS for the current fiscal year.

Myers Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Tuesday, December 3rd were given a dividend of $0.135 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $0.54 annualized dividend and a yield of 4.59%. Myers Industries’s dividend payout ratio is presently 128.57%.

Insiders Place Their Bets

In other Myers Industries news, CEO Dave Basque bought 5,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was acquired at an average price of $11.33 per share, with a total value of $56,650.00. Following the completion of the acquisition, the chief executive officer now directly owns 29,152 shares of the company’s stock, valued at $330,292.16. This represents a 20.70 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have acquired 19,500 shares of company stock worth $232,575. 1.40% of the stock is owned by corporate insiders.

Institutional Trading of Myers Industries

Several large investors have recently bought and sold shares of MYE. Point72 DIFC Ltd purchased a new stake in Myers Industries in the 3rd quarter valued at $28,000. nVerses Capital LLC boosted its position in shares of Myers Industries by 57.9% during the 3rd quarter. nVerses Capital LLC now owns 3,000 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 1,100 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Myers Industries in the third quarter valued at about $72,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Myers Industries during the third quarter worth about $85,000. Finally, Quest Partners LLC acquired a new stake in Myers Industries during the third quarter worth about $150,000. Hedge funds and other institutional investors 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.