Myers Industries (NYSE:MYE) Raised to Hold at StockNews.com

Myers Industries (NYSE:MYE) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Thursday.

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

Myers Industries Stock Performance

MYE opened at $10.65 on Thursday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.11 and a current ratio of 1.80. The business’s 50-day simple moving average is $11.58 and its 200 day simple moving average is $12.99. The firm has a market capitalization of $396.82 million, a PE ratio of 25.36 and a beta of 1.22. Myers Industries has a 52-week low of $10.35 and a 52-week high of $23.63.

Myers Industries (NYSE:MYE) last issued its earnings results on Monday, November 4th. The industrial products company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.04). The firm had revenue of $205.07 million for the quarter. Myers Industries had a return on equity of 14.75% and a net margin of 1.88%. During the same quarter last year, the firm posted $0.38 EPS. As a group, sell-side analysts expect that Myers Industries will post 0.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Myers Industries

In other news, CEO Dave Basque bought 5,000 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was bought at an average price of $12.41 per share, with a total value of $62,050.00. Following the completion of the acquisition, the chief executive officer now owns 39,152 shares of the company’s stock, valued at $485,876.32. This represents a 14.64 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have purchased a total of 19,500 shares of company stock valued at $232,575 in the last three months. 1.40% of the stock is currently owned by company insiders.

Institutional Trading of Myers Industries

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its position in shares of Myers Industries by 0.3% in the second 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 period. Gabelli Funds LLC increased its holdings in Myers Industries by 3.9% in the 2nd quarter. Gabelli Funds LLC now owns 1,572,250 shares of the industrial products company’s stock valued at $21,037,000 after buying an additional 58,500 shares during the period. Renaissance Technologies LLC raised its position in shares of Myers Industries by 8.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,480,597 shares of the industrial products company’s stock valued at $19,810,000 after buying an additional 113,100 shares in the last quarter. State Street Corp lifted its holdings in shares of Myers Industries by 2.6% during the 3rd quarter. State Street Corp now owns 1,374,246 shares of the industrial products company’s stock worth $19,176,000 after acquiring an additional 35,456 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of Myers Industries by 1.1% during the 3rd quarter. Victory Capital Management Inc. now owns 1,034,125 shares of the industrial products company’s stock worth $14,292,000 after acquiring an additional 11,434 shares in 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.