Myers Industries (NYSE:MYE) Given New $27.00 Price Target at KeyCorp

Myers Industries (NYSE:MYE) had its target price lowered by KeyCorp from $30.00 to $27.00 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

Separately, StockNews.com downgraded shares of Myers Industries from a buy rating to a hold rating in a research report on Thursday, May 16th.

Myers Industries Trading Down 7.4 %

Shares of Myers Industries stock traded down $1.15 on Friday, hitting $14.39. The stock had a trading volume of 369,461 shares, compared to its average volume of 238,623. The stock has a 50 day moving average of $14.46 and a 200 day moving average of $18.10. Myers Industries has a twelve month low of $12.47 and a twelve month high of $23.63. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.10 and a current ratio of 1.81. The firm has a market capitalization of $535.02 million, a P/E ratio of 13.58 and a beta of 1.21.

Myers Industries (NYSE:MYE) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.39 earnings per share (EPS) for the quarter. The company had revenue of $220.24 million during the quarter. Myers Industries had a return on equity of 16.27% and a net margin of 4.79%. During the same period in the prior year, the company earned $0.35 EPS.

Myers Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Tuesday, June 18th were given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend was Tuesday, June 18th. Myers Industries’s dividend payout ratio (DPR) is 50.94%.

Hedge Funds Weigh In On Myers Industries

A number of large investors have recently modified their holdings of the company. Gamco Investors INC. ET AL lifted its holdings in shares of Myers Industries by 0.7% in the 1st quarter. Gamco Investors INC. ET AL now owns 3,193,054 shares of the industrial products company’s stock worth $73,983,000 after purchasing an additional 21,724 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Myers Industries by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 2,846,620 shares of the industrial products company’s stock worth $65,956,000 after buying an additional 182,215 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Myers Industries by 3.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,603,575 shares of the industrial products company’s stock worth $31,350,000 after buying an additional 48,459 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Myers Industries by 5.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 487,725 shares of the industrial products company’s stock worth $9,535,000 after buying an additional 23,882 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Myers Industries by 9.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 306,175 shares of the industrial products company’s stock valued at $7,094,000 after acquiring an additional 26,504 shares during the period. 90.82% of the stock is currently owned by institutional investors.

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.