Myers Industries (NYSE:MYE) Lowered to Sell Rating by StockNews.com

StockNews.com lowered shares of Myers Industries (NYSE:MYE) from a hold rating to a sell rating in a research note published on Friday morning.

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

Myers Industries Trading Down 3.1 %

MYE opened at $11.08 on Friday. Myers Industries has a one year low of $10.35 and a one year high of $23.63. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.80 and a quick ratio of 1.11. The business has a 50 day simple moving average of $11.84 and a two-hundred day simple moving average of $13.21. The firm has a market capitalization of $412.84 million, a price-to-earnings ratio of 26.38 and a beta of 1.22.

Myers Industries (NYSE:MYE) last announced its quarterly earnings results on Monday, November 4th. The industrial products company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.04). Myers Industries had a return on equity of 14.75% and a net margin of 1.88%. The business had revenue of $205.07 million during the quarter. During the same period last year, the firm earned $0.38 earnings per share. Analysts predict that Myers Industries will post 0.95 EPS for the current year.

Myers Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 4.87%. The ex-dividend date is Tuesday, December 3rd. Myers Industries’s payout ratio is 128.57%.

Insider Transactions at Myers Industries

In other news, CEO Dave Basque purchased 5,000 shares of Myers Industries stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 39,152 shares of the company’s stock, valued at approximately $485,876.32. The trade was a 14.64 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have purchased 19,500 shares of company stock valued at $232,575. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. GSA Capital Partners LLP purchased a new stake in shares of Myers Industries during the third quarter valued at $246,000. Victory Capital Management Inc. bought a new stake in shares of Myers Industries in the second quarter worth approximately $13,684,000. Intech Investment Management LLC purchased a new position in shares of Myers Industries during the third quarter valued at approximately $972,000. American Century Companies Inc. lifted its position in Myers Industries by 12.3% during the second quarter. American Century Companies Inc. now owns 556,131 shares of the industrial products company’s stock valued at $7,441,000 after purchasing an additional 60,935 shares during the period. Finally, ClariVest Asset Management LLC boosted its holdings in Myers Industries by 60.0% in the second quarter. ClariVest Asset Management LLC now owns 200,266 shares of the industrial products company’s stock worth $2,680,000 after purchasing an additional 75,108 shares during the last quarter. Hedge funds and other institutional investors own 90.82% of the company’s stock.

About Myers Industries

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.