Myers Industries (NYSE:MYE) Shares Pass Above 200 Day Moving Average - Should You Sell?

Myers Industries, Inc. (NYSE:MYE - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.28 and traded as high as $15.12. Myers Industries shares last traded at $15.01, with a volume of 226,493 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. KeyCorp raised shares of Myers Industries from a "sector weight" rating to an "overweight" rating and set a $21.00 price objective for the company in a research note on Friday, June 13th. Wall Street Zen upgraded Myers Industries from a "hold" rating to a "buy" rating in a research note on Sunday, June 22nd.

Myers Industries Trading Up 3.5%

The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.14 and a current ratio of 1.78. The firm has a market capitalization of $560.95 million, a price-to-earnings ratio of 53.59 and a beta of 1.14. The business has a fifty day moving average price of $14.08 and a 200 day moving average price of $12.33.

Myers Industries (NYSE:MYE - Get Free Report) last released its earnings results on Thursday, May 1st. The industrial products company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.19 by $0.03. The company had revenue of $206.75 million during the quarter, compared to analysts' expectations of $206.80 million. Myers Industries had a return on equity of 14.02% and a net margin of 1.26%. As a group, equities analysts forecast that Myers Industries, Inc. will post 0.95 earnings per share for the current year.

Myers Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 18th were given a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 3.60%. The ex-dividend date was Wednesday, June 18th. Myers Industries's payout ratio is currently 192.86%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in Myers Industries by 586.6% during the 1st quarter. GAMMA Investing LLC now owns 2,609 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 2,229 shares in the last quarter. CWM LLC lifted its holdings in Myers Industries by 829.7% during the 1st quarter. CWM LLC now owns 4,695 shares of the industrial products company's stock worth $56,000 after buying an additional 4,190 shares in the last quarter. Aquatic Capital Management LLC boosted its position in Myers Industries by 103.1% in the 4th quarter. Aquatic Capital Management LLC now owns 5,484 shares of the industrial products company's stock valued at $61,000 after buying an additional 2,784 shares during the last quarter. Ieq Capital LLC acquired a new stake in shares of Myers Industries in the 1st quarter valued at $119,000. Finally, ProShare Advisors LLC bought a new stake in shares of Myers Industries during the fourth quarter worth $114,000. 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.

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