Myers Industries, Inc. (NYSE:MYE - Get Free Report) crossed 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 trading hands.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the company. Wall Street Zen raised Myers Industries from a "hold" rating to a "buy" rating in a report on Sunday, June 22nd. KeyCorp raised Myers Industries from a "sector weight" rating to an "overweight" rating and set a $21.00 price objective on the stock in a report on Friday, June 13th.
Read Our Latest Stock Report on Myers Industries
Myers Industries Price Performance
The business has a fifty day moving average of $14.24 and a 200-day moving average of $12.42. The firm has a market cap of $567.47 million, a PE ratio of 54.22 and a beta of 1.14. The company has a current ratio of 1.78, a quick ratio of 1.14 and a debt-to-equity ratio of 1.34.
Myers Industries (NYSE:MYE - Get Free Report) last announced its earnings results on Thursday, May 1st. The industrial products company reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.19 by $0.03. The business had revenue of $206.75 million for the quarter, compared to analyst estimates of $206.80 million. Myers Industries had a return on equity of 14.02% and a net margin of 1.26%. As a group, research analysts predict that Myers Industries, Inc. will post 0.95 earnings per share for the current year.
Myers Industries Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 18th were paid a $0.135 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.54 dividend on an annualized basis and a yield of 3.56%. Myers Industries's dividend payout ratio is currently 192.86%.
Hedge Funds Weigh In On Myers Industries
A number of institutional investors have recently added to or reduced their stakes in MYE. Gamco Investors INC. ET AL increased its position in shares of Myers Industries by 2.9% during the 1st quarter. Gamco Investors INC. ET AL now owns 3,482,902 shares of the industrial products company's stock valued at $41,551,000 after purchasing an additional 99,417 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Myers Industries by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 2,684,971 shares of the industrial products company's stock valued at $32,032,000 after purchasing an additional 82,223 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Myers Industries by 3.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,239,166 shares of the industrial products company's stock valued at $33,699,000 after purchasing an additional 68,111 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Myers Industries by 11.8% during the 4th quarter. Renaissance Technologies LLC now owns 1,586,991 shares of the industrial products company's stock valued at $17,520,000 after purchasing an additional 167,894 shares during the last quarter. Finally, Gabelli Funds LLC increased its position in shares of Myers Industries by 0.8% during the 1st quarter. Gabelli Funds LLC now owns 1,575,150 shares of the industrial products company's stock valued at $18,792,000 after purchasing an additional 12,000 shares during the last quarter. 90.82% of the stock is currently owned by institutional investors.
Myers Industries Company Profile
(
Get Free Report)
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.
Further Reading
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