Myers Industries, Inc. (NYSE:MYE) has been assigned a consensus rating of “Hold” from the seven analysts that are covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $21.50.
A number of research firms have recently commented on MYE. ValuEngine cut Myers Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. Zacks Investment Research upgraded Myers Industries from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 9th.
Large investors have recently made changes to their positions in the business. Quantamental Technologies LLC purchased a new position in Myers Industries during the fourth quarter valued at $30,000. Simplex Trading LLC purchased a new position in Myers Industries during the fourth quarter valued at $70,000. Paloma Partners Management Co purchased a new position in Myers Industries during the fourth quarter valued at $169,000. Metropolitan Life Insurance Co. NY raised its stake in Myers Industries by 397.9% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 11,303 shares of the industrial products company’s stock valued at $171,000 after buying an additional 9,033 shares during the last quarter. Finally, AQR Capital Management LLC purchased a new position in shares of Myers Industries in the third quarter worth $311,000. Institutional investors and hedge funds own 90.16% of the company’s stock.
Shares of MYE traded up $0.02 on Friday, reaching $18.38. The stock had a trading volume of 49,676 shares, compared to its average volume of 95,742. The stock has a market cap of $650.43 million, a PE ratio of 24.18 and a beta of 1.70. The company has a quick ratio of 1.43, a current ratio of 1.88 and a debt-to-equity ratio of 0.50. Myers Industries has a 12-month low of $14.24 and a 12-month high of $25.70.
Myers Industries (NYSE:MYE) last released its earnings results on Thursday, February 28th. The industrial products company reported $0.13 EPS for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.06. The company had revenue of $138.39 million during the quarter, compared to analysts’ expectations of $129.42 million. Myers Industries had a positive return on equity of 17.92% and a negative net margin of 0.59%. Equities analysts anticipate that Myers Industries will post 0.8 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Wednesday, March 20th were paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend was Tuesday, March 19th. Myers Industries’s payout ratio is 71.05%.
About Myers Industries
Myers Industries, Inc manufactures and sells polymer products for industrial, agricultural, automotive, commercial, and consumer markets worldwide. The company's Material Handling segment provides plastic reusable material handling containers, pallets, small parts bins, bulk shipping containers, storage and organization products, and rotationally-molded plastic tanks for water, fuel, and waste handling applications; welded steel service carts, platform trucks, mobile work centers, racks, and cabinets; plastic trim and interior parts used in the production of seat components, consoles, and other applications in the recreational vehicle, marine, and industrial markets; and plastic fuel containers, portable marine fuel tanks and water containers, ammunition containers, and storage totes under the Buckhorn, Akro-Mils, Jamco Products, Ameri-Kart, and Scepter brands.
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