Myers Industries, Inc. (NYSE:MYE – Get Rating) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $20.46 and traded as high as $22.67. Myers Industries shares last traded at $22.64, with a volume of 156,808 shares changing hands.
Separately, StockNews.com raised shares of Myers Industries from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 28th.
The firm has a market capitalization of $822.83 million, a PE ratio of 19.03 and a beta of 1.35. The stock’s 50 day simple moving average is $23.14 and its two-hundred day simple moving average is $20.46. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.04 and a current ratio of 1.71.
Myers Industries (NYSE:MYE – Get Rating) last posted its quarterly earnings results on Thursday, May 5th. The industrial products company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.28 by $0.22. The firm had revenue of $225.49 million during the quarter, compared to analysts’ expectations of $204.21 million. Myers Industries had a return on equity of 21.67% and a net margin of 5.36%. During the same quarter last year, the firm earned $0.22 earnings per share. Equities research analysts expect that Myers Industries, Inc. will post 1.62 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 5th. Stockholders of record on Friday, June 17th were issued a dividend of $0.135 per share. The ex-dividend date was Thursday, June 16th. This represents a $0.54 annualized dividend and a dividend yield of 2.39%. Myers Industries’s dividend payout ratio is presently 45.38%.
Hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. grew its stake in shares of Myers Industries by 17.0% in the 4th quarter. Victory Capital Management Inc. now owns 305,460 shares of the industrial products company’s stock valued at $6,112,000 after buying an additional 44,398 shares during the period. Assenagon Asset Management S.A. acquired a new position in Myers Industries in the fourth quarter valued at approximately $2,520,000. Cubist Systematic Strategies LLC purchased a new position in Myers Industries in the third quarter worth approximately $297,000. Gamco Investors INC. ET AL increased its stake in Myers Industries by 0.8% during the fourth quarter. Gamco Investors INC. ET AL now owns 3,250,696 shares of the industrial products company’s stock worth $65,046,000 after acquiring an additional 26,210 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Myers Industries in the fourth quarter valued at $41,447,000. 92.02% of the stock is currently owned by institutional investors.
Myers Industries Company Profile (NYSE:MYE)
Myers Industries, Inc engages in distribution of tire service supplies in Ohio. It operates through The Material Handling and Distribution segments. The Material Handling segment offers pallets, small parts bins, bulk shipping containers, OEM parts, storage, organization, and custom plastic products; injection molded, rotationally molded or blow molded products, consumer fuel containers and tanks for water, fuel, and waste handling.
Featured Stories
Receive News & Ratings for Myers Industries Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Myers Industries and related companies with MarketBeat.com’s FREE daily email newsletter.
