Zacks Investment Research lowered shares of Myers Industries, Inc. (NYSE:MYE) from a buy rating to a hold rating in a report released on Wednesday morning.

According to Zacks, “Myers Industries, Inc. is an international manufacturer of polymer products for industrial, agricultural, automotive, commercial, and consumer markets. The Company is also the largest wholesale distributor of tools, equipment, and supplies for the tire service and undervehicle repair industry in the United States. “

MYE has been the topic of a number of other reports. BidaskClub lowered shares of Myers Industries from a hold rating to a sell rating in a research note on Monday, July 31st. KeyCorp reaffirmed a sell rating on shares of Myers Industries in a research note on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $16.50.

Shares of Myers Industries (MYE) traded up 0.23% during trading on Wednesday, hitting $22.10. 66,247 shares of the stock were exchanged. The firm’s 50 day moving average price is $19.34 and its 200-day moving average price is $17.75. Myers Industries has a 52 week low of $11.35 and a 52 week high of $22.45. The stock has a market cap of $668.64 million, a P/E ratio of 166.17 and a beta of 1.78.

Myers Industries (NYSE:MYE) last posted its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.17 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.02. Myers Industries had a net margin of 0.74% and a return on equity of 10.71%. The company had revenue of $142.30 million for the quarter, compared to analyst estimates of $142.95 million. During the same period in the prior year, the firm posted $0.21 EPS. The company’s quarterly revenue was down 1.2% on a year-over-year basis. On average, analysts predict that Myers Industries will post $0.50 EPS for the current year.

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The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Stockholders of record on Friday, September 8th were paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date was Thursday, September 7th. Myers Industries’s dividend payout ratio is currently 415.38%.

Several large investors have recently bought and sold shares of the company. Arizona State Retirement System boosted its stake in shares of Myers Industries by 0.9% in the 1st quarter. Arizona State Retirement System now owns 11,386 shares of the industrial products company’s stock valued at $180,000 after purchasing an additional 100 shares during the last quarter. Texas Permanent School Fund boosted its stake in shares of Myers Industries by 1.4% in the 2nd quarter. Texas Permanent School Fund now owns 16,031 shares of the industrial products company’s stock valued at $288,000 after purchasing an additional 216 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Myers Industries by 0.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 115,911 shares of the industrial products company’s stock valued at $2,080,000 after purchasing an additional 362 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Myers Industries by 0.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 88,832 shares of the industrial products company’s stock valued at $1,595,000 after purchasing an additional 513 shares during the last quarter. Finally, North Star Investment Management Corp. boosted its stake in shares of Myers Industries by 0.4% in the 2nd quarter. North Star Investment Management Corp. now owns 157,116 shares of the industrial products company’s stock valued at $2,820,000 after purchasing an additional 654 shares during the last quarter. 84.39% of the stock is currently owned by institutional investors.

About Myers Industries

Myers Industries, Inc is an international manufacturing and distribution company. The Company operates through two segments: Material Handling and Distribution. As of December 31, 2016, the Company operated 15 manufacturing facilities, 20 sales offices, four distribution centers and three distribution branches located throughout North, Central and South America.

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