Shares of Myers Industries, Inc. (NYSE:MYE) have earned an average recommendation of “Hold” from the eight brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $22.33.

MYE has been the subject of a number of research analyst reports. TheStreet downgraded shares of Myers Industries from a “b” rating to a “c-” rating in a report on Thursday, November 8th. ValuEngine downgraded shares of Myers Industries from a “hold” rating to a “sell” rating in a report on Saturday, October 6th. Cowen initiated coverage on shares of Myers Industries in a report on Friday, September 28th. They set a “market perform” rating for the company. KeyCorp reaffirmed a “sector weight” rating on shares of Myers Industries in a report on Tuesday, August 28th. Finally, Zacks Investment Research raised shares of Myers Industries from a “hold” rating to a “strong-buy” rating and set a $27.00 price objective for the company in a report on Wednesday, September 12th.

A number of large investors have recently modified their holdings of MYE. BlackRock Inc. raised its position in Myers Industries by 27.1% in the 3rd quarter. BlackRock Inc. now owns 5,079,461 shares of the industrial products company’s stock worth $118,098,000 after purchasing an additional 1,083,340 shares during the period. Gabelli Funds LLC increased its position in shares of Myers Industries by 26.1% in the second quarter. Gabelli Funds LLC now owns 1,860,676 shares of the industrial products company’s stock valued at $35,725,000 after acquiring an additional 385,200 shares during the period. Teton Advisors Inc. increased its position in shares of Myers Industries by 57.4% in the second quarter. Teton Advisors Inc. now owns 1,027,900 shares of the industrial products company’s stock valued at $19,736,000 after acquiring an additional 374,836 shares during the period. Renaissance Technologies LLC increased its position in shares of Myers Industries by 47.9% in the second quarter. Renaissance Technologies LLC now owns 741,500 shares of the industrial products company’s stock valued at $14,237,000 after acquiring an additional 240,100 shares during the period. Finally, Citadel Advisors LLC purchased a new position in shares of Myers Industries in the second quarter valued at about $3,784,000. Institutional investors own 88.45% of the company’s stock.

NYSE MYE opened at $16.23 on Friday. Myers Industries has a 52-week low of $15.25 and a 52-week high of $25.70. The company has a quick ratio of 1.46, a current ratio of 1.97 and a debt-to-equity ratio of 0.48. The firm has a market cap of $569.53 million, a PE ratio of 31.82 and a beta of 1.98.

Myers Industries (NYSE:MYE) last posted its quarterly earnings data on Tuesday, November 6th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.15. Myers Industries had a negative net margin of 4.21% and a positive return on equity of 18.40%. The company had revenue of $135.22 million during the quarter, compared to the consensus estimate of $135.08 million. During the same period in the previous year, the firm posted $0.11 EPS. The firm’s revenue was up .1% compared to the same quarter last year. On average, equities analysts expect that Myers Industries will post 0.72 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 3rd. Investors of record on Friday, December 7th will be given a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Thursday, December 6th. Myers Industries’s payout ratio is presently 105.88%.

Myers Industries Company Profile

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.

Further Reading: How are Outstanding Shares Different from Authorized Shares?

Analyst Recommendations for Myers Industries (NYSE:MYE)

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