Myers Industries (NYSE:MYE) Sets New 12-Month High – Here’s What Happened

Shares of Myers Industries, Inc. (NYSE:MYE) hit a new 52-week high during trading on Monday . The stock traded as high as $27.75 and last traded at $27.5010, with a volume of 442 shares. The stock had previously closed at $27.10.

Analyst Upgrades and Downgrades

Several analysts recently commented on MYE shares. Wall Street Zen downgraded shares of Myers Industries from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings downgraded shares of Myers Industries from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold”.

Myers Industries Stock Up 0.0%

The firm has a market cap of $1.01 billion, a P/E ratio of 38.36 and a beta of 0.98. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.29 and a current ratio of 1.65. The firm’s fifty day moving average is $22.62 and its 200 day moving average is $21.21.

Myers Industries (NYSE:MYE) last announced its earnings results on Thursday, May 7th. The industrial products company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.28 by $0.16. The business had revenue of $164.58 million during the quarter, compared to the consensus estimate of $209.30 million. Myers Industries had a net margin of 3.36% and a return on equity of 17.23%.

Myers Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Wednesday, June 17th will be issued a $0.135 dividend. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $0.54 dividend on an annualized basis and a yield of 2.0%. Myers Industries’s payout ratio is currently 77.14%.

Institutional Trading of Myers Industries

Institutional investors have recently bought and sold shares of the business. Pzena Investment Management LLC increased its position in shares of Myers Industries by 813.5% in the fourth quarter. Pzena Investment Management LLC now owns 1,302,309 shares of the industrial products company’s stock worth $24,379,000 after purchasing an additional 1,159,746 shares during the period. Advisory Research Inc. raised its stake in Myers Industries by 84.5% in the fourth quarter. Advisory Research Inc. now owns 1,302,928 shares of the industrial products company’s stock valued at $24,391,000 after purchasing an additional 596,848 shares in the last quarter. Teton Advisors LLC acquired a new position in Myers Industries in the third quarter valued at about $5,184,000. Capital World Investors acquired a new position in Myers Industries in the fourth quarter valued at about $5,671,000. Finally, Simcoe Capital Management LLC acquired a new position in Myers Industries in the third quarter valued at about $4,120,000. Institutional investors own 90.82% of the company’s stock.

Myers Industries Company Profile

Myers Industries, Inc is a diversified manufacturer of polymer products serving industrial, commercial and consumer markets. The company designs, produces and markets a broad range of molded and fabricated plastic components, including pallets, bulk containers, tanks and drums used in material handling and storage applications. Myers Industries leverages proprietary polymer technologies to provide durable, reusable solutions that help customers optimize supply chain efficiency and reduce environmental impact.

Myers operates primarily through two business segments.