Shares of Myers Industries Inc. (NYSE:MYE) have been given an average broker rating score of 3.00 (Hold) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold recommendation.
Zacks has also assigned Myers Industries an industry rank of 228 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research downgraded Myers Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th.
Myers Industries (NYSE:MYE) traded down 1.15% during mid-day trading on Tuesday, reaching $12.88. 12,585 shares of the company traded hands. The stock has a market capitalization of $385.05 million, a price-to-earnings ratio of 121.51 and a beta of 1.49. Myers Industries has a 12-month low of $10.12 and a 12-month high of $15.86. The company’s 50-day moving average is $13.93 and its 200-day moving average is $13.97.
Myers Industries (NYSE:MYE) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.02. Myers Industries had a net margin of 0.45% and a return on equity of 16.92%. The company earned $144.10 million during the quarter, compared to the consensus estimate of $152.90 million. During the same quarter in the previous year, the firm posted $0.30 EPS. The business’s revenue for the quarter was down 12.3% compared to the same quarter last year. Equities analysts predict that Myers Industries will post $0.56 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd will be given a $0.135 dividend. The ex-dividend date is Wednesday, August 31st. This represents a $0.54 annualized dividend and a yield of 4.14%. Myers Industries’s payout ratio is currently 600.00%.
In related news, Director Jane Scaccetti acquired 2,000 shares of the stock in a transaction on Tuesday, August 16th. The stock was purchased at an average price of $14.64 per share, for a total transaction of $29,280.00. Following the completion of the transaction, the director now owns 4,800 shares of the company’s stock, valued at approximately $70,272. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.29% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Alliancebernstein L.P. increased its position in shares of Myers Industries by 0.8% in the second quarter. Alliancebernstein L.P. now owns 26,280 shares of the company’s stock worth $378,000 after buying an additional 200 shares in the last quarter. Arizona State Retirement System increased its position in shares of Myers Industries by 2.7% in the first quarter. Arizona State Retirement System now owns 11,386 shares of the company’s stock worth $146,000 after buying an additional 300 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Myers Industries by 1.9% in the first quarter. Prudential Financial Inc. now owns 60,437 shares of the company’s stock worth $777,000 after buying an additional 1,100 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Myers Industries by 3.4% in the first quarter. Renaissance Technologies LLC now owns 33,500 shares of the company’s stock worth $431,000 after buying an additional 1,100 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Myers Industries by 1.0% in the second quarter. Principal Financial Group Inc. now owns 154,423 shares of the company’s stock worth $2,224,000 after buying an additional 1,487 shares in the last quarter. Institutional investors own 83.62% of the company’s stock.
Myers Industries Company Profile
Myers Industries, Inc is an international manufacturing and distribution company. The Company operates through two segments: Material Handling, which designs, manufactures and markets a range of plastic and metal products, and Distribution, which is engaged in the distribution of equipment, tools and supplies used for tire servicing and automotive undervehicle repair and the manufacture of tire repair and retreading products.
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