Myers Industries, Inc. (NYSE:MYE – Get Rating) – KeyCorp dropped their Q4 2022 EPS estimates for Myers Industries in a report released on Sunday, October 30th. KeyCorp analyst S. Barger now forecasts that the industrial products company will earn $0.31 per share for the quarter, down from their prior forecast of $0.32. The consensus estimate for Myers Industries’ current full-year earnings is $1.60 per share. KeyCorp also issued estimates for Myers Industries’ FY2024 earnings at $2.11 EPS.
Myers Industries (NYSE:MYE – Get Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The industrial products company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.40 by $0.05. The business had revenue of $233.16 million for the quarter, compared to the consensus estimate of $217.54 million. Myers Industries had a return on equity of 25.44% and a net margin of 6.10%.
Several other research firms have also recently issued reports on MYE. StockNews.com upgraded shares of Myers Industries from a “buy” rating to a “strong-buy” rating in a research report on Monday. Cowen lifted their target price on Myers Industries to $28.50 in a report on Tuesday, August 9th.
Myers Industries Stock Performance
NYSE:MYE opened at $20.29 on Tuesday. The stock has a 50-day moving average price of $18.12 and a 200 day moving average price of $21.08. The stock has a market capitalization of $740.59 million, a P/E ratio of 13.80 and a beta of 1.40. Myers Industries has a 12-month low of $15.82 and a 12-month high of $25.55. The company has a current ratio of 1.75, a quick ratio of 1.04 and a debt-to-equity ratio of 0.44.
Myers Industries Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 4th. Investors of record on Monday, December 5th will be given a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 2.66%. The ex-dividend date is Friday, December 2nd. Myers Industries’s dividend payout ratio is presently 36.73%.
Institutional Trading of Myers Industries
Several hedge funds have recently made changes to their positions in the business. Lazard Asset Management LLC purchased a new stake in Myers Industries during the second quarter valued at approximately $30,000. Whittier Trust Co. increased its position in shares of Myers Industries by 95.3% during the 3rd quarter. Whittier Trust Co. now owns 2,049 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 1,000 shares during the last quarter. Gladius Capital Management LP purchased a new stake in Myers Industries during the 2nd quarter valued at $53,000. Captrust Financial Advisors lifted its position in Myers Industries by 32.8% in the first quarter. Captrust Financial Advisors now owns 4,494 shares of the industrial products company’s stock worth $98,000 after buying an additional 1,109 shares during the last quarter. Finally, US Bancorp DE boosted its stake in Myers Industries by 192.2% during the second quarter. US Bancorp DE now owns 4,561 shares of the industrial products company’s stock worth $104,000 after buying an additional 3,000 shares during the period. 91.64% of the stock is currently owned by hedge funds and other institutional investors.
About Myers Industries
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.
Further Reading
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