Myers Industries (NYSE:MYE - Get Free Report) was downgraded by KeyCorp from an "overweight" rating to a "sector weight" rating in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports.
Myers Industries Price Performance
MYE stock traded up $0.82 during trading on Wednesday, hitting $12.21. 673,518 shares of the company's stock traded hands, compared to its average volume of 179,315. The business has a fifty day simple moving average of $13.33 and a 200 day simple moving average of $14.83. Myers Industries has a 52 week low of $10.77 and a 52 week high of $23.63. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.16 and a current ratio of 1.81. The stock has a market capitalization of $454.48 million, a price-to-earnings ratio of 29.07 and a beta of 1.23.
Myers Industries (NYSE:MYE - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The industrial products company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.04). The firm had revenue of $205.07 million for the quarter. Myers Industries had a net margin of 1.88% and a return on equity of 14.53%. During the same quarter in the previous year, the company posted $0.38 EPS. As a group, research analysts expect that Myers Industries will post 1.13 EPS for the current fiscal year.
Hedge Funds Weigh In On Myers Industries
Large investors have recently modified their holdings of the stock. nVerses Capital LLC purchased a new position in Myers Industries in the second quarter valued at about $25,000. DekaBank Deutsche Girozentrale acquired a new position in Myers Industries during the 1st quarter worth approximately $91,000. Covestor Ltd lifted its stake in Myers Industries by 712,200.0% in the first quarter. Covestor Ltd now owns 7,123 shares of the industrial products company's stock valued at $165,000 after acquiring an additional 7,122 shares during the last quarter. Gallacher Capital Management LLC bought a new position in Myers Industries in the 2nd quarter valued at about $186,000. Finally, Metis Global Partners LLC acquired a new stake in Myers Industries during the third quarter worth approximately $192,000. Institutional investors own 90.82% of the company's stock.
Myers Industries Company Profile
(
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Myers Industries, Inc engages in distribution of tire service supplies in Ohio. It operates through two segments, The Material Handling and Distribution. The Material Handling segment offers pallets, small parts bins, bulk shipping containers, and OEM parts, as well as storage and organization, and custom plastic products; and injection molded, rotationally molded or blow molded products, consumer fuel containers and tanks for water, fuel, and waste handling.
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