Myers Industries (NYSE:MYE - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "sell" rating to a "hold" rating in a research note issued to investors on Thursday.
Separately, KeyCorp cut shares of Myers Industries from an "overweight" rating to a "sector weight" rating in a research note on Wednesday, November 6th.
Check Out Our Latest Report on Myers Industries
Myers Industries Stock Performance
Shares of NYSE MYE traded down $0.18 during midday trading on Thursday, reaching $10.76. 161,610 shares of the company were exchanged, compared to its average volume of 312,062. The stock has a market cap of $400.92 million, a P/E ratio of 25.62 and a beta of 1.22. Myers Industries has a 1 year low of $10.35 and a 1 year high of $23.63. The stock has a fifty day simple moving average of $11.58 and a 200 day simple moving average of $12.99. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 1.36.
Myers Industries (NYSE:MYE - Get Free Report) last released its earnings results on Monday, November 4th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.29 by ($0.04). Myers Industries had a net margin of 1.88% and a return on equity of 14.75%. The company had revenue of $205.07 million during the quarter. During the same quarter in the prior year, the firm posted $0.38 earnings per share. On average, research analysts forecast that Myers Industries will post 0.95 earnings per share for the current fiscal year.
Insider Activity at Myers Industries
In related news, CEO Dave Basque acquired 5,000 shares of Myers Industries stock in a transaction that occurred on Thursday, December 5th. The stock was purchased at an average price of $12.13 per share, for a total transaction of $60,650.00. Following the completion of the purchase, the chief executive officer now directly owns 34,152 shares of the company's stock, valued at approximately $414,263.76. This trade represents a 17.15 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have acquired a total of 19,500 shares of company stock worth $232,575 over the last three months. 1.40% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. Point72 DIFC Ltd acquired a new position in shares of Myers Industries during the 3rd quarter worth $28,000. nVerses Capital LLC raised its position in Myers Industries by 57.9% during the third quarter. nVerses Capital LLC now owns 3,000 shares of the industrial products company's stock worth $41,000 after acquiring an additional 1,100 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Myers Industries in the third quarter valued at about $72,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Myers Industries in the third quarter valued at approximately $85,000. Finally, Quest Partners LLC acquired a new stake in shares of Myers Industries in the third quarter valued at approximately $150,000. 90.82% of the stock is owned by hedge funds and other institutional investors.
Myers Industries Company Profile
(
Get Free Report)
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.
Further Reading
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