According to Zacks, “Myers Industries, Inc. is an international manufacturer of polymer products for industrial, agricultural, automotive, commercial, and consumer markets. The Company is also the largest wholesale distributor of tools, equipment, and supplies for the tire service and undervehicle repair industry in the United States. “
Shares of MYE opened at $15.64 on Friday. The company has a market cap of $573.42 million, a P/E ratio of 20.58 and a beta of 1.63. The stock’s fifty day moving average is $18.09. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.61 and a current ratio of 2.26. Myers Industries has a 12 month low of $14.24 and a 12 month high of $25.70.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.135 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.54 dividend on an annualized basis and a yield of 3.45%. Myers Industries’s payout ratio is currently 71.05%.
Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank bought a new position in shares of Myers Industries in the fourth quarter worth $10,933,000. Geode Capital Management LLC grew its stake in shares of Myers Industries by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 621,331 shares of the industrial products company’s stock worth $9,388,000 after purchasing an additional 33,596 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Myers Industries by 2.2% in the fourth quarter. Bank of New York Mellon Corp now owns 553,864 shares of the industrial products company’s stock worth $8,369,000 after purchasing an additional 12,171 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Myers Industries by 3.1% in the fourth quarter. Principal Financial Group Inc. now owns 297,950 shares of the industrial products company’s stock worth $4,502,000 after purchasing an additional 8,917 shares in the last quarter. Finally, Federated Investors Inc. PA grew its stake in shares of Myers Industries by 11.5% in the first quarter. Federated Investors Inc. PA now owns 283,204 shares of the industrial products company’s stock worth $4,845,000 after purchasing an additional 29,136 shares in the last quarter. Hedge funds and other institutional investors own 86.93% of the company’s stock.
Myers Industries Company Profile
Myers Industries, Inc manufactures and sells polymer products for industrial, agricultural, automotive, commercial, and consumer markets worldwide. The company's Material Handling segment provides plastic reusable material handling containers, pallets, small parts bins, bulk shipping containers, storage and organization products, and rotationally-molded plastic tanks for water, fuel, and waste handling applications; welded steel service carts, platform trucks, mobile work centers, racks, and cabinets; plastic trim and interior parts used in the production of seat components, consoles, and other applications in the recreational vehicle, marine, and industrial markets; and plastic fuel containers, portable marine fuel tanks and water containers, ammunition containers, and storage totes under the Buckhorn, Akro-Mils, Jamco Products, Ameri-Kart, and Scepter brands.
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