Myers Industries (NYSE:MYE) Reaches New 1-Year Low at $14.28

Myers Industries, Inc. (NYSE:MYE) shares hit a new 52-week low on Thursday . The stock traded as low as $14.28 and last traded at $14.43, with a volume of 10152 shares trading hands. The stock had previously closed at $14.41.

Wall Street Analysts Forecast Growth

MYE has been the subject of several research analyst reports. KeyCorp lifted their target price on shares of Myers Industries from $22.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. StockNews.com downgraded Myers Industries from a “buy” rating to a “hold” rating in a report on Thursday, May 16th.

Myers Industries Price Performance

The company has a quick ratio of 1.10, a current ratio of 1.75 and a debt-to-equity ratio of 1.34. The company’s fifty day moving average price is $17.73 and its 200 day moving average price is $19.17. The company has a market capitalization of $521.26 million, a P/E ratio of 13.23 and a beta of 1.25.

Myers Industries (NYSE:MYE) last posted its quarterly earnings data on Tuesday, May 7th. The industrial products company reported $0.21 EPS for the quarter. The firm had revenue of $207.10 million for the quarter. Myers Industries had a return on equity of 15.99% and a net margin of 4.90%. As a group, sell-side analysts forecast that Myers Industries, Inc. will post 1.38 EPS for the current year.

Myers Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Tuesday, June 18th will be given a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend is Tuesday, June 18th. Myers Industries’s payout ratio is currently 50.94%.

Institutional Investors Weigh In On Myers Industries

Several institutional investors and hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. acquired a new position in shares of Myers Industries in the 4th quarter valued at approximately $16,196,000. Acadian Asset Management LLC bought a new position in Myers Industries in the first quarter valued at approximately $4,698,000. Hillsdale Investment Management Inc. acquired a new position in Myers Industries during the fourth quarter valued at approximately $3,959,000. Vanguard Group Inc. lifted its stake in Myers Industries by 6.8% during the first quarter. Vanguard Group Inc. now owns 2,846,620 shares of the industrial products company’s stock worth $65,956,000 after purchasing an additional 182,215 shares during the last quarter. Finally, ClariVest Asset Management LLC bought a new stake in Myers Industries during the first quarter worth $2,900,000. Institutional investors own 90.82% of the company’s stock.

Myers Industries Company Profile

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.