Myers Industries (NYSE:MYE) Cut to Sell at StockNews.com

StockNews.com lowered shares of Myers Industries (NYSE:MYEFree Report) from a hold rating to a sell rating in a report issued on Tuesday morning.

Separately, KeyCorp cut shares of Myers Industries from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, November 6th.

View Our Latest Analysis on Myers Industries

Myers Industries Trading Down 2.0 %

Shares of MYE stock opened at $12.09 on Tuesday. The company has a market capitalization of $450.59 million, a PE ratio of 28.79 and a beta of 1.22. Myers Industries has a 52-week low of $10.35 and a 52-week high of $23.63. The business’s fifty day moving average is $11.56 and its 200 day moving average is $12.84. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.11 and a current ratio of 1.80.

Myers Industries (NYSE:MYEGet Free Report) last released its quarterly earnings results on Monday, November 4th. The industrial products company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.04). Myers Industries had a net margin of 1.88% and a return on equity of 14.75%. The business 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, equities research analysts anticipate that Myers Industries will post 0.95 EPS for the current fiscal year.

Insider Transactions at Myers Industries

In other Myers Industries news, CEO Dave Basque purchased 5,000 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were purchased at an average cost of $12.13 per share, with a total value of $60,650.00. Following the completion of the purchase, the chief executive officer now owns 34,152 shares of the company’s stock, valued at $414,263.76. The trade was a 17.15 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders bought 19,500 shares of company stock worth $232,575. 1.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Myers Industries

Several institutional investors and hedge funds have recently made changes to their positions in the business. Point72 DIFC Ltd bought a new stake in Myers Industries in the third quarter worth $28,000. nVerses Capital LLC increased its holdings in shares of Myers Industries by 57.9% in the third quarter. nVerses Capital LLC now owns 3,000 shares of the industrial products company’s stock worth $41,000 after buying an additional 1,100 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Myers Industries in the 3rd quarter valued at about $72,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Myers Industries during the 3rd quarter valued at about $85,000. Finally, Quest Partners LLC bought a new position in Myers Industries during the 3rd quarter worth approximately $150,000. Institutional investors own 90.82% of the company’s stock.

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.

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