Myers Industries (NYSE:MYE) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Myers Industries (NYSE:MYE) from a hold rating to a buy rating in a research note published on Saturday morning.

A number of other equities research analysts have also recently weighed in on the stock. KeyCorp lifted their price objective on shares of Myers Industries from $26.00 to $37.00 and gave the company an “overweight” rating in a research note on Tuesday, June 30th. Weiss Ratings cut shares of Myers Industries from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Myers Industries has a consensus rating of “Hold” and an average price target of $37.00.

Myers Industries Stock Up 4.2%

MYE opened at $34.36 on Friday. The stock’s 50 day moving average price is $28.72 and its 200 day moving average price is $23.96. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.61 and a quick ratio of 1.29. The stock has a market cap of $1.29 billion, a P/E ratio of 35.42 and a beta of 0.88. Myers Industries has a 12 month low of $12.96 and a 12 month high of $36.00.

Myers Industries (NYSE:MYE) last announced its quarterly earnings results on Thursday, July 30th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.17. Myers Industries had a return on equity of 19.86% and a net margin of 4.86%.The company had revenue of $179.20 million during the quarter, compared to analyst estimates of $166.00 million.

Myers Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Wednesday, June 17th were paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Wednesday, June 17th. Myers Industries’s payout ratio is currently 77.14%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MYE. Royal Bank of Canada grew its holdings in Myers Industries by 44.5% during the first quarter. Royal Bank of Canada now owns 24,684 shares of the industrial products company’s stock worth $295,000 after acquiring an additional 7,607 shares during the period. AQR Capital Management LLC lifted its holdings in Myers Industries by 148.8% in the 1st quarter. AQR Capital Management LLC now owns 166,990 shares of the industrial products company’s stock valued at $1,992,000 after acquiring an additional 99,881 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Myers Industries by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,835 shares of the industrial products company’s stock valued at $260,000 after purchasing an additional 936 shares in the last quarter. Millennium Management LLC boosted its position in shares of Myers Industries by 2.7% during the 1st quarter. Millennium Management LLC now owns 911,626 shares of the industrial products company’s stock valued at $10,876,000 after purchasing an additional 23,866 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Myers Industries by 12.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 320,996 shares of the industrial products company’s stock worth $3,829,000 after purchasing an additional 34,787 shares during the last quarter. Institutional investors own 90.82% of the company’s stock.

Key Myers Industries News

Here are the key news stories impacting Myers Industries this week:

• Positive Sentiment: Quarterly results beat expectations: Second-quarter sales increased 9.8% year over year to $179.2 million, above the $166 million consensus estimate. Adjusted EPS was reported at approximately $0.50-$0.53, versus expectations of $0.36. Net income more than doubled to $20.0 million, while operating income reached $31.2 million. Myers Industries Announces 2026 Second Quarter Results
• Positive Sentiment: Strong end-market performance: Infrastructure sales rose 52% and Food & Beverage sales climbed 48%. Management said infrastructure growth should remain strong, with moderate growth expected in Industrial and Food & Beverage markets. Myers Industries Q2 Revenue Rises 9.8 Percent
• Positive Sentiment: Defense expansion supports the growth outlook: Scepter, Myers’ military-packaging business, launched European production of ammunition containers and is expanding its manufacturing footprint to Poland. Management sees ammunition-packaging revenue growing at a 10%-15% compound annual rate through 2028, potentially improving European sales and capacity. Myers Industries Expands Defense Manufacturing Footprint to Poland
• Positive Sentiment: Healthy cash generation and liquidity: Operating cash flow was $32.1 million and free cash flow was $26.5 million. Total liquidity stood at $292.3 million after the company refinanced and extended its credit facilities, providing flexibility for expansion. Myers Industries Posts Strong Second-Quarter 2026 Results
• Negative Sentiment: Some markets remain weak: Vehicle sales declined 19% and Consumer sales fell 14%, underscoring continued exposure to cyclical and softer-demand end markets. The stock’s elevated valuation, including a price-to-earnings ratio near 49, may also limit upside if growth slows.

About Myers Industries

Myers Industries, Inc is a diversified manufacturer of polymer products serving industrial, commercial and consumer markets. The company designs, produces and markets a broad range of molded and fabricated plastic components, including pallets, bulk containers, tanks and drums used in material handling and storage applications. Myers Industries leverages proprietary polymer technologies to provide durable, reusable solutions that help customers optimize supply chain efficiency and reduce environmental impact.

Myers operates primarily through two business segments.