Other equities research analysts have also issued reports about the company. Cowen upgraded Myers Industries from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $20.00 to $22.00 in a research report on Tuesday, August 27th. Zacks Investment Research lowered Myers Industries from a “hold” rating to a “sell” rating in a research report on Friday.
Shares of MYE stock opened at $16.40 on Monday. The firm has a market cap of $582.45 million, a P/E ratio of 21.58 and a beta of 1.57. Myers Industries has a fifty-two week low of $14.24 and a fifty-two week high of $19.55. The business’s 50 day moving average price is $17.01 and its 200-day moving average price is $17.46. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.77 and a current ratio of 2.26.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP boosted its position in shares of Myers Industries by 1.0% during the first quarter. First Trust Advisors LP now owns 64,443 shares of the industrial products company’s stock valued at $1,103,000 after purchasing an additional 642 shares in the last quarter. SeaBridge Investment Advisors LLC boosted its position in shares of Myers Industries by 3.8% during the second quarter. SeaBridge Investment Advisors LLC now owns 21,141 shares of the industrial products company’s stock valued at $407,000 after purchasing an additional 766 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of Myers Industries by 2.2% during the second quarter. Prudential Financial Inc. now owns 63,739 shares of the industrial products company’s stock valued at $1,228,000 after purchasing an additional 1,360 shares in the last quarter. Trust Co. of Vermont bought a new stake in shares of Myers Industries during the second quarter valued at approximately $39,000. Finally, Strs Ohio boosted its position in shares of Myers Industries by 6.9% during the second quarter. Strs Ohio now owns 37,300 shares of the industrial products company’s stock valued at $718,000 after purchasing an additional 2,400 shares in the last quarter. Institutional investors own 87.11% of the company’s stock.
About Myers Industries
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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