Myers Industries Inc. (NYSE:MYE) – Investment analysts at KeyCorp lowered their FY2016 earnings per share (EPS) estimates for Myers Industries in a note issued to investors on Tuesday. KeyCorp analyst A. Josephson now expects that the brokerage will post earnings of $0.46 per share for the year, down from their previous estimate of $0.56. KeyCorp also issued estimates for Myers Industries’ Q4 2016 earnings at $0.01 EPS and FY2017 earnings at $0.40 EPS.

Separately, Zacks Investment Research lowered shares of Myers Industries from a “hold” rating to a “sell” rating in a research note on Thursday.

Myers Industries (NYSE:MYE) opened at 13.80 on Wednesday. Myers Industries has a 1-year low of $10.12 and a 1-year high of $15.86. The firm has a market capitalization of $412.55 million, a price-to-earnings ratio of 130.19 and a beta of 1.51. The company has a 50-day moving average of $12.56 and a 200-day moving average of $13.88.

Myers Industries (NYSE:MYE) last posted its earnings results on Tuesday, November 8th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by $0.04. Myers Industries had a net margin of 0.48% and a return on equity of 15.52%. The firm earned $132.70 million during the quarter, compared to analyst estimates of $131.65 million. During the same quarter in the previous year, the business posted $0.09 earnings per share. The business’s quarterly revenue was down 6.3% compared to the same quarter last year.

In related news, Director Jane Scaccetti purchased 2,000 shares of the business’s stock in a transaction on Tuesday, August 16th. The shares were purchased at an average price of $14.64 per share, with a total value of $29,280.00. Following the completion of the purchase, the director now owns 4,800 shares in the company, valued at approximately $70,272. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 3.29% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in MYE. Gamco Investors INC. ET AL raised its position in shares of Myers Industries by 2.7% in the second quarter. Gamco Investors INC. ET AL now owns 4,949,853 shares of the company’s stock worth $71,278,000 after buying an additional 128,610 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of Myers Industries by 5.9% in the third quarter. BlackRock Fund Advisors now owns 1,561,906 shares of the company’s stock worth $20,289,000 after buying an additional 87,574 shares during the last quarter. Gabelli Funds LLC raised its position in shares of Myers Industries by 0.3% in the second quarter. Gabelli Funds LLC now owns 1,542,010 shares of the company’s stock worth $22,205,000 after buying an additional 4,634 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Myers Industries by 0.5% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 604,263 shares of the company’s stock worth $7,849,000 after buying an additional 3,190 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Myers Industries by 6.3% in the third quarter. Bank of New York Mellon Corp now owns 392,918 shares of the company’s stock worth $5,105,000 after buying an additional 23,242 shares during the last quarter. 83.88% of the stock is currently owned by hedge funds and other institutional investors.

About Myers Industries

Myers Industries, Inc is an international manufacturing and distribution company. The Company operates through two segments: Material Handling, which designs, manufactures and markets a range of plastic and metal products, and Distribution, which is engaged in the distribution of equipment, tools and supplies used for tire servicing and automotive undervehicle repair and the manufacture of tire repair and retreading products.

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