TheStreet downgraded shares of Myers Industries (NYSE:MYE) from a b rating to a c- rating in a research report sent to investors on Thursday.

MYE has been the subject of several other research reports. ValuEngine cut shares of Myers Industries from a hold rating to a sell rating in a research note on Saturday, October 6th. Cowen started coverage on shares of Myers Industries in a research note on Friday, September 28th. They issued a market perform rating for the company. JPMorgan Chase & Co. assumed coverage on shares of Myers Industries in a research note on Wednesday, July 11th. They issued a neutral rating and a $22.00 target price for the company. KeyCorp restated a sector weight rating on shares of Myers Industries in a research note on Tuesday, August 28th. Finally, Zacks Investment Research upgraded shares of Myers Industries from a hold rating to a strong-buy rating and set a $27.00 price target for the company in a research note on Wednesday, September 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Myers Industries currently has a consensus rating of Hold and an average price target of $23.50.

Shares of NYSE MYE traded down $0.32 during mid-day trading on Thursday, hitting $16.47. The company had a trading volume of 166,996 shares, compared to its average volume of 179,509. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.34 and a current ratio of 1.97. Myers Industries has a 12 month low of $15.25 and a 12 month high of $25.70. The stock has a market cap of $582.98 million, a PE ratio of 32.29 and a beta of 2.02.

Myers Industries (NYSE:MYE) last released its earnings results on Tuesday, November 6th. The industrial products company reported $0.15 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.15. Myers Industries had a negative net margin of 4.21% and a positive return on equity of 18.40%. The business had revenue of $135.22 million during the quarter, compared to analysts’ expectations of $135.08 million. During the same quarter last year, the company earned $0.11 earnings per share. The firm’s revenue was up .1% on a year-over-year basis. Research analysts forecast that Myers Industries will post 0.75 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Friday, December 7th will be paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend is Thursday, December 6th. Myers Industries’s dividend payout ratio is 105.88%.

A number of institutional investors and hedge funds have recently made changes to their positions in MYE. Royal Bank of Canada lifted its stake in Myers Industries by 25.2% during the first quarter. Royal Bank of Canada now owns 27,119 shares of the industrial products company’s stock worth $573,000 after purchasing an additional 5,454 shares during the period. Principal Financial Group Inc. lifted its stake in Myers Industries by 2.2% during the first quarter. Principal Financial Group Inc. now owns 169,140 shares of the industrial products company’s stock worth $3,577,000 after purchasing an additional 3,624 shares during the period. Hartford Investment Management Co. bought a new position in Myers Industries during the second quarter worth about $274,000. North Star Investment Management Corp. bought a new position in Myers Industries during the second quarter worth about $2,759,000. Finally, Texas Permanent School Fund lifted its stake in Myers Industries by 20.0% during the second quarter. Texas Permanent School Fund now owns 17,412 shares of the industrial products company’s stock worth $334,000 after purchasing an additional 2,904 shares during the period. Hedge funds and other institutional investors own 87.47% of the company’s stock.

Myers Industries Company Profile

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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Analyst Recommendations for Myers Industries (NYSE:MYE)

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