Myers Industries (NYSE:MYE) Hits New 12-Month Low at $13.51

Myers Industries, Inc. (NYSE:MYE) shares reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $13.51 and last traded at $13.56, with a volume of 28205 shares changing hands. The stock had previously closed at $13.70.

Analysts Set New Price Targets

Several research analysts have weighed in on MYE shares. StockNews.com cut Myers Industries from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. KeyCorp lifted their price objective on shares of Myers Industries from $22.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd.

Myers Industries Stock Down 1.3 %

The stock has a 50-day moving average of $17.12 and a 200-day moving average of $19.05. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.75 and a quick ratio of 1.10. The firm has a market cap of $492.30 million, a price-to-earnings ratio of 12.49 and a beta of 1.25.

Myers Industries (NYSE:MYE) last released its earnings results on Tuesday, May 7th. The industrial products company reported $0.21 earnings per share (EPS) for the quarter. The company had revenue of $207.10 million for the quarter. Myers Industries had a return on equity of 15.99% and a net margin of 4.90%. Sell-side analysts predict that Myers Industries, Inc. will post 1.38 EPS for the current fiscal year.

Myers Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Tuesday, June 18th will be given a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 4.08%. The ex-dividend date of this dividend is Tuesday, June 18th. Myers Industries’s payout ratio is presently 50.94%.

Institutional Trading of Myers Industries

Several large investors have recently made changes to their positions in the company. Pacer Advisors Inc. bought a new position in shares of Myers Industries in the 4th quarter valued at $16,196,000. Acadian Asset Management LLC acquired a new position in Myers Industries during the first quarter worth about $4,698,000. Hillsdale Investment Management Inc. bought a new position in shares of Myers Industries in the fourth quarter worth about $3,959,000. Vanguard Group Inc. boosted its stake in shares of Myers Industries by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 2,846,620 shares of the industrial products company’s stock valued at $65,956,000 after purchasing an additional 182,215 shares in the last quarter. Finally, ClariVest Asset Management LLC bought a new stake in shares of Myers Industries during the 1st quarter valued at approximately $2,900,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Myers Industries Company Profile

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.