Myers Industries (NYSE:MYE) Releases FY 2022 Earnings Guidance

Myers Industries (NYSE:MYEGet Rating) updated its FY 2022 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $1.30-$1.50 for the period, compared to the consensus estimate of $1.26. The company issued revenue guidance of -.

A number of equities research analysts have recently weighed in on the company. StockNews.com downgraded Myers Industries from a strong-buy rating to a buy rating in a research note on Wednesday, May 18th. Zacks Investment Research raised Myers Industries from a hold rating to a buy rating and set a $24.00 price objective on the stock in a research note on Wednesday, May 4th.

Shares of MYE stock traded up $0.67 during trading on Monday, reaching $23.31. The company had a trading volume of 1,891 shares, compared to its average volume of 127,680. The firm’s 50 day simple moving average is $21.55 and its two-hundred day simple moving average is $19.75. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.71 and a quick ratio of 1.04. Myers Industries has a one year low of $15.82 and a one year high of $25.10. The company has a market capitalization of $847.18 million, a PE ratio of 19.03 and a beta of 1.41.

Myers Industries (NYSE:MYEGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The industrial products company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.22. Myers Industries had a return on equity of 21.67% and a net margin of 5.36%. The business had revenue of $225.49 million for the quarter, compared to the consensus estimate of $204.21 million. During the same period last year, the business earned $0.22 EPS. Analysts forecast that Myers Industries will post 1.62 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 4th. Shareholders of record on Thursday, March 17th were issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Wednesday, March 16th. Myers Industries’s dividend payout ratio (DPR) is currently 45.38%.

In other Myers Industries news, Director Frederic Jack Liebau, Jr. bought 5,000 shares of the stock in a transaction on Tuesday, March 15th. The shares were purchased at an average price of $18.42 per share, with a total value of $92,100.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.97% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fuller & Thaler Asset Management Inc. grew its holdings in shares of Myers Industries by 0.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 148,595 shares of the industrial products company’s stock worth $3,210,000 after purchasing an additional 775 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Myers Industries by 2.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 32,084 shares of the industrial products company’s stock worth $710,000 after buying an additional 787 shares during the period. California State Teachers Retirement System lifted its position in shares of Myers Industries by 2.1% during the 4th quarter. California State Teachers Retirement System now owns 45,721 shares of the industrial products company’s stock worth $915,000 after buying an additional 937 shares during the period. Royal Bank of Canada lifted its position in shares of Myers Industries by 12.8% during the 3rd quarter. Royal Bank of Canada now owns 8,543 shares of the industrial products company’s stock worth $167,000 after buying an additional 970 shares during the period. Finally, Captrust Financial Advisors lifted its position in shares of Myers Industries by 32.8% during the 1st quarter. Captrust Financial Advisors now owns 4,494 shares of the industrial products company’s stock worth $98,000 after buying an additional 1,109 shares during the period. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

About Myers Industries (Get Rating)

Myers Industries, Inc engages in distribution of tire service supplies in Ohio. It operates through The Material Handling and Distribution segments. The Material Handling segment offers pallets, small parts bins, bulk shipping containers, OEM parts, storage, organization, and custom plastic products; injection molded, rotationally molded or blow molded products, consumer fuel containers and tanks for water, fuel, and waste handling.

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