Myers Industries (NYSE:MYE) Shares Pass Above Two Hundred Day Moving Average of $20.28

Myers Industries, Inc. (NYSE:MYEGet Rating)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $20.28 and traded as high as $21.91. Myers Industries shares last traded at $21.83, with a volume of 241,138 shares.

Separately, cut Myers Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, June 10th.

The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.04 and a current ratio of 1.71. The firm has a market cap of $793.39 million, a PE ratio of 18.34 and a beta of 1.40. The stock has a fifty day moving average price of $22.97 and a 200-day moving average price of $20.28.

Myers Industries (NYSE:MYEGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.22. The business had revenue of $225.49 million for the quarter, compared to analyst estimates of $204.21 million. Myers Industries had a return on equity of 21.67% and a net margin of 5.36%. During the same period in the prior year, the company posted $0.22 EPS. As a group, equities analysts predict that Myers Industries, Inc. will post 1.62 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 5th. Investors of record on Friday, June 17th will be given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Thursday, June 16th. Myers Industries’s dividend payout ratio is currently 45.38%.

Several hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC acquired a new stake in Myers Industries in the fourth quarter worth $41,447,000. Assenagon Asset Management S.A. acquired a new stake in Myers Industries in the fourth quarter worth $2,520,000. ARGI Investment Services LLC acquired a new stake in Myers Industries in the fourth quarter worth $2,172,000. Victory Capital Management Inc. increased its position in Myers Industries by 17.0% in the fourth quarter. Victory Capital Management Inc. now owns 305,460 shares of the industrial products company’s stock worth $6,112,000 after buying an additional 44,398 shares during the period. Finally, Ergoteles LLC acquired a new stake in Myers Industries in the first quarter worth $925,000. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Myers Industries Company Profile (NYSE:MYE)

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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