Myers Industries (NYSE:MYE) Upgraded to “Strong-Buy” by StockNews.com

StockNews.com upgraded shares of Myers Industries (NYSE:MYEGet Rating) from a buy rating to a strong-buy rating in a research note released on Tuesday.

Separately, Cowen increased their price target on Myers Industries to $28.50 in a research note on Tuesday, August 9th.

Myers Industries Trading Down 4.9 %

Myers Industries stock opened at $18.14 on Tuesday. The stock has a 50-day moving average of $21.38 and a two-hundred day moving average of $21.53. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.04 and a current ratio of 1.72. Myers Industries has a one year low of $15.82 and a one year high of $25.55. The stock has a market cap of $661.53 million, a PE ratio of 13.74 and a beta of 1.39.

Myers Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Shareholders of record on Wednesday, September 14th will be paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Tuesday, September 13th. Myers Industries’s dividend payout ratio (DPR) is presently 40.91%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Texas Permanent School Fund raised its stake in shares of Myers Industries by 2.2% in the second quarter. Texas Permanent School Fund now owns 26,269 shares of the industrial products company’s stock worth $597,000 after purchasing an additional 577 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in shares of Myers Industries by 0.5% in the first 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 during the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Myers Industries by 2.5% in the first quarter. Great West Life Assurance Co. Can now owns 32,084 shares of the industrial products company’s stock worth $710,000 after purchasing an additional 787 shares during the last quarter. Mutual of America Capital Management LLC raised its stake in shares of Myers Industries by 16.9% in the second quarter. Mutual of America Capital Management LLC now owns 6,104 shares of the industrial products company’s stock worth $139,000 after purchasing an additional 882 shares during the last quarter. Finally, Captrust Financial Advisors raised its stake in shares of Myers Industries by 32.8% in the first quarter. Captrust Financial Advisors now owns 4,494 shares of the industrial products company’s stock worth $98,000 after purchasing an additional 1,109 shares during the last quarter. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

Myers Industries Company Profile

(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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