Myers Industries (NYSE:MYE) Stock Dropped to Hold by Wall Street Zen

Wall Street Zen lowered shares of Myers Industries (NYSE:MYE) from a buy rating to a hold rating in a report released on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings raised Myers Industries from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $37.00.

Myers Industries Stock Performance

Shares of MYE opened at $29.66 on Friday. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 39.03 and a beta of 0.83. Myers Industries has a 12 month low of $16.46 and a 12 month high of $37.45. The firm has a fifty day simple moving average of $31.46 and a 200 day simple moving average of $26.55. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.94.

Myers Industries (NYSE:MYE) last issued its quarterly earnings results on Thursday, October 29th. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.13). Myers Industries had a net margin of 3.99% and a return on equity of 20.34%. The business had revenue of $171.34 million during the quarter, compared to analyst estimates of $163.80 million. During the same quarter in the previous year, the firm posted $0.19 earnings per share.

Myers Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 6th. Shareholders of record on Friday, December 4th will be paid a $0.1350 dividend. The ex-dividend date is Friday, December 4th. This represents a $0.54 dividend on an annualized basis and a yield of 1.8%. Myers Industries’s dividend payout ratio (DPR) is currently 71.05%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MYE. BlackRock Inc. acquired a new position in shares of Myers Industries during the 2nd quarter worth approximately $104,161,000. Dimensional Fund Advisors LP raised its stake in Myers Industries by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,589,420 shares of the industrial products company’s stock valued at $33,663,000 after acquiring an additional 39,565 shares during the period. Pzena Investment Management LLC bought a new stake in Myers Industries in the 2nd quarter valued at $27,578,000. Tieton Capital Management LLC acquired a new stake in Myers Industries during the 2nd quarter valued at $16,321,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Myers Industries by 10.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 712,692 shares of the industrial products company’s stock valued at $15,095,000 after purchasing an additional 67,080 shares during the last quarter. Institutional investors own 90.82% of the company’s stock.

Key Stories Impacting Myers Industries

Here are the key news stories impacting Myers Industries this week:

• Positive Sentiment: Third-quarter revenue increased 8.1% year over year to $171.3 million, exceeding analysts’ expectations of approximately $163.8 million. Infrastructure revenue rose 38%, while Food & Beverage revenue grew 12%. Myers Industries Revenue Rises 8.1% to $171.3 Million in Third Quarter
• Positive Sentiment: Management expects significant sequential margin improvement in the fourth quarter as pricing actions take effect and resin costs stabilize. The company also outlined Signature capacity expansions of 30% in 2027 and another 30% in 2029, potentially supporting about $60 million of incremental revenue through 2029. Myers outlines Signature capacity expansions
• Neutral Sentiment: Myers reported $17.4 million of operating cash flow, $5.9 million of capital expenditures and total liquidity of $254.7 million, including $53.5 million in cash. These figures provide financial flexibility, although investors are focused more immediately on margin recovery. Myers Industries Reports Third-Quarter Results
• Negative Sentiment: Adjusted earnings per share were $0.32, below the $0.45 consensus estimate. Net income fell to a $0.9 million loss, or $0.02 per diluted share, from $7.1 million of profit a year earlier. Gross profit declined 5.0% to $46.8 million, and gross margin contracted to 27.3% from 31.1%. Myers Industries Sinks as Resin Costs Squeeze Margins

About Myers Industries

Myers Industries, Inc is a manufacturer and distributor of products serving industrial, agricultural, automotive, commercial and consumer markets. Founded in 1933 and headquartered in Akron, Ohio, the company operates primarily in North America.

Through its material-handling businesses, Myers Industries produces reusable plastic containers, totes, pallets, drums, tanks and other molded products. These products are used to store, transport and protect materials across industries such as manufacturing, food processing, agriculture, healthcare and logistics.

The company also distributes tire-service supplies, equipment and related products to tire dealers, retreaders, commercial fleets and automotive service providers.