Myers Industries (NYSE:MYE) Stock Price Crosses Above 200-Day Moving Average of $19.15

Myers Industries, Inc. (NYSE:MYE) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $19.15 and traded as high as $21.63. Myers Industries shares last traded at $21.57, with a volume of 183,180 shares traded.

Analyst Ratings Changes

Several brokerages recently commented on MYE. StockNews.com upgraded Myers Industries from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 16th. KeyCorp boosted their target price on shares of Myers Industries from $22.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, March 22nd.

Myers Industries Trading Up 1.4 %

The company has a current ratio of 1.55, a quick ratio of 1.00 and a debt-to-equity ratio of 0.14. The company has a market cap of $796.80 million, a price-to-earnings ratio of 16.34 and a beta of 1.31. The firm has a 50-day moving average price of $21.03 and a 200 day moving average price of $19.15.

Myers Industries (NYSE:MYE) last announced its quarterly earnings data on Tuesday, March 5th. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.03. The firm had revenue of $191.08 million for the quarter, compared to analysts’ expectations of $191.60 million. Myers Industries had a return on equity of 18.55% and a net margin of 6.01%. During the same period last year, the business posted $0.32 earnings per share. As a group, sell-side analysts forecast that Myers Industries, Inc. will post 1.38 EPS for the current year.

Myers Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Saturday, March 16th were issued a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend was Thursday, March 14th. Myers Industries’s dividend payout ratio (DPR) is 40.91%.

Hedge Funds Weigh In On Myers Industries

Hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its position in shares of Myers Industries by 80.2% during the second quarter. Tower Research Capital LLC TRC now owns 1,941 shares of the industrial products company’s stock worth $38,000 after buying an additional 864 shares during the period. NewEdge Advisors LLC bought a new position in shares of Myers Industries in the first quarter worth $41,000. Quest Partners LLC bought a new position in shares of Myers Industries in the fourth quarter worth $54,000. Point72 Asset Management L.P. acquired a new position in shares of Myers Industries during the fourth quarter valued at $55,000. Finally, UBS Group AG raised its stake in shares of Myers Industries by 58.5% during the third quarter. UBS Group AG now owns 3,621 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 1,337 shares in the last quarter. 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.