Myers Industries (NYSE:MYE) Announces Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Myers Industries (NYSE:MYE) posted its quarterly earnings results on Thursday. The industrial products company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.09, Zacks reports. Myers Industries had a return on equity of 14.75% and a net margin of 1.88%.

Myers Industries Stock Up 23.9 %

Shares of Myers Industries stock traded up $2.33 during trading on Thursday, reaching $12.07. 675,812 shares of the company traded hands, compared to its average volume of 289,649. The company has a 50 day moving average price of $11.50 and a 200-day moving average price of $12.37. Myers Industries has a 1-year low of $9.32 and a 1-year high of $23.63. The firm has a market capitalization of $449.73 million, a PE ratio of 28.61 and a beta of 1.21. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.80 and a quick ratio of 1.11.

Myers Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be paid a dividend of $0.135 per share. The ex-dividend date is Friday, March 14th. This represents a $0.54 annualized dividend and a yield of 4.47%. Myers Industries’s dividend payout ratio is currently 128.57%.

Analyst Upgrades and Downgrades

MYE has been the subject of several research analyst reports. KeyCorp downgraded Myers Industries from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, November 6th. StockNews.com downgraded shares of Myers Industries from a “hold” rating to a “sell” rating in a report on Tuesday, January 28th.

Insider Transactions at Myers Industries

In other Myers Industries news, CEO Dave Basque acquired 5,000 shares of the stock in a transaction on Monday, December 9th. The shares were purchased at an average price of $12.41 per share, for a total transaction of $62,050.00. Following the completion of the acquisition, the chief executive officer now owns 39,152 shares in the company, valued at approximately $485,876.32. This represents a 14.64 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.40% 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.