Myers Industries (NYSE:MYE) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of Myers Industries (NYSE:MYE – Get Rating) in a research report released on Thursday. The brokerage issued a buy rating on the industrial products company’s stock.

Separately, TD Cowen lowered Myers Industries from an outperform rating to a market perform rating and lowered their target price for the company from $28.50 to $23.75 in a report on Thursday, March 2nd.

Myers Industries Stock Performance

MYE opened at $19.73 on Thursday. The firm has a market capitalization of $721.33 million, a P/E ratio of 12.10 and a beta of 1.41. The stock’s 50 day moving average price is $23.22 and its two-hundred day moving average price is $21.24. The company has a quick ratio of 1.19, a current ratio of 1.87 and a debt-to-equity ratio of 0.40. Myers Industries has a 12-month low of $16.08 and a 12-month high of $26.49.

Myers Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 4th. Stockholders of record on Thursday, March 16th will be issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Wednesday, March 15th. Myers Industries’s payout ratio is presently 33.13%.

Institutional Trading of Myers Industries

Several institutional investors have recently modified their holdings of MYE. LSV Asset Management grew its holdings in shares of Myers Industries by 1,524.2% during the 4th quarter. LSV Asset Management now owns 267,995 shares of the industrial products company’s stock worth $5,958,000 after purchasing an additional 251,495 shares in the last quarter. Norges Bank acquired a new stake in shares of Myers Industries during the 4th quarter worth approximately $4,604,000. Pacer Advisors Inc. acquired a new stake in shares of Myers Industries during the 4th quarter worth approximately $4,143,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Myers Industries by 4.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,163,738 shares of the industrial products company’s stock worth $94,642,000 after purchasing an additional 180,298 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Myers Industries during the 2nd quarter worth approximately $2,323,000. Institutional investors and hedge funds own 90.00% of the company’s stock.

About Myers Industries

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Myers Industries, Inc engages in the manufacture and trade of polymer products. It operates through the Material Handling and Distribution business segments. The Material Handling segment designs, manufactures, and markets a variety of plastic and metal products. The Distribution segment offers tools, equipment, and supplies used for tire, wheel, and under vehicle service on passenger, heavy truck, and off-road vehicles.