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

Myers Industries (NYSE:MYE) posted its earnings results on Thursday. The industrial products company reported $0.19 earnings per share (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 Trading Up 24.7 %

Shares of NYSE MYE traded up $2.40 during trading on Thursday, reaching $12.14. The company had a trading volume of 731,076 shares, compared to its average volume of 291,327. The stock has a market cap of $452.49 million, a P/E ratio of 28.91 and a beta of 1.21. The company’s fifty day moving average price is $11.50 and its 200-day moving average price is $12.37. The company has a quick ratio of 1.11, a current ratio of 1.80 and a debt-to-equity ratio of 1.36. Myers Industries has a 12 month low of $9.32 and a 12 month high of $23.63.

Myers Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend is Friday, March 14th. Myers Industries’s dividend payout ratio is currently 128.57%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MYE. StockNews.com downgraded Myers Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, January 28th. KeyCorp cut shares of Myers Industries from an “overweight” rating to a “sector weight” rating in a report on Wednesday, November 6th.

Insider Transactions at Myers Industries

In other news, CEO Dave Basque bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were acquired 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 directly owns 39,152 shares in the company, valued at approximately $485,876.32. This represents a 14.64 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.40% of the stock is owned by corporate insiders.

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.