Myers Industries (NYSE:MYE) Stock Crosses Above 200 Day Moving Average – Should You Sell?

Shares of Myers Industries, Inc. (NYSE:MYE) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $25.08 and traded as high as $33.12. Myers Industries shares last traded at $33.01, with a volume of 208,956 shares trading hands.

Analyst Upgrades and Downgrades

MYE has been the subject of several analyst reports. Wall Street Zen raised Myers Industries from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Weiss Ratings raised Myers Industries from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 31st. Finally, KeyCorp upped their price target on Myers Industries from $26.00 to $37.00 and gave the stock an “overweight” rating in a report on Tuesday, June 30th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $37.00.

Myers Industries Trading Up 1.9%

The firm has a market capitalization of $1.23 billion, a PE ratio of 33.77 and a beta of 0.89. The firm’s fifty day moving average is $31.24 and its two-hundred day moving average is $25.16. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.61 and a quick ratio of 1.21.

Myers Industries (NYSE:MYE) last posted its quarterly earnings data on Thursday, July 30th. The industrial products company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.36 by $0.17. Myers Industries had a net margin of 4.86% and a return on equity of 19.86%. The firm had revenue of $179.20 million during the quarter, compared to analyst estimates of $166.00 million.

Myers Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Wednesday, June 17th were given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Wednesday, June 17th. Myers Industries’s dividend payout ratio (DPR) is presently 55.67%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Myers Industries during the 2nd quarter valued at $104,161,000. Vanguard Group Inc. raised its stake in shares of Myers Industries by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 2,889,837 shares of the industrial products company’s stock worth $54,098,000 after purchasing an additional 22,263 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of 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 worth $33,663,000 after buying an additional 39,565 shares during the last quarter. Advisory Research Inc. boosted its holdings in shares of Myers Industries by 84.5% in the 4th quarter. Advisory Research Inc. now owns 1,302,928 shares of the industrial products company’s stock worth $24,391,000 after buying an additional 596,848 shares during the last quarter. Finally, Pzena Investment Management LLC grew its position in Myers Industries by 813.5% during the fourth quarter. Pzena Investment Management LLC now owns 1,302,309 shares of the industrial products company’s stock valued at $24,379,000 after buying an additional 1,159,746 shares during the period. Hedge funds and other institutional investors own 90.82% of the company’s stock.

About Myers Industries

Myers Industries, Inc is a diversified manufacturer of polymer products serving industrial, commercial and consumer markets. The company designs, produces and markets a broad range of molded and fabricated plastic components, including pallets, bulk containers, tanks and drums used in material handling and storage applications. Myers Industries leverages proprietary polymer technologies to provide durable, reusable solutions that help customers optimize supply chain efficiency and reduce environmental impact.

Myers operates primarily through two business segments.