Myers Industries (MYE) is Downgraded by KeyBanc Capital Mkts to Underweight

Myers Industries (MYE) was Downgraded by KeyBanc Capital Mkts to ” Underweight”. Earlier the firm had a rating of “Sector Weight ” on the company shares. KeyBanc Capital Mkts advised their investors in a research report released on Nov 29, 2016.

On the company’s financial health, Myers Industries reported $0.04 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Nov 8, 2016. Analyst had a consensus of $0.08. The company had revenue of $132.68 million for the quarter, compared to analysts expectations of $131.65 million. The company’s revenue was down -6.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.09 EPS.

Myers Industries opened for trading at $15 and hit $15.15 on the upside on Friday, eventually ending the session at $15.1, with a gain of 0.67% or 0.1 points. The heightened volatility saw the trading volume jump to 20,673 shares. Company has a market cap of $452 M.

Investors should note that on Nov 21, 2016, Myers Industries announced a cash dividend of $0.1350. The company’s management has announced Nov 30, 2016 as the ex-dividend date and fixed the record date on Dec 2, 2016. The payable date has been fixed on Jan 3, 2017.

In a different news, on Aug 17, 2016, Jane Scaccetti (director) purchased 2,000 shares at $14.64 per share price. According to the SEC, on Aug 12, 2016, John B Crowe (director) purchased 1,000 shares at $13.99 per share price. On May 6, 2016, R David Banyard (CEO) purchased 20,000 shares at $13.90 per share price, according to the Form-4 filing with the securities and exchange commission.

Myers Industries Inc. (Myers Industries) is an international manufacturing and distribution company. As of December 31 2014 the Company operated 22 manufacturing facilities 19 sales offices four distribution centers and three distribution branches located throughout North Central and South America. The Company operates through two segments: Material Handling and Distribution. In its Material Handling Segment it designs manufactures and markets a range of plastic products including plastic reusable material handling containers small parts storage bins portable plastic fuel tanks and water containers among others. The Distribution Segment is engaged in the distribution of tools equipment and supplies used for tire wheel and under vehicle service on passenger heavy truck and off-road vehicles and the manufacturing of tire repair materials and custom rubber products.

Myers Industries

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