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Myers Industries (NYSE:MYE - Get Rating) was upgraded by investment analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a note issued to investors on Tuesday.

Shares of NYSE MYE traded down $0.74 during midday trading on Tuesday, hitting $22.18. 121,310 shares of the company's stock were exchanged, compared to its average volume of 133,666. The business's fifty day moving average price is $23.06 and its two-hundred day moving average price is $20.34. The company has a market cap of $806.11 million, a price-to-earnings ratio of 18.64 and a beta of 1.40. Myers Industries has a 12-month low of $15.82 and a 12-month high of $25.55. The company has a current ratio of 1.71, a quick ratio of 1.04 and a debt-to-equity ratio of 0.45.

Myers Industries (NYSE:MYE - Get Rating) last released its earnings results on Thursday, May 5th. The industrial products company reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.22. Myers Industries had a return on equity of 21.67% and a net margin of 5.36%. The company had revenue of $225.49 million during the quarter, compared to the consensus estimate of $204.21 million. During the same quarter in the previous year, the company posted $0.22 EPS. Equities analysts expect that Myers Industries will post 1.62 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of MYE. Captrust Financial Advisors grew its stake in Myers Industries by 32.8% in the first quarter. Captrust Financial Advisors now owns 4,494 shares of the industrial products company's stock worth $98,000 after purchasing an additional 1,109 shares during the period. KBC Group NV grew its stake in shares of Myers Industries by 65.1% in the first quarter. KBC Group NV now owns 6,029 shares of the industrial products company's stock worth $130,000 after acquiring an additional 2,377 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Myers Industries in the first quarter worth $217,000. Man Group plc purchased a new stake in shares of Myers Industries in the third quarter worth $243,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Myers Industries in the first quarter worth $256,000. 92.02% of the stock is currently owned by institutional investors.

About Myers Industries (Get Rating)

Myers Industries, Inc engages in distribution of tire service supplies in Ohio. It operates through The Material Handling and Distribution segments. The Material Handling segment offers pallets, small parts bins, bulk shipping containers, OEM parts, storage, organization, and custom plastic products; injection molded, rotationally molded or blow molded products, consumer fuel containers and tanks for water, fuel, and waste handling.

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