Sowell Financial Services LLC Purchases New Stake in Myers Industries, Inc. $MYE

Sowell Financial Services LLC bought a new position in shares of Myers Industries, Inc. (NYSE:MYE) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 106,537 shares of the industrial products company’s stock, valued at approximately $3,278,000. Sowell Financial Services LLC owned 0.28% of Myers Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Myers Industries during the 2nd quarter worth approximately $104,161,000. Dimensional Fund Advisors LP boosted its position in Myers Industries by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,589,420 shares of the industrial products company’s stock valued at $33,663,000 after purchasing an additional 39,565 shares during the period. Pzena Investment Management LLC acquired a new position in Myers Industries during the 2nd quarter valued at approximately $27,578,000. Arrowstreet Capital Limited Partnership boosted its position in Myers Industries by 10.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 712,692 shares of the industrial products company’s stock valued at $15,095,000 after purchasing an additional 67,080 shares during the period. Finally, Tieton Capital Management LLC bought a new position in Myers Industries during the 2nd quarter worth $16,321,000. 90.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on MYE. Wall Street Zen downgraded shares of Myers Industries from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings upgraded shares of Myers Industries from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Trending Headlines about Myers Industries

Here are the key news stories impacting Myers Industries this week:

• Positive Sentiment: Third-quarter revenue increased 8.1% year over year to $171.3 million, exceeding analysts’ expectations of approximately $163.8 million. Infrastructure revenue rose 38%, while Food & Beverage revenue grew 12%. Myers Industries Revenue Rises 8.1% to $171.3 Million in Third Quarter
• Positive Sentiment: Management expects significant sequential margin improvement in the fourth quarter as pricing actions take effect and resin costs stabilize. The company also outlined Signature capacity expansions of 30% in 2027 and another 30% in 2029, potentially supporting about $60 million of incremental revenue through 2029. Myers outlines Signature capacity expansions
• Neutral Sentiment: Myers reported $17.4 million of operating cash flow, $5.9 million of capital expenditures and total liquidity of $254.7 million, including $53.5 million in cash. These figures provide financial flexibility, although investors are focused more immediately on margin recovery. Myers Industries Reports Third-Quarter Results
• Negative Sentiment: Adjusted earnings per share were $0.32, below the $0.45 consensus estimate. Net income fell to a $0.9 million loss, or $0.02 per diluted share, from $7.1 million of profit a year earlier. Gross profit declined 5.0% to $46.8 million, and gross margin contracted to 27.3% from 31.1%. Myers Industries Sinks as Resin Costs Squeeze Margins

Myers Industries Stock Performance

NYSE:MYE opened at $29.66 on Friday. Myers Industries, Inc. has a twelve month low of $16.46 and a twelve month high of $37.45. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.94. The company has a 50-day moving average of $31.46 and a 200-day moving average of $26.55. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 39.03 and a beta of 0.83.

Myers Industries (NYSE:MYE) last announced its earnings results on Thursday, October 29th. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.13). Myers Industries had a return on equity of 20.34% and a net margin of 3.99%. The company had revenue of $171.34 million for the quarter, compared to analyst estimates of $163.80 million. During the same period last year, the firm earned $0.19 earnings per share.

Myers Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 6th. Stockholders of record on Friday, December 4th will be issued a dividend of $0.1350 per share. This represents a $0.54 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, December 4th. Myers Industries’s payout ratio is currently 71.05%.

Myers Industries Profile

Myers Industries, Inc is a manufacturer and distributor of products serving industrial, agricultural, automotive, commercial and consumer markets. Founded in 1933 and headquartered in Akron, Ohio, the company operates primarily in North America.

Through its material-handling businesses, Myers Industries produces reusable plastic containers, totes, pallets, drums, tanks and other molded products. These products are used to store, transport and protect materials across industries such as manufacturing, food processing, agriculture, healthcare and logistics.

The company also distributes tire-service supplies, equipment and related products to tire dealers, retreaders, commercial fleets and automotive service providers.