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Myers Inds - MYE STOCK NEWS

Welcome to our dedicated page for Myers Inds news (Ticker: MYE), a resource for investors and traders seeking the latest updates and insights on Myers Inds stock.

Overview

Myers Industries Inc (MYE) has been a stalwart in the industrial manufacturing arena since its founding in 1933 in Akron, Ohio. The company has built a reputation for designing, manufacturing, and marketing a diverse array of polymer, metal, and rubber products that serve critical functions in material handling and distribution. With an emphasis on sustainable and reusable solutions, Myers Industries creates products that are essential for reducing waste and optimizing operational efficiencies across several markets.

Core Business Segments

The company operates primarily through two key business segments:

  • Material Handling Segment: This segment is responsible for the design and manufacture of reusable plastic and metal products, including bulk boxes, storage bins, pallets, and containers. Their innovative range extends to durable fuel, water, and waste tanks, as well as portable fuel containers that cater to a range of applications from marine and recreational vehicles to military uses. The products in this segment are engineered to replace disposable packaging solutions, providing cost savings and environmental benefits to industries that require robust and long-lasting material handling systems.
  • Distribution Segment: Focused on distributing tire retread and repair products, as well as offering tools, equipment, and supplies for under-vehicle services, this segment supports the automotive, commercial, and heavy truck industries. It emphasizes reliability and quality, ensuring that service providers and maintenance operations have access to critical components that keep vehicles operating safely and efficiently.

Product Portfolio and Market Applications

Myers Industries boasts a highly diversified portfolio comprising plastic reusable containers, pallets, small parts bins, bulk shipping containers, metal shelving systems, and custom-designed products. This expansive range is tailored to meet the rigorous demands of several key markets, including:

  • Agriculture: Durable storage solutions and reusable packaging provide a practical alternative to traditional disposable materials in the agricultural supply chain.
  • Food and Beverage: Custom storage bins and transportation containers help maintain product integrity while reducing packaging waste.
  • Industrial and Retail: The company serves a broad base of industrial and commercial operations that require reliable material handling systems to improve logistic efficiencies.
  • Healthcare: Sterile and robust storage and organization solutions cater to healthcare operations where precision and reliability are critical.
  • Marine and Recreational: The design and supply of specialized fuel and water tanks along with portable containers are indispensable for marine applications, recreational vehicles, and even military usage.

Manufacturing Excellence and Operational Strengths

At the heart of Myers Industries’ operations is a commitment to quality manufacturing and innovation. The company leverages advanced polymer processing techniques and precision engineering to ensure its products meet the stringent requirements of diverse industrial applications. The emphasis on reusable and sustainable solutions not only addresses cost reduction for businesses but also supports environmental initiatives by minimizing waste. The company’s ability to cater to niche product demands while maintaining a broad appeal across multiple sectors underscores its operational versatility and technical expertise.

Competitive Position and Industry Significance

Myers Industries occupies a distinct position within the competitive landscape of material handling and distribution. Its longstanding market presence, coupled with a diversified product line, provides it with a competitive edge when addressing varied customer needs. The company differentiates itself through its blend of innovative design, manufacturing excellence, and broad application reach. By continuously adapting its product offerings to meet the evolving requirements of industries such as agriculture, automotive, and healthcare, Myers Industries has established itself as a dependable partner within the supply chains it serves.

Expertise and Market Impact

Demonstrating a deep understanding of both manufacturing processes and the operational demands of key sectors, Myers Industries has successfully integrated industry-specific innovations that resonate with contemporary market needs. The company’s focus on durable, reusable solutions has positioned it as an important contributor to cost-effective and efficient operations in markets that require reliability and prolonged product lifecycles. Through continuous advancements in material science and engineering, Myers Industries stands as a testament to the benefits of combining tradition with modern innovation.

Operational Philosophy and Strategic Relevance

Central to the operational philosophy of Myers Industries is a commitment to delivering high-performance, sustainable solutions that enhance operational efficiency across industries. The company prioritizes engineering excellence and product reliability, ensuring that every product is developed to withstand rigorous operational environments. This strategic approach not only bolsters the company’s reputation in the industrial sector but also reinforces its role in driving forward the evolution of material handling and distribution systems.

Conclusion

In summary, Myers Industries Inc (MYE) is an established entity in the manufacturing and distribution of polymer, metal, and rubber products. By offering a diversified portfolio that meets the stringent demands of material handling and distribution, the company plays a significant role across multiple high-impact markets. Its commitment to quality, innovation, and sustainability makes it a noteworthy subject of study for investors, industry analysts, and market researchers seeking an in-depth understanding of how robust manufacturing capabilities can drive operational success across various segments.

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Scepter introduces Powered Fueling Station, a professional-grade mobile refueling container that simplifies refueling with the flip of a switch. The 14-gallon container is fast, smart, and mobile, equipped with a high-quality fuel pump, intuitive features, and robust wheel treads. Certified by the Department of Transportation, it aims to minimize refueling downtime and empower consumers at work and home.
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Myers Industries, Inc. (NYSE: MYE) will report its first-quarter 2024 financial results on May 7, 2024, followed by a conference call at 8:30 a.m. Eastern Time. Investors and analysts can access the call online or via a live webcast on the Company's website.
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Myers Industries, Inc. to host 2024 Investor Day event outlining strategic growth plans and future outlook through fiscal year 2026. The event will focus on the Three Horizon Strategy, transitioning to Horizon Two, and long-term vision for the Company.
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Myers Industries, Inc. announces solid operating performance driven by Self-Help Initiatives and Myers Business System. The company expects improved profitability in Fiscal Year 2024. Despite cyclical headwinds, 2023 saw progress with top years in adjusted earnings per share, adjusted EBITDA, and revenue. Financial highlights include net sales of $191.1 million in Q4 2023, $813.1 million in full year 2023, and cash flow improvements. Acquisition of Signature Systems enhances long-term growth prospects.
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Myers Industries, Inc. (MYE) declares a quarterly cash dividend of $0.135 per share for shareholders, payable on April 4, 2024.
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Myers Industries, Inc. has completed the acquisition of Signature Systems, strengthening its portfolio of market-leading brands and enhancing its margin and EPS growth profiles. The $350 million cash transaction was funded through an amendment and restatement of Myers' existing loan agreement, with a $400 million 5-year senior secured term loan A being added. The acquisition is expected to deliver double-digit EPS accretion and $8 million of run-rate synergies by 2025, with the Company's net leverage ratio at approximately 3.0x, within management's target range. Pro forma for the acquisition, Signature Systems' financial results are expected to be included within Myers' Material Handling segment. The transaction is expected to be neutral to slightly dilutive to US GAAP EPS in fiscal year 2024 but is anticipated to deliver EPS accretion of $0.20 to $0.30 in 2025 and $0.40 to $0.50 in 2026, with additional meaningful EPS accretion beyond 2026. Moelis & Company LLC served as the exclusive financial advisor to Myers with respect to the transaction, while Vorys, Sater, Seymour and Pease LLP and Davis Polk & Wardwell LLP provided legal counsel.
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Myers Industries, Inc. (NYSE: MYE) will report Q4 and full year 2023 financial results on March 5, 2024. The conference call will be available via webcast, with an archived replay. The Annual Meeting of Shareholders is scheduled for April 25, 2024, with both in-person and webcast options.
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Myers Industries, Inc. (NYSE: MYE) announced the acquisition of Signature Systems, a leader in composite ground protection solutions, to bolster its margin and profitability profile. The acquisition is projected to deliver $8 million in annualized operational and cost synergies by 2025, with US GAAP EPS projected to be flat to slightly dilutive in 2024, and $0.20 - $0.30 per share accretion in 2025, $0.40 - $0.50 per share accretion in 2026, and additional meaningful accretion beyond 2026.
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Myers Industries, Inc. (NYSE: MYE) announced the appointment of Meghan Beringer as Senior Director of Investor Relations. Beringer brings twenty years of leadership experience and a strong network from her previous roles in the utility and banking industries. She will focus on driving transparency in communications with the investment community, reporting to Grant Fitz, Chief Financial Officer.
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Myers Industries, Inc. reported net sales of $197.8 million for Q3 2023, a decrease of 13.3% compared to the prior year period. Gross margin increased by 10 basis points to 31.5%. GAAP net income per diluted share was $0.34, while adjusted earnings per diluted share were $0.38. Cash flow provided by operations was $22.1 million and free cash flow was $18.1 million. The Material Handling segment saw a decrease in net sales and operating income, while the Distribution segment experienced a decrease in net sales but an increase in operating income. The company's cash on hand was $24.8 million and total debt was $69.3 million as of September 30, 2023. The company revised its outlook for fiscal 2023, expecting a decline in net sales and adjusted earnings per diluted share.
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FAQ

What is the current stock price of Myers Inds (MYE)?

The current stock price of Myers Inds (MYE) is $10.38 as of April 4, 2025.

What is the market cap of Myers Inds (MYE)?

The market cap of Myers Inds (MYE) is approximately 379.8M.

What are the primary business segments of Myers Industries?

Myers Industries operates through a Material Handling segment focused on manufacturing reusable plastic and metal products, and a Distribution segment that handles tire retread and repair products along with related equipment.

Which industries does Myers Industries primarily serve?

The company serves a broad range of markets including agriculture, food and beverage, industrial and retail, healthcare, marine, recreational, and military sectors.

How does Myers Industries contribute to sustainability?

By manufacturing reusable plastic containers, pallets, and storage systems, Myers Industries offers cost-effective alternatives to disposable packaging, thereby reducing waste and environmental impact.

What types of products does the Material Handling segment produce?

This segment produces a variety of reusable products such as bulk boxes, storage bins, pallets, metal shelving systems, and specialized tanks for fuel, water, and waste handling.

How does the Distribution segment support its customers?

The Distribution segment supplies vital tools, equipment, and supplies for tire, wheel, and under-vehicle services which are essential for automotive and commercial repair operations.

What role does engineering excellence play in Myers Industries' operations?

Engineering excellence is central to the company, guiding the design, development, and manufacturing of products that meet high durability and performance standards required by diverse industries.

How does Myers Industries differentiate itself from competitors?

The company differentiates itself through its long-standing expertise, diversified product portfolio, and commitment to innovation and quality in manufacturing durable, reusable solutions.

What is the significance of polymer products in the company’s portfolio?

Polymer products are foundational to Myers Industries as they form the core of their reusable containers and structural components, driving cost efficiency and sustainability across multiple market segments.
Myers Inds

NYSE:MYE

MYE Rankings

MYE Stock Data

379.84M
36.65M
1.71%
91.14%
2.04%
Packaging & Containers
Plastics Products, Nec
Link
United States
AKRON