Myers Inds Stock Price, News & Analysis

Myers Industries (NYSE: MYE) has launched a new brand identity to enhance its market presence and align with its 'One Myers' vision. This rebranding includes a master brand, a new logo, and a redesigned website, all aimed at showcasing the company's comprehensive offerings. CEO Mike McGaugh emphasized that this transformation will cultivate a unified company culture, driving innovation and growth in its Material Handling and Distribution segments. The rebranding initiative is backed by extensive market research and expert consultants.

Myers Industries (NYSE: MYE) has acquired the assets of Trilogy Plastics, a custom rotational molder, using its revolving credit facility. This acquisition supports Myers' "One Myers" strategy aimed at enhancing growth through value-added acquisitions. Trilogy, with annual revenues of approximately $35 million, will bolster Myers' rotational molding operations, creating one of the largest manufacturers in the U.S. The transaction is expected to generate cost synergies of about 3% of sales and to be slightly accretive to earnings in 2021.

Myers Industries (NYSE: MYE) will release its financial results for Q2 2021 on August 5, 2021, before market opens. A conference call to discuss the results will occur the same day at 8:30 a.m. ET. Investors can register for the call using a provided link or listen via a live webcast on the company’s website. An archived replay will also be available post-event.

Myers Industries, Inc. (NYSE: MYE) has announced a quarterly cash dividend of $0.135 per share. This dividend is payable on July 2, 2021, to shareholders of record as of June 18, 2021. Myers Industries is a leading manufacturer of polymer products across various markets, including industrial and automotive sectors, and is the largest distributor of tools and equipment for the tire service industry in the U.S.

Myers Industries (NYSE: MYE) reported first-quarter 2021 financial results with net sales rising by $52.2 million (42.7%) to $174.4 million, aided by the Elkhart Plastics acquisition contributing $27.1 million. However, net income per diluted share fell to $0.20 from $0.47 in Q1 2020. Adjusted earnings remained flat at $0.22. Gross profit increased to $50.4 million, but gross margin declined to 28.9% from 34.8%. The company has raised its net sales guidance for 2021, projecting high 30% growth, along with diluted EPS expectations between $0.87 and $1.02.

Myers Industries (NYSE: MYE) will report its first-quarter financial results for the period ended March 31, 2021, on May 6, 2021, before market opening. A conference call to discuss the performance is scheduled for the same day at 8:30 a.m. ET. Investors can join the call through a registration link or via a live webcast on the company’s website. A replay of the teleconference will be available until May 13, 2021. Myers Industries is a leading manufacturer of polymer products and the largest distributor of tire service industry supplies in the U.S.

Myers Industries (NYSE: MYE) has announced a price increase of 9% to 12% on most products in its Material Handling Segment, effective April 1, 2021. This follows a prior increase of 8% on March 1, 2021, due to rising raw material costs, particularly for resin and steel. The price adjustments impact products sold by brands including Akro-Mils, Ameri-Kart, and Scepter, reflecting ongoing challenges in raw material procurement.

Myers Industries (NYSE: MYE) reported its Q4 and full-year 2020 results, highlighting a 17.7% increase in Q4 net sales to $137.5 million, bolstered by the Elkhart Plastics acquisition. However, annual net sales fell 1% to $510.4 million. GAAP income per diluted share from continuing operations was $0.08 in Q4 and $1.02 for the year. Gross profit margin for Q4 decreased to 29% due to rising costs. The company generated $46.5 million in cash flow from operations and aims for long-term growth with its 'One Myers' strategy.

Myers Industries, a manufacturer of polymer products, announced the appointment of Paul Johnson as the new Business Vice President for its Distribution Segment, effective March 15, 2021. Johnson brings over 30 years of automotive industry experience, previously serving as President of International Brake Industries. His leadership is expected to support Myers' goals of organic growth and operational excellence. The company also expressed gratitude to outgoing VP Chris DuPaul for establishing a strong foundation in the segment.