NYSE:MYE

Stock Analysis Report

Executive Summary

Myers Industries, Inc. manufactures and sells polymer products for industrial, agricultural, automotive, commercial, and consumer markets worldwide.

Rewards

Trading at 19.3% below its fair value

Earnings are forecast to grow 32.58% per year

Became profitable this year

Pays a high and reliable dividend of 3.26%

Risk Analysis

Has a high level of debt

Shareholders have been diluted in the past year



Snowflake Analysis

Excellent balance sheet established dividend payer.


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Share Price & News

How has Myers Industries's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: MYE has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

2.6%

MYE

0.6%

US Packaging

0.8%

US Market


1 Year Return

5.8%

MYE

17.4%

US Packaging

25.1%

US Market

Return vs Industry: MYE underperformed the US Packaging industry which returned 18.8% over the past year.

Return vs Market: MYE underperformed the US Market which returned 24.7% over the past year.


Shareholder returns

MYEIndustryMarket
7 Day2.6%0.6%0.8%
30 Day-1.0%-0.4%3.1%
90 Day2.6%2.8%10.9%
1 Year9.1%5.8%20.3%17.4%27.7%25.1%
3 Year32.5%21.3%22.5%14.3%51.3%41.6%
5 Year17.7%0.2%45.7%26.9%77.2%57.6%

Price Volatility Vs. Market

How volatile is Myers Industries's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Myers Industries undervalued compared to its fair value and its price relative to the market?

17.1%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: MYE ($16.55) is trading below our estimate of fair value ($20.52)

Significantly Below Fair Value: MYE is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: MYE is poor value based on its PE Ratio (27.2x) compared to the Packaging industry average (18.8x).

PE vs Market: MYE is poor value based on its PE Ratio (27.2x) compared to the US market (18.9x).


Price to Earnings Growth Ratio

PEG Ratio: MYE is good value based on its PEG Ratio (0.8x)


Price to Book Ratio

PB vs Industry: MYE is overvalued based on its PB Ratio (3.6x) compared to the US Packaging industry average (3.4x).


Next Steps

Future Growth

How is Myers Industries forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

32.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MYE's forecast earnings growth (32.6% per year) is above the savings rate (1.7%).

Earnings vs Market: MYE's earnings (32.6% per year) are forecast to grow faster than the US market (14.3% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: MYE's revenue (2% per year) is forecast to grow slower than the US market (7.5% per year).

High Growth Revenue: MYE's revenue (2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MYE's Return on Equity is forecast to be low in 3 years time (17.6%).


Next Steps

Past Performance

How has Myers Industries performed over the past 5 years?

-10.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MYE has high quality earnings.

Growing Profit Margin: MYE became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: MYE's earnings have declined by -10.5% per year over the past 5 years.

Accelerating Growth: MYE has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: MYE has become profitable in the last year, making it difficult to compare its past year earnings growth to the Packaging industry (-18.3%).


Return on Equity

High ROE: MYE's Return on Equity (13.2%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Myers Industries's financial position?


Financial Position Analysis

Short Term Liabilities: MYE's short term assets ($187.4M) exceed its short term liabilities ($89.3M).

Long Term Liabilities: MYE's short term assets ($187.4M) exceed its long term liabilities ($104.2M).


Debt to Equity History and Analysis

Debt Level: MYE's debt to equity ratio (47.1%) is considered high.

Reducing Debt: MYE's debt to equity ratio has reduced from 157.3% to 47.1% over the past 5 years.

Debt Coverage: MYE's debt is well covered by operating cash flow (85.7%).

Interest Coverage: MYE's interest payments on its debt are well covered by EBIT (9.1x coverage).


Balance Sheet

Inventory Level: MYE has a high level of physical assets or inventory.

Debt Coverage by Assets: MYE's debt is covered by short term assets (assets are 2.4x debt).


Next Steps

Dividend

What is Myers Industries's current dividend yield, its reliability and sustainability?

3.18%

Current Dividend Yield


Dividend Yield vs Market

company3.2%marketbottom25%1.4%markettop25%3.7%industryaverage2.6%forecastin3Years3.2%

Current dividend yield vs market & industry

Notable Dividend: MYE's dividend (3.26%) is higher than the bottom 25% of dividend payers in the US market (1.4%).

High Dividend: MYE's dividend (3.26%) is low compared to the top 25% of dividend payers in the US market (3.66%).


Stability and Growth of Payments

Stable Dividend: MYE's dividends per share have been stable in the past 10 years.

Growing Dividend: MYE's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (87.8%), MYE's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: MYE's dividends in 3 years are forecast to be covered by earnings (60.5% payout ratio).


Next Steps

Management

What is the CEO of Myers Industries's salary, the management and board of directors tenure and is there insider trading?

1.1yrs

Average management tenure


CEO

Andrean Horton (45yo)

0.3yrs

Tenure

US$450,603

Compensation

Ms. Andrean Renee Horton has been Interim President and Chief Executive Officer of Myers Industries, Inc., since October 25, 2019 and its Chief Legal Officer and Secretary since October 08, 2018. She serve ...


CEO Compensation Analysis

Compensation vs Market: Andrean's total compensation ($USD450.60K) is below average for companies of similar size in the US market ($USD1.70M).

Compensation vs Earnings: Insufficient data to compare Andrean's compensation with company performance.


Management Age and Tenure

1.1yrs

Average Tenure

Experienced Management: MYE's management team is not considered experienced ( 1.1 years average tenure), which suggests a new team.


Board Age and Tenure

4.3yrs

Average Tenure

67yo

Average Age

Experienced Board: MYE's board of directors are considered experienced (4.3 years average tenure).


Insider Trading

Insider Buying: MYE insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$162,50019 Nov 19
Ronald De Feo
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares10,000
Max PriceUS$16.25
SellUS$91,71219 Jul 19
Teton Advisors, Inc
EntityCompany
Shares5,000
Max PriceUS$18.34
SellUS$446,74219 Jul 19
GAMCO Investors, Inc.
EntityCompany
Shares179,383
Max PriceUS$19.15

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 10%.


Management Team

  • Mike Valentino

    Group President of Material Handling

    • Andrean Horton (45yo)

      Interim President

      • Tenure: 0.3yrs
      • Compensation: US$450.60k
    • Monica Vinay

      VP of Investor Relations & Treasurer

      • Tenure: 6.5yrs
    • Kevin Brackman (46yo)

      Executive VP & CFO

      • Tenure: 1.1yrs
      • Compensation: US$868.53k
    • Chris DuPaul

      Group President of Distribution

      • Tenure: 2.1yrs
    • Tom Harmon

      VP & Chief Human Resources Officer

      • Tenure: 0.3yrs

    Board Members

    • Bill Foley (71yo)

      Independent Director

      • Tenure: 8.7yrs
      • Compensation: US$224.42k
    • Robert Stefanko (76yo)

      Independent Director

      • Tenure: 13yrs
      • Compensation: US$93.88k
    • Ron De Feo (67yo)

      Independent Director

      • Tenure: 1.4yrs
      • Compensation: US$66.58k
    • Sarah Coffin (67yo)

      Independent Director

      • Tenure: 9.7yrs
      • Compensation: US$233.92k
    • Jane Scaccetti (65yo)

      Independent Director

      • Tenure: 3.8yrs
      • Compensation: US$224.42k
    • Bruce Lisman (72yo)

      Independent Director

      • Tenure: 4.8yrs
      • Compensation: US$242.01k
    • Frederic Liebau (55yo)

      Independent Chairman

      • Tenure: 3.8yrs
      • Compensation: US$296.92k
    • Lori Lutey (55yo)

      Independent Director

      • Tenure: 1.3yrs
      • Compensation: US$53.87k

    Company Information

    Myers Industries, Inc.'s company bio, employee growth, exchange listings and data sources


    Key Information

    • Name: Myers Industries, Inc.
    • Ticker: MYE
    • Exchange: NYSE
    • Founded: 1933
    • Industry: Metal and Glass Containers
    • Sector: Materials
    • Market Cap: US$603.130m
    • Shares outstanding: 35.52m
    • Website: https://www.myersindustries.com

    Number of Employees


    Location

    • Myers Industries, Inc.
    • 1293 South Main Street
    • Akron
    • Ohio
    • 44301
    • United States

    Listings

    TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
    MYENYSE (New York Stock Exchange)YesCommon SharesUSUSDNov 1972
    MJFDB (Deutsche Boerse AG)YesCommon SharesDEEURNov 1972

    Biography

    Myers Industries, Inc. manufactures and sells polymer products for industrial, agricultural, automotive, commercial, and consumer markets worldwide. The company’s Material Handling segment provides plastic reusable material handling containers, pallets, small parts bins, bulk shipping containers, and storage and organization products; rotationally-molded plastic tanks for water, fuel, and waste handling applications; welded steel service carts, platform trucks, mobile work centers, racks, and cabinets; plastic trim and interior parts used in the production of seat components, consoles, and other applications in the recreational vehicle, marine, and industrial markets; and plastic fuel containers, portable marine fuel tanks and water containers, ammunition containers, and storage totes under the Buckhorn, Akro-Mils, Jamco Products, Ameri-Kart, and Scepter brands. This segment serves industrial manufacturing, food processing, retail/wholesale products distribution, agriculture, automotive, recreational vehicles, marine vehicles, healthcare, appliance, bakery, electronics, textiles, consumer, and other industries directly and through distributors. Its Distribution segment offers tire valves and accessories, tire changing and balancing equipment, lifts and alignment equipment, service equipment, hand tools, tire repair and retread equipment and supplies, highway markings, industrial rubber, tire pressure monitoring systems, general shop supplies; and brake, transmission, and service equipment and supplies under the Myers Tire Supply, Myers Tire Supply International, Patch Rubber Company, Elrick, Fleetline, MTS, Phoenix, and Seymoure brands. This segment serves retail tire, truck tire, and auto dealers; commercial auto and truck fleets; general service and repair centers; tire retreaders; governmental agencies; and telecommunications, industrial, road construction, and mining markets. The company was founded in 1933 and is headquartered in Akron, Ohio. 


    Company Analysis and Financial Data Status

    All financial data provided by Standard & Poor's Capital IQ.
    DataLast Updated (UTC time)
    Company Analysis2020/01/21 23:40
    End of Day Share Price2020/01/21 00:00
    Earnings2019/09/30
    Annual Earnings2018/12/31


    Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.