| Valuation method | Value, $ | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | 32.48 | 107 |
| Intrinsic value (DCF) | 0.00 | -100 |
| Graham-Dodd Method | n/a | |
| Graham Formula | 2.10 | -87 |
Myers Industries, Inc. (NYSE: MYE) is a diversified manufacturing and distribution company specializing in plastic and rubber products for industrial, commercial, and consumer markets. Operating through its Material Handling and Distribution segments, Myers Industries serves industries such as automotive, agriculture, retail, healthcare, and government agencies. The Material Handling segment produces plastic storage and organization solutions, including pallets, bins, and bulk containers under well-known brands like Akro-Mils, Buckhorn, and Scepter. The Distribution segment focuses on tire service equipment, repair materials, and undervehicle service tools, catering to tire dealers, fleet operators, and repair centers. Headquartered in Akron, Ohio, Myers Industries has built an 90-year legacy of innovation and reliability in the packaging and containers sector. With a market cap of approximately $450 million, the company combines niche manufacturing expertise with a broad distribution network, positioning it as a key player in the consumer cyclical space.
Myers Industries presents a mixed investment profile. On the positive side, the company operates in stable end markets with recurring demand for its material handling and tire service products. Its diversified customer base and strong brand recognition (e.g., Akro-Mils, Scepter) provide some resilience against economic cycles. However, the company's modest net income ($7.2M in latest reporting) and elevated debt-to-equity ratio (total debt of $414M vs. cash of $32M) raise concerns about financial flexibility. The 1.097 beta suggests market-average volatility, while the 2.8% dividend yield (based on $0.54 annual payout) offers income appeal. Investors should watch for margin improvements in its plastic molding operations and growth in higher-margin custom solutions.
Myers Industries competes through a dual strategy of manufacturing specialization and distribution reach. In Material Handling, its vertically integrated plastic molding capabilities (injection, rotational, blow molding) allow for cost-efficient production of high-volume containers while maintaining customization flexibility for industrial clients—a key advantage against generic import competitors. The Akro-Mils and Buckhorn brands command premium positioning in workplace organization products. In Distribution, Myers' focus on tire service tools creates a niche moat, with long-standing relationships with commercial fleets and dealerships. However, the company faces pressure from larger packaging rivals with greater scale (e.g., Berry Global) and e-commerce disruption in distribution. Its $836M revenue base is modest compared to sector leaders, limiting R&D spending. The 2022 acquisition of Trilogy Plastics expanded high-value medical and aerospace capabilities, but integration risks remain. Geographically, Myers is underpenetrated in Asia-Pacific markets where competitors like ORBIS Corporation (a subsidiary of Menasha) have stronger footprints. Sustainability initiatives around recycled materials lag best-in-class peers.