Myers Industries,Inc is an international manufacturer of polymer products for agricultural, automotive, consumer, and industrial markets. The company also manufacturers various types of rubber products used for automotive parts and construction equipment.
They are located in Akron, OH- trading on the NYSE under
MYE and closed January 30th @ $15.08. They had an impressive run in January with their 52 week High of $15.50 coming on Jan 20, 06. Their 52 week Low came on April 28, 05 @ $9.23.
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Myers Industries,Inc has a long history of innovation and achievement. The growth and value of their business is driven by brand strength and market leadership, product innovation, broad capabilities, and other fundamentals that help them contribute to their customers' success.
A
Myers product may touch your life each day.
• North America's dominant manufacturer of plastic flower planters, flats, trays and baskets.
• Manufactures the most comprehensive range of rubber tire repair and retread products in the U.S.
• The leading U.S. wholesale distributor of tools, equipment, and supplies for tire, wheel, and under vehicle service.
• 31
Manufacturing facilities in six countries.
• 39 domestic and five international
Distribution branches
• More than 5,300 employees
On November 1, 05,
Myers announced record net sales of $211 million for their 3rd QTR ending Sept. 30, 2005, the highest 3rd QTR revenues in the Company’s history, and a 6% increase over last year’s 3rd QTR sales of $199 million.
Net income of $4.9 million was also the highest for any 3rd QTR in the Company’s history, delivering an increase of 29% from $3.8 million last year which included a net gain of $.9 million from the sale of a warehouse facility. Net income per share was $.14, an increase of 27% compared with $.11 in the 3rd QTR of 2004.
The year over year improvement in earnings for the 3rd QTR of 2005 reflects the impact of increased selling prices, higher sales volumes, favorable product mix, greater utilization of manufacturing capacity, and additional benefits from ongoing cost control initiatives. These positive factors offset the higher costs for plastic raw materials, which were approximately 10% higher on average.
Usually the 3rd QTR has been the weakest for
Myers but Management says the strong performance this year reflects continued increases in selling prices across their product lines, improved sales volumes in most segments, as well as effective cost control measures and strategic purchasing of plastic raw materials to help mitigate the impact of higher raw material costs.
As the 4th QTR approaches, management anticipates the unprecedented cycle of raw material price increases which were already on the rise in August and could impact the Company’s earnings performance. With the impact of Hurricane Katrina brought a new round of price increases due to damage to the resin producers’ Gulf Coast facilities, which was further exacerbated by Hurricane Rita.
The Company intends to continue its combination of cost reduction activities and product price increases to mitigate the short-term effects of the higher operating cost environment, but remains cautious about the limited visibility as to when this situation will lessen.
Will the higher plastic prices give
Myers a flat or will they continue rolling along to continue record financial performance?
This week Kupsky has been researching 
is approaching a ROI of 
The Bull is on the Move---It's never too late to jump on and Ride!
