MYE | Market Cap: $1.1B (07/13/26)
Industry:
Capital Goods

DESCRIPTION

Myers Industries is an Akron, Ohio-based manufacturer and distributor of plastic, metal, and rubber products, operating through two segments: Material Handling (~75% of revenue) and Distribution (~25%). The Material Handling segment makes engineered polymer products across several brands: Buckhorn makes reusable plastic containers and pallets for closed-loop supply chains; Akro-Mils makes small parts bins and storage products for factory floors and warehouses; Scepter makes consumer fuel containers and lightweight plastic military packaging; Signature Systems makes composite ground protection matting for construction and utility sites; and several brands produce rotationally molded tanks and specialty parts for the RV, marine, and industrial markets. The Distribution segment is the largest U.S. distributor of tools and supplies for the tire service industry, though management is preparing to sell that core business (Myers Tire Supply) as it does not fit the company's focus on engineered plastic products. Patch Rubber, which makes tire repair and retreading products, is excluded from the sale. Myers generates profit primarily by manufacturing and selling physical products at a margin above material and production costs, with profitability driven by volume, product mix, and resin input costs. Management's current strategy centers on simplifying the portfolio around engineered plastics, cutting SG&A costs, and growing in military packaging and composite matting—both of which are program-driven businesses with multi-year revenue visibility.

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