Myers Industries, Inc. (MYE): History, Ownership, Mission, How It Works & Makes Money

You see Myers Industries, Inc. (MYE) as a quiet industrial player, but how does a company with a current market capitalization of nearly $647 million and trailing twelve-month revenue of $820 million stay relevant in a volatile market?

This isn't just about plastic bins and tire supplies; it's about a focused transformation that drove a 5.3% increase in gross profit to $68.57 million in Q3 2025 alone, plus a commitment to realize $20 million in annualized cost savings by year-end.

With institutional giants like BlackRock, Inc. holding a significant stake, the market is defintely watching their pivot toward engineered plastic solutions and infrastructure growth-so, are you positioned to capitalize on their strategic shifts?

Myers Industries, Inc. (MYE) History

You're looking for the foundational story of Myers Industries, Inc., and honestly, it's a classic American tale of grit and smart diversification. What started with a small loan during the Great Depression has evolved into a polymer manufacturing and distribution powerhouse. The core takeaway is this: the company's 90-year history is a masterclass in shifting from a single-product distributor to a multi-segment manufacturer, a strategy that continues today with the planned divestiture of its original business.

Given Company's Founding Timeline

Year established

1933

Original location

Akron, Ohio

Founding team members

The company was a partnership started by two brothers, Meyer Myers and Louis Myers, with a third brother, Isidore Myers, joining the enterprise in 1939.

Initial capital/funding

The initial investment to start Myers Tire Supply was a modest $620, a sum scraped together to buy tire repair merchandise and a used truck.

Given Company's Evolution Milestones

Given Company's Transformative Moments

The company's trajectory hasn't been a straight line; it's been a series of deliberate, transformative decisions. The biggest one? Moving beyond the tire shop.

The shift in the 1940s from pure distribution to manufacturing with Patch Rubber Company and Akro-Mils was defintely the first major pivot. It created a bipolar nature-distribution and manufacturing-that defined Myers Industries for decades.

In the 2020s, the company initiated a new era of focused transformation, which is the most critical near-term action for you to watch. This involves simplifying the portfolio to prioritize higher-growth, higher-margin polymer businesses.

• Divestiture of the Original Business: In Q3 2025, the company announced the strategic review and planned sale of the Myers Tire Supply business, the very operation the founders started with. This is a clear signal: the future is in polymer manufacturing, not distribution.
• Cost and Operational Focus: Management committed to delivering $20 million in annualized cost savings, primarily in selling, general, and administrative (SG&A) expenses, by the end of 2025. They are consolidating rotational molding production to better utilize assets.
• Strategic Growth Areas: The focus on specialized polymer products is paying off, with military product sales expected to exceed $40 million for the full year 2025, a strong tailwind in the Industrial segment.

This focus is already showing up in the financials. The trailing twelve-month revenue as of September 30, 2025, hit $826 million, with Q3 2025 net income at $7.09 million. The new strategy is about maximizing returns from the manufacturing core. For a deeper dive into the guiding principles behind these decisions, you can read the Mission Statement, Vision, & Core Values of Myers Industries, Inc. (MYE).

Myers Industries, Inc. (MYE) Ownership Structure

Myers Industries, Inc. is overwhelmingly controlled by institutional money, a common structure for mid-cap industrial companies, but still maintains a significant stake held by the founding family. This dynamic creates a balance between the short-term performance demands of Wall Street and the long-term, legacy-minded interests of its original stakeholders.

Given Company's Current Status

As of November 2025, Myers Industries, Inc. (MYE) is a publicly held corporation, trading on the New York Stock Exchange (NYSE). The company's total shares outstanding hover around 37.4 million, with a market capitalization of approximately $651 million. This public status means its governance is subject to SEC regulations and its decision-making is heavily influenced by the major institutional investors who hold the vast majority of its stock.

For a company focused on polymer and metal products, this high institutional ownership-often exceeding 90% in recent filings-signals a belief in the company's Mission Statement, Vision, & Core Values of Myers Industries, Inc. (MYE). and its Focused Transformation program, which is targeting $20 million in cost savings by the end of 2025. It's a tight float, defintely, which can amplify stock price movements.

Given Company's Ownership Breakdown

The company's ownership structure is dominated by large investment firms, pension funds, and ETFs, which collectively own over 90% of the common stock. This is a crucial data point for understanding who holds the most sway in shareholder votes and strategic direction.

Here's the quick math: With institutional ownership at 90.82% and insider ownership at 1.85%, the public float available to retail investors is just 7.33%. The largest individual shareholder, Mary S. Myers, holds a 19.30% stake, which is often grouped with insider holdings due to her influence, even if the general insider percentage is lower.

Given Company's Leadership

The leadership team, which took shape with key appointments in 2025, is focused on executing the company's strategic transformation. The Board of Directors and executive team are responsible for steering the company's two main segments: Material Handling and Distribution.

• Aaron M. Schapper: President and Chief Executive Officer (CEO), appointed effective January 1, 2025, leading the company's strategic shift.
• Samantha Rutty: Executive Vice President and Chief Financial Officer (CFO), appointed effective September 22, 2025, and recently made an open-market stock purchase in November 2025.
• Kari (Potts) Brashear: Chief Legal Officer, Corporate Secretary, and Senior Vice President of Business Development, with an effective start date of December 1, 2025.
• F. Jack Liebau, Jr.: Chairman of the Board, providing oversight and direction to the executive management team.

The Board also welcomed Helmuth Ludwig as a new Director in October 2025, who also bought 5,000 shares of stock in November 2025, signaling confidence from the top.

Myers Industries, Inc. (MYE) Mission and Values

Myers Industries, Inc. is focused on more than just moving plastic and metal; its mission centers on delivering innovative, sustainable polymer solutions and distribution services that create tangible value for all stakeholders. The company's cultural DNA is built on a 'Focused Transformation' initiative, which is a defintely clear roadmap for operational excellence and disciplined capital use in 2025.

Myers Industries' Core Purpose

You need to understand what drives a company beyond its quarterly earnings, and for Myers Industries, it's a dual commitment: providing critical, protective products and streamlining the supply chain for the automotive aftermarket. This focus is what guides their capital allocation, like the launch of a $10 million 2025 Share Repurchase Program.

Official mission statement

The mission is precise: to deliver innovative and sustainable polymer solutions and essential distribution services, creating value for customers and stakeholders. This isn't corporate fluff; it maps directly to their two core segments, Material Handling and Distribution.

• Deliver innovative and sustainable polymer solutions.
• Provide essential distribution services.
• Create value for customers and stakeholders.

Vision statement

The company's vision is a forward-looking mandate for change and customer-centricity, aimed at redefining how they operate and grow. It's about continuous improvement, not resting on their history.

• Transform the way we grow and innovate.
• Provide the best solutions for our customers.

This vision is being executed with a clear financial target: achieving $20 million in annualized cost savings, primarily in Selling, General, and Administrative (SG&A) expenses, by the end of 2025.

Myers Industries' Core Values

The core values are the engine of their 'Focused Transformation,' emphasizing accountability and a performance culture. They are the non-negotiable standards for how the company operates, especially as they navigate the strategic review of their Myers Tire Supply business.

• Integrity: Uphold the highest ethical standards in all situations.
• Customer Focus: Understand and meet customer needs to build trust.
• Deliver Results: Take ownership of goals and drive exceptional outcomes.
• Continuous Improvement: Embrace change and apply lean thinking.

For a deeper dive into how these values manifest in their shareholder base, you should be Exploring Myers Industries, Inc. (MYE) Investor Profile: Who's Buying and Why?

Myers Industries' slogan/tagline

While the original 1933 slogan was 'Everything for the Tire Dealer,' the modern, unifying theme across the diversified product portfolio is much broader and more descriptive of their protective products.

• Products that protect the world from the ground up.

This simple tagline captures the essence of their business, from material handling containers to infrastructure matting, which drove strong growth in Q3 2025 net sales of $205.4 million.

Myers Industries, Inc. (MYE) How It Works

Myers Industries, Inc. operates by manufacturing and distributing a diverse portfolio of engineered plastic and metal products, essentially providing the critical containment and protection solutions that keep global supply chains and infrastructure functional. The company makes money by leveraging its specialized rotational molding and blow molding expertise across two main segments, which generated a trailing twelve months revenue of approximately $825.64 million through September 30, 2025.

Myers Industries, Inc.'s Product/Service Portfolio

The company's operations are split into the higher-margin Material Handling segment and the Distribution segment, which is currently undergoing a strategic review. The Material Handling segment, which saw net sales of $153.5 million in Q3 2025, is the core value driver.

Myers Industries, Inc.'s Operational Framework

The operational framework focuses on manufacturing excellence and cost discipline, encapsulated in the 'Focused Transformation' program. Myers Industries creates value by converting raw plastic and metal into highly engineered, durable products.

• Manufacturing Consolidation: The company idled two rotational molding production facilities in Alliance, Ohio, in 2025, consolidating output to improve asset utilization and realize at least $3 million in annualized savings.
• Cost Optimization: A key driver of improved profitability, the company has identified $19 million of structural cost reductions and is on track to deliver $20 million in annualized savings, primarily in Selling, General, and Administrative (SG&A) expenses, by year-end 2025.
• Domestic Supply Chain: Over 90% of the Material Handling segment's revenue is expected to be manufactured domestically, which defintely helps mitigate global supply chain volatility and transportation costs.
• Cash Generation: The focus on working capital management led to a significant jump in free cash flow, which doubled year-over-year to $21.5 million in the third quarter of 2025.

Myers Industries, Inc.'s Strategic Advantages

Myers Industries' success is tied to its position as a specialized manufacturer with a clear focus on high-value, non-cyclical end markets like Infrastructure and Defense. You can see the impact of these moves in the Q3 2025 results.

• Defense Market Penetration: The Scepter brand is a critical supplier to the U.S. military, with military product sales on track to exceed $40 million in 2025, a high-margin, stable revenue stream.
• Infrastructure Tailwinds: The Signature Systems brand benefits from strong government and private infrastructure spending, providing specialized ground protection that is essential for large-scale construction.
• Product Innovation: The ability to substitute traditional materials like steel and wood with advanced, sustainable plastic and metal products gives them a competitive edge in durability and weight.
• Portfolio Optimization: The strategic review and planned sale of the Distribution segment's Myers Tire Supply business will simplify the portfolio and allow for a sharper capital allocation focus on the higher-growth Material Handling segment.

Here's the quick math: The Material Handling segment's Q3 2025 operating income margin was 17.3%, significantly stronger than the Distribution segment's 1.6%, justifying the portfolio shift. To be fair, the distribution business is a drag on overall profitability, but the sale should clean that up. For a deeper dive into the numbers, check out Breaking Down Myers Industries, Inc. (MYE) Financial Health: Key Insights for Investors.

Myers Industries, Inc. (MYE) How It Makes Money

Myers Industries, Inc. generates revenue primarily by manufacturing and selling durable, sustainable plastic and metal products for the Material Handling segment, plus distributing equipment and supplies for the tire service industry through its Distribution segment. The company's financial health in 2025 shows a clear pivot toward the higher-margin Material Handling business, driven by strong demand in infrastructure and military applications.

Myers Industries, Inc.'s Revenue Breakdown

In the third quarter of 2025, which ended September 30, 2025, Myers Industries reported total net sales of $205.4 million, with the vast majority coming from its core manufacturing operations. The Material Handling segment is the clear financial engine, while the Distribution segment is undergoing a strategic review for potential divestiture.

Here's the quick math: Material Handling sales were $153.5 million in Q3 2025, showing a 1.9% year-over-year increase, while Distribution sales were $52.0 million, a 4.4% decline.

Business Economics

The core economic model for Myers Industries is shifting from a mixed manufacturing and distribution model to a focused, high-margin manufacturing business, which they call the Focused Transformation program. This strategy prioritizes the Material Handling segment, which benefits from specialized, long-life plastic and metal products.

• Pricing Power: The Material Handling segment, specifically its Signature Systems (composite matting) and Scepter military products, demonstrates pricing resilience, helping to drive gross profit growth through a favorable product mix.
• Cost Fundamentals: Gross profit increased by 5.3% in Q3 2025, reaching $68.6 million, largely due to cost productivity and lower raw material costs, which is a significant tailwind in the plastics industry.
• Strategic Divestiture: The company initiated a sale process for its Myers Tire Supply business (the Distribution segment) in 2025. This action is designed to simplify the portfolio and eliminate a drag on overall profitability, as the Distribution segment's adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) margin was only 3.2% in Q3 2025, compared to 24.0% for Material Handling.
• Operational Efficiency: Myers Industries is on track to deliver $20 million in annualized cost savings, primarily in SG&A (Selling, General, and Administrative expenses), by the end of 2025, which defintely boosts the bottom line.

Myers Industries, Inc.'s Financial Performance

You can see the results of the strategic shift in the Q3 2025 numbers. The company is showing operational leverage, turning a slight increase in net sales into a much larger increase in operating income and cash flow. For a deeper dive into the balance sheet, check out Breaking Down Myers Industries, Inc. (MYE) Financial Health: Key Insights for Investors.

• Profitability Turnaround: Operating income saw a notable turnaround, swinging to $17.7 million in Q3 2025 from a loss in the prior year, with Net Income reaching $7.1 million.
• Margin Expansion: Gross Margin improved significantly to 33.4% in the third quarter of 2025, up from 31.8% in the same period a year earlier, reflecting better product mix and cost control.
• Cash Generation: Free Cash Flow (FCF) was exceptionally strong, more than doubling year-over-year to $21.5 million in Q3 2025, a critical indicator of working capital discipline.
• Balance Sheet Health: Total liquidity stood at $292.7 million as of September 30, 2025, and the company reduced its total debt, bringing the net leverage ratio down to a manageable 2.6x.

Myers Industries, Inc. (MYE) Market Position & Future Outlook

Myers Industries, Inc. is a focused industrial manufacturer navigating a mixed demand environment by aggressively streamlining its portfolio and operations, aiming to unlock greater profitability from its core Material Handling segment. The company's commitment to its 'Focused Transformation' initiative, which targets $20 million in annualized cost savings by the end of 2025, positions it for margin expansion despite a flat top-line, with TTM revenue holding at approximately $825.64 million as of late 2025.

Competitive Landscape

Myers Industries operates as a niche player within the highly fragmented, multi-billion dollar industrial plastic products and material handling market. While its total market share is small compared to global giants, its strength lies in select, high-value product categories like military products and infrastructure solutions.

Opportunities & Challenges

The company's strategic review and cost-reduction efforts are clear actions to improve its financial profile. Here's the quick math: the $20 million in cost savings is a significant boost against its trailing twelve-month net income of approximately $7.09 million (Q3 2025 net income annualized as a rough proxy), so the impact is defintely material.

Industry Position

Myers Industries is a small-cap industrial stock with a market capitalization of approximately $0.63 billion as of November 2025, positioning it well below the multi-billion dollar valuations of its larger peers like Berry Global Group. Its core strength is its Material Handling segment, which accounts for about 75% of total sales and delivered net sales of $153.5 million in Q3 2025, demonstrating its ability to generate value from its specialized product lines.

The company is focusing on what it can control: operational efficiency and portfolio optimization. The idling of two rotational molding production facilities is a concrete step toward aligning operations with market demand and securing the planned cost reductions. You can dive deeper into the institutional interest in this niche player by Exploring Myers Industries, Inc. (MYE) Investor Profile: Who's Buying and Why?

• The Material Handling segment's operating income saw a substantial rise in Q3 2025, offsetting challenges in the Distribution segment.
• Total liquidity remains healthy at $292.7 million as of Q3 2025, providing a buffer for strategic investments and share repurchases.
• Analysts currently hold a consensus 'Hold' rating on MYE shares, with an average price target of $21.00, suggesting a modest upside of over 21% from the late-October 2025 price of $17.33.