Myers Industries (MYE) 10-Q 8 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	Apr. 28, 2017
Document And Entity Information [Abstract]
Entity Registrant Name	MYERS INDUSTRIES INC
Entity Central Index Key	69,488
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		30,079,186

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Income Statement [Abstract]
Net sales	$ 141,703	$ 151,205
Cost of sales	99,700	103,034
Gross profit	42,003	48,171
Selling, general and administrative expenses	34,645	38,497
Impairment charges	0	8,545
Operating income	7,358	1,129
Interest expense, net	1,975	2,019
Income (loss) from continuing operations before income taxes	5,383	(890)
Income tax expense	2,255	2,446
Income (loss) from continuing operations	3,128	(3,336)
Income (loss) from discontinued operations, net of income tax	(14)	(57)
Net income (loss)	$ 3,114	$ (3,393)
Income (loss) per common share from continuing operations:
Basic	$ 0.10	$ (0.11)
Diluted	0.10	(0.11)
Income (loss) per common share from discontinued operations:
Basic	0	0
Diluted	0	0
Net income (loss) per share:
Basic	0.10	(0.11)
Diluted	0.10	(0.11)
Dividends declared per share	$ 0.14	$ 0.14

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss)	$ 3,114	$ (3,393)
Other comprehensive income
Foreign currency translation adjustment	901	4,915
Total other comprehensive income	901	4,915
Comprehensive income	$ 4,015	$ 1,522

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Financial Position - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Current Assets
Cash	$ 7,325	$ 7,888
Restricted cash	8,637	8,635
Accounts receivable, less allowances of $1,541 and $1,563, respectively	75,582	73,818
Inventories
Finished and in-process products	32,857	31,826
Raw materials and supplies	17,665	14,197
Inventory net	50,522	46,023
Prepaid expenses and other assets	2,764	4,787
Total Current Assets	144,830	141,151
Other Assets
Goodwill	59,306	59,219
Intangible assets, net	45,884	47,994
Deferred income taxes	252	216
Notes receivable	18,367	18,275
Other	3,784	3,347
Total other non current assets	127,593	129,051
Property, Plant and Equipment, at Cost
Land	8,960	8,916
Buildings and leasehold improvements	66,004	65,566
Machinery and equipment	311,640	319,606
Property, Plant and Equipment, at cost	386,604	394,088
Less allowances for depreciation and amortization	(281,178)	(282,606)
Property, plant and equipment, net	105,426	111,482
Total Assets	377,849	381,684
Current Liabilities
Accounts payable	56,654	48,988
Accrued expenses
Employee compensation	13,089	11,861
Income taxes	111	0
Taxes, other than income taxes	2,169	2,178
Accrued interest	1,381	3,202
Other	12,780	13,083
Total Current Liabilities	86,184	79,312
Long-term debt	179,571	189,522
Other liabilities	7,923	9,235
Deferred income taxes	10,527	10,582
Shareholders’ Equity
Serial Preferred Shares (authorized 1,000,000 shares; none issued and outstanding)	0	0
Common Shares, without par value (authorized 60,000,000 shares; outstanding 30,055,109 and 30,019,561; net of treasury shares of 7,897,348 and 7,932,896, respectively)	18,268	18,234
Additional paid-in capital	202,724	202,033
Accumulated other comprehensive loss	(33,273)	(34,174)
Retained deficit	(94,075)	(93,060)
Total Shareholders’ Equity	93,644	93,033
Total Liabilities and Shareholders’ Equity	$ 377,849	$ 381,684

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Financial Position (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Current Assets
Allowances for accounts receivable	$ 1,541	$ 1,563
Shareholders’ Equity
Preferred Shares, shares authorized (in shares)	1,000,000	1,000,000
Preferred Shares, shares issued (in shares)	0	0
Preferred Shares, shares outstanding (in shares)	0	0
Common Shares, shares authorized (in shares)	60,000,000	60,000,000
Common Shares, shares outstanding (in shares)	30,055,109	30,019,561
Common shares, treasury (in shares)	7,897,348	7,932,896

Condensed Consolidated Stateme6

Condensed Consolidated Statement of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Shares [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Deficit [Member]
Beginning balance at Dec. 31, 2015				$ (39,110)
Stockholders' Equity [Roll Forward]
Net income (loss)	$ (3,393)
Foreign currency translation adjustment	4,915
Ending balance at Mar. 31, 2016				(34,195)
Beginning balance at Dec. 31, 2016	93,033	$ 18,234	$ 202,033	(34,174)	$ (93,060)
Stockholders' Equity [Roll Forward]
Net income (loss)	3,114	0	0	0	3,114
Foreign currency translation adjustment	901	0	0	901	0
Shares issued under incentive plans, net of shares withheld for tax	(24)	34	(58)	0	0
Stock compensation expense	749	0	749	0	0
Declared dividends - $.14 per share	(4,129)	0	0	0	(4,129)
Ending balance at Mar. 31, 2017	$ 93,644	$ 18,268	$ 202,724	$ (33,273)	$ (94,075)

Condensed Consolidated Stateme7

Condensed Consolidated Statement of Shareholders' Equity (Parenthetical)	3 Months Ended
	Mar. 31, 2017$ / shares
Dividends declared per share (in dollars per share)	$ 0.14
Retained Deficit [Member]
Dividends declared per share (in dollars per share)	$ 0.14

Condensed Consolidated Stateme8

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash Flows From Operating Activities
Net income (loss)	$ 3,114	$ (3,393)
Income (loss) from discontinued operations, net of income tax	(14)	(57)
Income (loss) from continuing operations	3,128	(3,336)
Adjustments to reconcile income (loss) from continuing operations to net cash provided by (used for) operating activities
Depreciation	6,082	6,000
Amortization	2,436	2,499
Accelerated depreciation associated with restructuring activities	618	0
Non-cash stock-based compensation expense	894	1,282
(Gain) loss on fixed asset sales	(1,008)	0
Deferred taxes	101	(967)
Excess tax benefit from stock-based compensation	0	106
Accrued interest income on note receivable	(322)	(301)
Impairment charges	0	8,545
Other	109	214
Payments on performance based compensation	(992)	(1,699)
Other long-term liabilities	(59)	427
Cash flows provided by (used for) working capital
Accounts receivable	(1,799)	(6,766)
Inventories	(4,403)	(4,774)
Prepaid expenses and other assets	2,030	1,143
Accounts payable and accrued expenses	6,234	(13,690)
Net cash provided by (used for) operating activities - continuing operations	13,049	(11,317)
Net cash provided by (used for) operating activities - discontinued operations	0	0
Net cash provided by (used for) operating activities	13,049	(11,317)
Cash Flows From Investing Activities
Capital expenditures	(498)	(7,140)
Proceeds from sale of property, plant and equipment	1,117	6
Proceeds (payments) related to sale of business	0	(4,034)
Net cash provided by (used for) investing activities - continuing operations	619	(11,168)
Net cash provided by (used for) investing activities - discontinued operations	0	0
Net cash provided by (used for) investing activities	619	(11,168)
Cash Flows From Financing Activities
Net borrowing (repayments) on credit facility	(9,310)	24,999
Cash dividends paid	(4,089)	(4,079)
Proceeds from issuance of common stock	247	47
Excess tax benefit from stock-based compensation	0	(106)
Repurchase of common stock	0	0
Shares withheld for employee taxes on equity awards	(271)	(502)
Deferred financing costs	(975)	0
Net cash provided by (used for) financing activities - continuing operations	(14,398)	20,359
Net cash provided by (used for) financing activities - discontinued operations	0	0
Net cash provided by (used for) financing activities	(14,398)	20,359
Foreign exchange rate effect on cash	167	383
Net increase (decrease) in cash	(563)	(1,743)
Cash at January 1	7,888	7,344
Cash at March 31	$ 7,325	$ 5,601

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Summary of Significant Accounting Policies	1. Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements include the accounts of Myers Industries, Inc. and all wholly owned subsidiaries (collectively, the “Company”), and have been prepared without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures are adequate to make the information not misleading. These interim financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s annual report on Form 10-K for the year ended December 31, 2016. In the opinion of the Company, the accompanying condensed consolidated financial statements contain all adjustments (consisting of normal recurring accruals) necessary to present fairly the financial position as of March 31, 2017, and the results of operations and cash flows for the periods presented. The results of operations for the three months ended March 31, 2017 are not necessarily indicative of the results of operations that will occur for the year ending December 31, 2017. Accounting Standards Adopted In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09, Compensation - Stock Compensation - Improvements to Employee Share-Based Payment Accounting Accounting Standards Not Yet Adopted In March 2017, the FASB issued ASU 2017-07, Compensation – Retirement Benefits (Topic 715) – Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. In January 2017 , the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350) - Simplifying the Test for Goodwill Impairment. This ASU eliminates Step 2 of the goodwill impairment test and requires goodwill impairment to be measured as the amount by which a reporting unit’s carrying amount exceeds its fair value, not to exceed the carrying amount of its goodwill. The ASU is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. The guidance allows for early adoption for impairment testing dates after January 1, 2017. While the Company is currently evaluating the timing of adoption, it does not believe that the adoption of this guidance will have a material impact on its consolidated financial statements. In November 2016, the FASB issued ASU 2016 -18, Statement of Cash Flows (Topic 230) - Restricted Cash . This ASU requires that companies include amounts generally described as restricted cash and restricted cash equivalents, along with cash and cash equivalents, when reconciling the beginning-of-period and end-of-period amounts shown on the statement of cash flows. The ASU is effective for annual reporting periods beginning after December 15, 2017 and interim periods within those annual periods. In October 2016, the FASB issued ASU 2016-16, Accounting for Income Taxes: Intra-Entity Transfers of Assets Other Than Inventory (Topic 740) those annual periods. The Company is currently evaluating the impact this standard will have on its consolidated financial statements. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows – Classification of Certain Cash Receipts and Cash Payments In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers The new guidance also includes enhanced disclosure requirements, and is effective January 1, 2018, with early adoption permitted for January 1, 2017. Entities have the option to apply the new guidance under a retrospective approach to each prior reporting period presented, or a modified retrospective approach with the cumulative effect of initially applying the new guidance recognized at the date of initial application within the Consolidated Statements of Shareholders’ Equity. The Company plans to adopt the new guidance effective January 1, 2018 under the modified retrospective approach and Translation of Foreign Currencies All asset and liability accounts of consolidated foreign subsidiaries are translated at the current exchange rate as of the end of the accounting period and income statement items are translated monthly at an average currency exchange rate for the period. The resulting translation adjustment is recorded in other comprehensive income (loss) as a separate component of shareholders' equity. Fair Value Measurement The Company follows guidance included in the Accounting Standards Codification (“ASC”) 820, Fair Value Measurements and Disclosures Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2: Unadjusted quoted prices in active markets for similar assets or liabilities, unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active or inputs that are observable either directly or indirectly. Level 3: Unobservable inputs for which there is little or no market data or which reflect the entity’s own assumptions. The Company has financial instruments, including cash, accounts receivable, accounts payable and accrued expenses. The fair value of these financial instruments approximate carrying value due to the nature and relative short maturity of these assets and liabilities. The fair value of debt under the Company’s Loan Agreement, as defined in Note 11, approximates carrying value due to the floating rates and relative short maturity (less than 90 days) of the revolving borrowings under this agreement. The fair value of the Company’s fixed rate senior unsecured notes was estimated using market observable inputs for the Company’s comparable peers with public debt, including quoted prices in active markets and interest rate measurements which are considered level 2 inputs. At March 31, 2017 and December 31, 2016, the aggregate fair value of the Company's $100.0 million fixed rate senior unsecured notes was estimated at $99.3 million and $98.0 million, respectively. Revenue Recognition The Company recognizes revenues from the sale of products, net of actual and estimated returns, at the point of passage of title and risk of loss, which is generally at time of shipment, and collectability of the fixed or determinable sales price is reasonably assured. Accumulated Other Comprehensive Income (Loss) Changes in accumulated other comprehensive income (loss) are as follows: Foreign Currency Defined Benefit Pension Plans Total Balance at January 1, 2017 $ (32,342 ) $ (1,832 ) $ (34,174 ) Other comprehensive income before reclassifications 901 — 901 Net current-period other comprehensive income 901 — 901 Balance at March 31, 2017 $ (31,441 ) $ (1,832 ) $ (33,273 ) Balance at January 1, 2016 $ (37,447 ) $ (1,663 ) $ (39,110 ) Other comprehensive income before reclassifications 4,915 — 4,915 Net current-period other comprehensive income 4,915 — 4,915 Balance at March 31, 2016 $ (32,532 ) $ (1,663 ) $ (34,195 ) Cash and Cash Equivalents The Company considers all highly liquid instruments purchased with a maturity of three months or less to be cash equivalents. Cash equivalents are stated at cost, which approximates market value. The Company maintains operating cash and reserves for replacement balances in financial institutions which, from time to time, may exceed federally insured limits. The Company periodically assesses the financial condition of these institutions and believes that the risk of loss is minimal.

Impairment Charges

Impairment Charges	3 Months Ended
	Mar. 31, 2017
Asset Impairment Charges [Abstract]
Impairment Charges	2. Impairment Charges During the first quarter of 2016, the Company reviewed its long-lived assets, intangible assets and goodwill at Plasticos Novel do Nordeste S.A. (“Novel”), a reporting unit within the Material Handling Segment for impairment. The testing for impairment was performed as a result of the presence of impairment indictors resulting from the communication of a reduction in capital spending in the near-term from a significant customer in March 2016, which resulted in a significant reduction in Novel’s forecasted revenue and income. The Company first conducted a review for impairment of indefinite-lived intangibles and other long-lived assets related to Novel, including amortizable intangible assets and fixed assets which indicated that the carrying amounts of such assets may not be recoverable and required an assessment of fair value of the assets for purposes of measuring an impairment charge. The estimated fair value of indefinite-lived intangibles was determined using a relief from royalty payments income approach and the other long-lived assets was determined, in part, using an analysis of projected cash flows, a market approach and a cost approach. These valuation methods use Level 3 inputs under the fair value hierarchy discussed in Note 1. To test for potential impairment for goodwill, the Company performed an interim impairment test as of March 31, 2016. The step one goodwill impairment test was performed using a discounted cash flow (“DCF”) valuation model. The significant assumptions in the DCF model are the annual revenue growth rate, the annual operating income margin and the discount rate used to determine the present value of the cash flow projections. The discount rate was based on the estimated weighted average cost of capital as of the testing date for market participants in the industry in which the Novel reporting unit operates. Based on the estimated fair value generated by the DCF model, the Novel reporting unit’s fair value did not exceed its carrying value as of March 31, 2016 and therefore a step two analysis was required to be performed. The decline in fair value of the reporting unit resulted primarily from lower projected operating results and cash flows than those utilized from the 2015 annual impairment test, directly related to the triggering event outlined above. During the first quarter of 2016, a step two analysis was performed to allocate estimated fair value to assets and liabilities in order to estimate an implied value of goodwill. As a result of these impairment reviews, the Company concluded that the goodwill, intangibles and other long-lived assets related to Novel were impaired and recorded a non-cash impairment charge of $8.5 million, which was reported in impairment charges in the Condensed Consolidated Statements of Operations (Unaudited) in the first quarter of 2016.

Discontinued Operations

Discontinued Operations	3 Months Ended
	Mar. 31, 2017
Discontinued Operations And Disposal Groups [Abstract]
Discontinued Operations	3. Discontinued Operations On February 17, 2015, the Company sold its Lawn and Garden business to an entity controlled by Wingate Partners V, L.P., a private equity firm, for $110.0 million, subject to a working capital adjustment. The terms of the agreement include a $90.0 million cash payment, promissory notes totaling $20.0 million that mature in August 2020 with a 6% interest rate, and approximately $8.6 million placed in escrow that was due to be settled by August 2016, but has been extended until indemnification claims are resolved, as described in Note 10 - Contingencies. The fair market value of the notes at February 17, 2015 was $17.8 million and is included in Notes Receivable in the accompanying Condensed Consolidated Statements of Financial Position (Unaudited), in which the carrying value of $18.4 million represents the fair value at date of sale plus accretion as of March 31, 2017. The fair value of the notes receivable was calculated using level 2 inputs as defined in Note 1. The final working capital adjustment resulted in a cash payment to the buyer of approximately $4.0 million in the first quarter of 2016.

Restructuring

Restructuring	3 Months Ended
	Mar. 31, 2017
Restructuring And Related Activities [Abstract]
Restructuring	4. Restructuring On March 9, 2017, the Company announced a restructuring plan (the “Plan”) to improve the Company’s organizational structure and operational efficiency within the Material Handling Segment. In connection with the Plan, the Company expects to record restructuring charges of approximately $10 million in 2017; of this amount, the Company expects restructuring-related costs such as equipment relocation, facility shutdown and other implementation costs of about $5.5 million and employee severance and other employee-related costs of approximately $2.5 million. Non-cash charges relating to these restructuring actions, primarily accelerated depreciation charges and potential impairment of property, plant and equipment, are expected to be approximately $2.0 million. Actions under the Plan are expected to be substantially completed by the end of 2017. In the first quarter of 2017, the Company recognized a gain of $0.8 million on asset dispositions in connection with closing a manufacturing plant in Bluffton, Indiana. Restructuring and accelerated depreciation charges related to this plant and recognized in the first quarter of 2017 of $0.9 million were included in Cost of Sales in the accompanying Condensed Consolidated Statements of Operations (Unaudited). The table below summarizes restructuring activity for the three months ended March 31, 2017: Employee Reduction Accelerated Depreciation Other Costs Total Balance at January 1, 2017 $ — $ — $ — $ — Charges to expense 224 618 12 854 Cash payments — — — — Non-cash utilization — (618 ) — (618 ) Balance at March 31, 2017 $ 224 $ — $ 12 $ 236

Inventories

Inventories	3 Months Ended
	Mar. 31, 2017
Inventory Disclosure [Abstract]
Inventories	5. Inventories Inventories are valued at the lower of cost or market for last-in, first-out (“LIFO”) inventory and lower of cost or net realizable value for first-in, first-out (“FIFO”) inventory. Approximately 40 percent of our inventories are valued using the LIFO method of determining cost. All other inventories are valued at the FIFO method of determining cost. An actual valuation of inventory under the LIFO method can be made only at the end of each year based on inventory levels and costs at that time. Accordingly, interim LIFO calculations must necessarily be based on management’s estimates of expected year-end inventory levels and costs. Because these are based on estimates, interim results, which were immaterial, are subject to change in the final year-end LIFO inventory valuation and therefore, no adjustment was recorded as of March 31, 2017, as consistent with prior interim reporting periods.

Other Accrued Expenses

Other Accrued Expenses	3 Months Ended
	Mar. 31, 2017
Payables And Accruals [Abstract]
Other Accrued Expenses	6. Other Accrued Expenses The balance in other accrued expenses is comprised of the following: March 31, December 31, 2017 2016 Deposits and amounts due to customers $ 2,329 $ 2,688 Dividends payable 4,300 4,260 Accrued litigation and professional fees 584 452 Other accrued expenses 5,567 5,683 $ 12,780 $ 13,083

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2017
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	7. Goodwill and Intangible Assets The change in goodwill for the three months ended March 31, 2017 and March 31, 2016 was as follows: Distribution Material Handling Total January 1, 2017 $ 505 $ 58,714 $ 59,219 Foreign currency translation — 87 87 March 31, 2017 $ 505 $ 58,801 $ 59,306 Distribution Material Handling Total January 1, 2016 $ 505 $ 63,530 $ 64,035 Foreign currency translation — 1,246 1,246 Impairment charges — (5,676 ) (5,676 ) March 31, 2016 $ 505 $ 59,100 $ 59,605 Intangible assets other than goodwill primarily consist of trade names, customer relationships, patents and technology assets established in connection with acquisitions. These intangible assets, other than certain trade names, are amortized over their estimated useful lives. The Company has indefinite-lived trade names which had a carrying value of $10.9 million at March 31, 2017 and December 31, 2016. See Note 2 for discussion of goodwill, trade name and other long-lived asset impairment charges in the first quarter of 2016.

Net Income (Loss) per Common Sh

Net Income (Loss) per Common Share	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Net Income (Loss) per Common Share	8. Net Income (Loss) per Common Share Net income (loss) per common share, as shown on the accompanying Condensed Consolidated Statements of Operations (Unaudited), is determined on the basis of the weighted average number of common shares outstanding during the periods as follows: For the Three Months Ended March 31, 2017 2016 Weighted average common shares outstanding basic 30,029,679 29,547,514 Dilutive effect of stock options and restricted stock 262,904 — Weighted average common shares outstanding diluted 30,292,583 29,547,514 Options to purchase 856,559 shares of common stock that were outstanding for the three months ended There were 2,136,840 stock-based awards excluded from the computation of net loss per common share for the three months ended March 31, 2016 due to the Company’s net loss for the period.

Stock Compensation

Stock Compensation	3 Months Ended
	Mar. 31, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock Compensation	9. Stock Compensation Subject to shareholder approval, which was received on April 26, 2017, the Board of Directors approved the Company’s Amended and Restated 2017 Incentive Stock Plan (the “2017 Plan”) on March 2, 2017. The 2017 Plan authorizes the Compensation Committee of the Board of Directors to issue up to 5,126,950 shares of various stock awards including stock options, performance stock units, restricted stock units and other forms of equity-based awards to key employees and directors. Options granted and outstanding vest over the requisite service period and expire ten years from the date of grant. In March 2017, the Company granted 397,759 stock options with a weighted average exercise price of $14.30 and a weighted average fair value of $4.47. The fair value of options granted is estimated using a binomial lattice option pricing model. Also in March 2017, the Company granted 87,887 and 140,746 time-based and performance-based restricted stock units, respectively, with a weighted average fair value of $14.30. Stock compensation expense was approximately $0.9 million and $1.3 million for the three months ended March 31, 2017 and 2016, respectively. These expenses are included in Selling, General and Administrative expenses in the accompanying Condensed Consolidated Statements of Operations (Unaudited). Total unrecognized compensation cost related to non-vested stock-based compensation arrangements at March 31, 2017 was approximately $8.5 million, which will be recognized over the next three years, as such compensation is earned.

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2017
Commitments And Contingencies Disclosure [Abstract]
Contingencies	10. Contingencies The Company is a defendant in various lawsuits and a party to various other legal proceedings, in the ordinary course of business, some of which are covered in whole or in part by insurance. New Idria Mercury Mine In September 2015, the U.S. Environmental Protection Agency (“EPA”) formally informed a subsidiary of the Company, Buckhorn, Inc. (“Buckhorn”) via a notice letter and related documents (the “Notice Letter”) that it considers Buckhorn to be a potentially responsible party (“PRP”) in connection with the New Idria Mercury Mine site (“New Idria Mine”). New Idria Mining & Chemical Company (“NIMCC”), which owned and/or operated the New Idria Mine through 1976 was merged into Buckhorn Metal Products Inc. in 1981, which was subsequently acquired by Myers Industries in 1987. As a result of the EPA Notice Letter, Buckhorn and the Company are engaged in negotiations with the EPA with respect to a draft Administrative Order proposed by the EPA for the Remedial Investigation/Feasibility Study (“RI/FS”) to determine the extent of remediation necessary and the screening of alternatives. The New Idria Mine is located near Hollister, California and was added to the Superfund National Priorities List by the EPA in October 2011, at which time the Company recognized expense of $1.9 million related to performing the RI/FS. In the second quarter of 2016, the Company, based on discussions with the EPA, determined that the RI/FS will begin in 2017 and therefore obtained updated estimated costs to perform the RI/FS. As a result of the updated estimated costs, the Company recorded additional expense of $1.0 million in the second quarter of 2016. As part of the Notice Letter, the EPA also made a claim for approximately $1.6 million in past costs for actions it claims it has taken in connection with the New Idria Mine since 1993. While the Company is challenging these past cost claims, in 2015 the Company recognized expense of $1.3 million related to these claims. As of March 31, 2017, the Company has a total reserve of $2.4 million related to the New Idria Mine, of which $0.3 million is classified in Other Current Liabilities and $2.1 million is classified in Other Liabilities on the Condensed Consolidated Statements of Financial Position (Unaudited). As negotiations with the EPA proceed it is possible that adjustments to the aforementioned reserves will be necessary to reflect new information. Estimates of the Company’s liability are based on current facts, laws, regulations and technology. Estimates of the Company’s environmental liabilities are further subject to uncertainties regarding the negotiations with EPA, the nature and extent of site contamination, the range of remediation alternatives available, evolving remediation standards, imprecise engineering evaluation and cost estimates, the extent of remedial actions that may be required, the number and financial condition of other PRPs that may be named as well as the extent of their responsibility for the remediation, and the availability of insurance coverage for these expenses. At this time, we have not accrued for remediation costs in connection with this site as we are unable to estimate the liability, given the circumstances referred to above, including the fact the final remediation strategy has not yet been determined. New Almaden Mine A number of parties, including the Company and its subsidiary, Buckhorn (as successor to NIMCC), were alleged by trustee agencies of the United States and the State of California to be responsible for natural resource damages due to environmental contamination of areas comprising the historical New Almaden mercury mines located in the Guadalupe River Watershed region in Santa Clara County, California (“County”). In 2005, Buckhorn and the Company, without admitting liability or chain of ownership of NIMCC, resolved the trustees’ claim against them through a consent decree that required them to contribute financially to the implementation by the County of an environmentally beneficial project within the impacted area. Buckhorn and the Company negotiated an agreement with the County, whereby Buckhorn and the Company agreed to reimburse one-half of the County’s original cost estimate of $1.6 million of implementing the project. As a result, in 2005, the Company recognized expense of $0.8 million $0.5 $3.3 million and $4.4 million. $1.2 $1.5 The project has not yet been implemented though significant work on design and planning has been performed. Field work on the project is expected to commence in 2017. As work on the project occurs, it is possible that adjustments to the aforementioned reserves will be necessary to reflect new information. Lawn and Garden Indemnification Claim In connection with the sale of the Lawn and Garden business, as described in Note 3, the Company received a Notice of Indemnification Claims in April 2015, and a Second Notice of Indemnification Claims in July 2016 (collectively, the “Claims”), alleging breaches of certain representations and warranties under the agreement resulting in losses in the amount of approximately $10 million. The Company believes these Claims are without merit and intends to vigorously defend its position. As described in Note 3, approximately $8.6 million of the sale proceeds were placed in escrow and due to be settled in August 2016, but have been extended until the Claims are resolved. When a loss arising from these matters is probable and can reasonably be estimated, we record the amount of the estimated loss, or the minimum estimated liability when the loss is estimated using a range, and no point within the range is more probable of occurrence than another. As additional information becomes available, any potential liability related to these matters will be assessed and the estimates will be revised, if necessary. Based on current available information, management believes that the ultimate outcome of these matters will not have a material adverse effect on our financial position, cash flows or overall trends in our results of operations. However, these matters are subject to inherent uncertainties, and unfavorable rulings could occur. If an unfavorable ruling were to occur, there exists the possibility of a material adverse impact on the financial position and results of operations of the period in which the ruling occurs, or in future periods.

Long-Term Debt and Loan Agreeme

Long-Term Debt and Loan Agreements	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Long-Term Debt and Loan Agreements	11. Long-Term Debt and Loan Agreements Long-term debt consisted of the following: March 31, December 31, 2017 2016 Loan Agreement $ 81,504 $ 90,686 4.67% Senior Unsecured Notes due 2021 40,000 40,000 5.25% Senior Unsecured Notes due 2024 11,000 11,000 5.30% Senior Unsecured Notes due 2024 29,000 29,000 5.45% Senior Unsecured Notes due 2026 20,000 20,000 181,504 190,686 Less unamortized deferred financing costs 1,933 1,164 $ 179,571 $ 189,522 In March 2017, the Company entered into a Fifth Amended and Restated Loan Agreement (the “Loan Agreement”). The Loan Agreement replaced the pre-existing $300 million senior revolving credit facility with a $200 million facility and extended the term from December 2018 to March 2022. In addition, the Loan Agreement provides for a maximum Leverage Ratio of 3.75 for the first and second quarters of 2017, stepping down to 3.5 in the third quarter of 2017, and 3.25 thereafter. Under the terms of the Loan Agreement, the Company may borrow up to $200.0 million, reduced for letters of credit issued. As of March 31, 2017, the Company had $114.1 million available under the Loan Agreement. The Company had $4.4 million of letters of credit issued related to insurance and other financing contracts in the ordinary course of business at March 31, 2017. Borrowings under the Loan Agreement bear interest at the LIBOR rate, prime rate, federal funds effective rate, the Canadian deposit offered rate, or the euro currency reference rate depending on the type of loan requested by the Company, plus the applicable margin as set forth in the Loan Agreement. The average interest rate on borrowings under our loan agreements were 5.20% and 4.50% for the three months ended March 31, 2017 and 2016, respectively, which includes a quarterly facility fee on the used and unused portion. Long-term debt of $179.6 million at March 31, 2017 includes $1.9 million of unamortized deferred financing costs, which is accounted for as a debt valuation account. Amounts outstanding at March 31, 2017 under the Loan Agreement and note purchase agreement mature in 2022 and 2021 to 2026, respectively.

Retirement Plans

Retirement Plans	3 Months Ended
	Mar. 31, 2017
Compensation And Retirement Disclosure [Abstract]
Retirement Plans	12. Retirement Plans The Company and certain of its subsidiaries have pension and profit sharing plans covering substantially all of their employees. The Company’s frozen defined benefit pension plan (“The Pension Agreement between Akro-Mils and United Steelworkers of America Local No. 1761-02”) provides benefits primarily based upon a fixed amount for each year of service as of the date the plan was frozen. Net periodic pension cost are as follows: For the Three Months Ended March 31, 2017 2016 Interest cost $ 63 $ 68 Expected return on assets (74 ) (80 ) Amortization of net loss 24 20 Net periodic pension cost $ 13 $ 8 Company contributions $ — $ — The Company does not expect to make a contribution to the plan in 2017.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Income Taxes	13. Income Taxes The Company’s effective tax rate was 41.9% for the three months ended March 31, 2017, higher than the statutory rate due to losses in jurisdictions where the tax benefits are not currently recognized. In the first quarter of 2016, the Company recognized $2.4 million of tax expense on a pre-tax loss of $0.9 million, primarily due to losses in jurisdictions where the tax benefits are not currently recognized, including the impairment charges in Brazil. The total amount of gross unrecognized tax benefits that would reduce the Company’s effective tax rate was $0.5 million at March 31, 2017 and December 31, 2016. Accrued interest expense included within Accrued Income Taxes in the Company's Condensed Consolidated Statements of Financial Position (Unaudited) was less than $0.1 million at both March 31, 2017 and December 31, 2016. It is reasonably possible that the Company will recognize tax benefits within the next twelve months in the range of zero to $0.5 million resulting from the possible expiration of certain statutes of limitation. The Company and its subsidiaries file U.S. Federal, state and local, and non-U.S. income tax returns. As of March 31, 2017, the Company is no longer subject to U.S. Federal examination by tax authorities for tax years before 2013. The Company is subject to state and local examinations for tax years of 2012 through 2016. In addition, the Company is subject to non-U.S. income tax examinations for tax years of 2011 through 2016.

Industry Segments

Industry Segments	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Industry Segments	14. Industry Segments Using the criteria of ASC 280, Segment Reporting The Material Handling Segment manufactures a broad selection of plastic reusable containers, pallets, small parts bins, bulk shipping containers, storage and organization products and rotationally-molded plastic tanks for water, fuel and waste handling. This segment conducts its primary operations in the United States, but also operates in Brazil and Canada. Markets served encompass various niches of industrial manufacturing, food processing, retail/wholesale products distribution, agriculture, automotive, recreational vehicles, marine vehicles, healthcare, appliance, bakery, electronics, textiles, consumer, and others. Products are sold both directly to end-users and through distributors. The Distribution Segment is engaged in the distribution of equipment, tools, and supplies used for tire servicing and automotive undervehicle repair and the manufacture of tire repair and retreading products. The product line includes categories such as tire valves and accessories, tire changing and balancing equipment, lifts and alignment equipment, service equipment and tools, and tire repair/retread supplies. The Distribution Segment operates domestically through sales offices, and four regional distribution centers in the United States and in foreign countries through export sales. In addition, the Distribution Segment operates directly in certain foreign markets, principally Central America, through foreign branch operations. Markets served include retail and truck tire dealers, commercial auto and truck fleets, auto dealers, general service and repair centers, tire retreaders, and government agencies. Summarized segment detail for the three months ended March 31, 2017 and 2016 are presented in the following table: For the Three Months Ended March 31, 2017 2016 Net Sales Material Handling $ 103,180 $ 109,024 Distribution 38,574 42,221 Inter-company sales (51 ) (40 ) Total net sales $ 141,703 $ 151,205 Income (loss) from continuing operations before income taxes Material Handling $ 12,088 $ 7,441 Distribution 1,538 2,536 Corporate (6,268 ) (8,848 ) Total operating income 7,358 1,129 Interest expense, net (1,975 ) (2,019 ) Income (loss) from continuing operations before income taxes $ 5,383 $ (890 )

Summary of Significant Accoun23

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements include the accounts of Myers Industries, Inc. and all wholly owned subsidiaries (collectively, the “Company”), and have been prepared without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures are adequate to make the information not misleading. These interim financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s annual report on Form 10-K for the year ended December 31, 2016. In the opinion of the Company, the accompanying condensed consolidated financial statements contain all adjustments (consisting of normal recurring accruals) necessary to present fairly the financial position as of March 31, 2017, and the results of operations and cash flows for the periods presented. The results of operations for the three months ended March 31, 2017 are not necessarily indicative of the results of operations that will occur for the year ending December 31, 2017.
Recent Accounting Pronouncements	Accounting Standards Adopted In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09, Compensation - Stock Compensation - Improvements to Employee Share-Based Payment Accounting Accounting Standards Not Yet Adopted In March 2017, the FASB issued ASU 2017-07, Compensation – Retirement Benefits (Topic 715) – Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. In January 2017 , the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350) - Simplifying the Test for Goodwill Impairment. This ASU eliminates Step 2 of the goodwill impairment test and requires goodwill impairment to be measured as the amount by which a reporting unit’s carrying amount exceeds its fair value, not to exceed the carrying amount of its goodwill. The ASU is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. The guidance allows for early adoption for impairment testing dates after January 1, 2017. While the Company is currently evaluating the timing of adoption, it does not believe that the adoption of this guidance will have a material impact on its consolidated financial statements. In November 2016, the FASB issued ASU 2016 -18, Statement of Cash Flows (Topic 230) - Restricted Cash . This ASU requires that companies include amounts generally described as restricted cash and restricted cash equivalents, along with cash and cash equivalents, when reconciling the beginning-of-period and end-of-period amounts shown on the statement of cash flows. The ASU is effective for annual reporting periods beginning after December 15, 2017 and interim periods within those annual periods. In October 2016, the FASB issued ASU 2016-16, Accounting for Income Taxes: Intra-Entity Transfers of Assets Other Than Inventory (Topic 740) those annual periods. The Company is currently evaluating the impact this standard will have on its consolidated financial statements. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows – Classification of Certain Cash Receipts and Cash Payments In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers The new guidance also includes enhanced disclosure requirements, and is effective January 1, 2018, with early adoption permitted for January 1, 2017. Entities have the option to apply the new guidance under a retrospective approach to each prior reporting period presented, or a modified retrospective approach with the cumulative effect of initially applying the new guidance recognized at the date of initial application within the Consolidated Statements of Shareholders’ Equity. The Company plans to adopt the new guidance effective January 1, 2018 under the modified retrospective approach and
Translation of Foreign Currencies	Translation of Foreign Currencies All asset and liability accounts of consolidated foreign subsidiaries are translated at the current exchange rate as of the end of the accounting period and income statement items are translated monthly at an average currency exchange rate for the period. The resulting translation adjustment is recorded in other comprehensive income (loss) as a separate component of shareholders' equity.
Fair Value Measurement	Fair Value Measurement The Company follows guidance included in the Accounting Standards Codification (“ASC”) 820, Fair Value Measurements and Disclosures Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2: Unadjusted quoted prices in active markets for similar assets or liabilities, unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active or inputs that are observable either directly or indirectly. Level 3: Unobservable inputs for which there is little or no market data or which reflect the entity’s own assumptions. The Company has financial instruments, including cash, accounts receivable, accounts payable and accrued expenses. The fair value of these financial instruments approximate carrying value due to the nature and relative short maturity of these assets and liabilities. The fair value of debt under the Company’s Loan Agreement, as defined in Note 11, approximates carrying value due to the floating rates and relative short maturity (less than 90 days) of the revolving borrowings under this agreement. The fair value of the Company’s fixed rate senior unsecured notes was estimated using market observable inputs for the Company’s comparable peers with public debt, including quoted prices in active markets and interest rate measurements which are considered level 2 inputs. At March 31, 2017 and December 31, 2016, the aggregate fair value of the Company's $100.0 million fixed rate senior unsecured notes was estimated at $99.3 million and $98.0 million, respectively.
Revenue Recognition	Revenue Recognition The Company recognizes revenues from the sale of products, net of actual and estimated returns, at the point of passage of title and risk of loss, which is generally at time of shipment, and collectability of the fixed or determinable sales price is reasonably assured.
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Changes in accumulated other comprehensive income (loss) are as follows: Foreign Currency Defined Benefit Pension Plans Total Balance at January 1, 2017 $ (32,342 ) $ (1,832 ) $ (34,174 ) Other comprehensive income before reclassifications 901 — 901 Net current-period other comprehensive income 901 — 901 Balance at March 31, 2017 $ (31,441 ) $ (1,832 ) $ (33,273 ) Balance at January 1, 2016 $ (37,447 ) $ (1,663 ) $ (39,110 ) Other comprehensive income before reclassifications 4,915 — 4,915 Net current-period other comprehensive income 4,915 — 4,915 Balance at March 31, 2016 $ (32,532 ) $ (1,663 ) $ (34,195 )
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid instruments purchased with a maturity of three months or less to be cash equivalents. Cash equivalents are stated at cost, which approximates market value. The Company maintains operating cash and reserves for replacement balances in financial institutions which, from time to time, may exceed federally insured limits. The Company periodically assesses the financial condition of these institutions and believes that the risk of loss is minimal.

Summary of Significant Accoun24

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
The balances in the Company's accumulated other comprehensive income (loss)	Accumulated Other Comprehensive Income (Loss) Changes in accumulated other comprehensive income (loss) are as follows: Foreign Currency Defined Benefit Pension Plans Total Balance at January 1, 2017 $ (32,342 ) $ (1,832 ) $ (34,174 ) Other comprehensive income before reclassifications 901 — 901 Net current-period other comprehensive income 901 — 901 Balance at March 31, 2017 $ (31,441 ) $ (1,832 ) $ (33,273 ) Balance at January 1, 2016 $ (37,447 ) $ (1,663 ) $ (39,110 ) Other comprehensive income before reclassifications 4,915 — 4,915 Net current-period other comprehensive income 4,915 — 4,915 Balance at March 31, 2016 $ (32,532 ) $ (1,663 ) $ (34,195 )

Restructuring (Tables)

Restructuring (Tables)	3 Months Ended
	Mar. 31, 2017
Restructuring And Related Activities [Abstract]
Summary of Restructuring Activity	The table below summarizes restructuring activity for the three months ended March 31, 2017: Employee Reduction Accelerated Depreciation Other Costs Total Balance at January 1, 2017 $ — $ — $ — $ — Charges to expense 224 618 12 854 Cash payments — — — — Non-cash utilization — (618 ) — (618 ) Balance at March 31, 2017 $ 224 $ — $ 12 $ 236

Other Accrued Expenses (Tables)

Other Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2017
Payables And Accruals [Abstract]
Schedule of Other Accrued Expenses	The balance in other accrued expenses is comprised of the following: March 31, December 31, 2017 2016 Deposits and amounts due to customers $ 2,329 $ 2,688 Dividends payable 4,300 4,260 Accrued litigation and professional fees 584 452 Other accrued expenses 5,567 5,683 $ 12,780 $ 13,083

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2017
Goodwill And Intangible Assets Disclosure [Abstract]
The change in goodwill	The change in goodwill for the three months ended March 31, 2017 and March 31, 2016 was as follows: Distribution Material Handling Total January 1, 2017 $ 505 $ 58,714 $ 59,219 Foreign currency translation — 87 87 March 31, 2017 $ 505 $ 58,801 $ 59,306 Distribution Material Handling Total January 1, 2016 $ 505 $ 63,530 $ 64,035 Foreign currency translation — 1,246 1,246 Impairment charges — (5,676 ) (5,676 ) March 31, 2016 $ 505 $ 59,100 $ 59,605

Net Income (Loss) per Common 28

Net Income (Loss) per Common Share (Tables)	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Weighted average number of common shares outstanding during the period	Net income (loss) per common share, as shown on the accompanying Condensed Consolidated Statements of Operations (Unaudited), is determined on the basis of the weighted average number of common shares outstanding during the periods as follows: For the Three Months Ended March 31, 2017 2016 Weighted average common shares outstanding basic 30,029,679 29,547,514 Dilutive effect of stock options and restricted stock 262,904 — Weighted average common shares outstanding diluted 30,292,583 29,547,514

Long-Term Debt and Loan Agree29

Long-Term Debt and Loan Agreements (Tables)	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Schedule of Long Term Debt	Long-term debt consisted of the following: March 31, December 31, 2017 2016 Loan Agreement $ 81,504 $ 90,686 4.67% Senior Unsecured Notes due 2021 40,000 40,000 5.25% Senior Unsecured Notes due 2024 11,000 11,000 5.30% Senior Unsecured Notes due 2024 29,000 29,000 5.45% Senior Unsecured Notes due 2026 20,000 20,000 181,504 190,686 Less unamortized deferred financing costs 1,933 1,164 $ 179,571 $ 189,522

Retirement Plans (Tables)

Retirement Plans (Tables)	3 Months Ended
	Mar. 31, 2017
Compensation And Retirement Disclosure [Abstract]
Net periodic pension cost	Net periodic pension cost are as follows: For the Three Months Ended March 31, 2017 2016 Interest cost $ 63 $ 68 Expected return on assets (74 ) (80 ) Amortization of net loss 24 20 Net periodic pension cost $ 13 $ 8 Company contributions $ — $ —

Industry Segments (Tables)

Industry Segments (Tables)	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Schedule of Reporting Information by Segment	Summarized segment detail for the three months ended March 31, 2017 and 2016 are presented in the following table: For the Three Months Ended March 31, 2017 2016 Net Sales Material Handling $ 103,180 $ 109,024 Distribution 38,574 42,221 Inter-company sales (51 ) (40 ) Total net sales $ 141,703 $ 151,205 Income (loss) from continuing operations before income taxes Material Handling $ 12,088 $ 7,441 Distribution 1,538 2,536 Corporate (6,268 ) (8,848 ) Total operating income 7,358 1,129 Interest expense, net (1,975 ) (2,019 ) Income (loss) from continuing operations before income taxes $ 5,383 $ (890 )

Summary of Significant Accoun32

Summary of Significant Accounting Policies - Additional Information (Details) - Less unamortized deferred financing fees [Member] - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Notes payable, carrying amount	$ 100	$ 100
Estimate of Fair Value, Fair Value Disclosure [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Notes payable, fair value disclosure	$ 99.3	$ 98

Summary of Significant Accoun33

Summary of Significant Accounting Policies - The Balances in the Company's Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 93,033
Net current-period other comprehensive income	901	$ 4,915
Ending balance	93,644
Foreign Currency [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(32,342)	(37,447)
Other comprehensive income before reclassifications	901	4,915
Net current-period other comprehensive income	901	4,915
Ending balance	(31,441)	(32,532)
Defined Benefit Pension Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(1,832)	(1,663)
Other comprehensive income before reclassifications	0	0
Net current-period other comprehensive income	0	0
Ending balance	(1,832)	(1,663)
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(34,174)	(39,110)
Other comprehensive income before reclassifications	901	4,915
Net current-period other comprehensive income	901	4,915
Ending balance	$ (33,273)	$ (34,195)

Impairment Charges - Additional

Impairment Charges - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Impairment charges	$ 0	$ 8,545
Novel [Member]
Impairment charges		$ 8,500

Discontinued Operations - Addit

Discontinued Operations - Additional Information (Details) - USD ($) $ in Thousands	Feb. 17, 2015	Mar. 31, 2016	Mar. 31, 2017	Dec. 31, 2016
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Notes receivable, carrying value			$ 18,367	$ 18,275
Lawn and Garden Business [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Interest rate	6.00%
Notes Receivable, Fair Value Disclosure	$ 17,800
Notes receivable, carrying value			$ 18,400
Amount of consideration received	110,000
Proceeds from divestiture of businesses	90,000
Promissory note receivable	$ 20,000
Maturity date of promissory note receivable	2020-08
Escrow deposit	$ 8,600
Escrow deposit due to be settled date	2016-08
Adjustment to working capital		$ 4,000

Restructuring - Additional Info

Restructuring - Additional Information (Details) - USD ($) $ in Millions	Mar. 09, 2017	Mar. 31, 2017
Restructuring Cost And Reserve [Line Items]
Expected restructuring charges in 2017	$ 10
Expected restructuring charges in equipment relocation, facility shutdown and other implementation costs	5.5
Expected restructuring charges in employee severance and other employee-related costs	2.5
Expected restructuring charges in accelerated depreciation charges and potential impairment of property, plant and equipment	$ 2
Manufacturing Plant Closing [Member]
Restructuring Cost And Reserve [Line Items]
Gain on asset dispositions		$ 0.8
Manufacturing Plant Closing [Member] | Cost of Sales [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring and accelerated depreciation charges		$ 0.9

Restructuring - Summary of Rest

Restructuring - Summary of Restructuring Activity (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)
Restructuring Cost And Reserve [Line Items]
Charges to expense	$ 854
Non-cash utilization	(618)
Balance at March 31, 2017	236
Employee Reduction [Member]
Restructuring Cost And Reserve [Line Items]
Charges to expense	224
Balance at March 31, 2017	224
Accelerated Depreciation [Member]
Restructuring Cost And Reserve [Line Items]
Charges to expense	618
Non-cash utilization	(618)
Other Costs [Member]
Restructuring Cost And Reserve [Line Items]
Charges to expense	12
Balance at March 31, 2017	$ 12

Inventories - Additional Inform

Inventories - Additional Information (Details)	Mar. 31, 2017USD ($)
Inventory Disclosure [Abstract]
Percentage of LIFO Inventory	40.00%
Inventory adjustment	$ 0

Other Accrued Expenses (Details

Other Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Payables And Accruals [Abstract]
Deposits and amounts due to customers	$ 2,329	$ 2,688
Dividends payable	4,300	4,260
Accrued litigation and professional fees	584	452
Other accrued expenses	5,567	5,683
Other accrued expenses, Total	$ 12,780	$ 13,083

Goodwill and Intangible Asset40

Goodwill and Intangible Assets - Change in Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Goodwill [Roll Forward]
Beginning balance	$ 59,219	$ 64,035
Foreign currency translation	87	1,246
Impairment charges		(5,676)
Ending balance	59,306	59,605
Distribution [Member]
Goodwill [Roll Forward]
Beginning balance	505	505
Foreign currency translation	0	0
Impairment charges		0
Ending balance	505	505
Material Handling [Member]
Goodwill [Roll Forward]
Beginning balance	58,714	63,530
Foreign currency translation	87	1,246
Impairment charges		(5,676)
Ending balance	$ 58,801	$ 59,100

Goodwill and Intangible Asset41

Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Trade Names [Member]
Finite And Indefinite Lived Intangible Assets [Line Items]
Carrying value of indefinite-lived intangible assets	$ 10.9	$ 10.9

Net Income (Loss) per Common 42

Net Income (Loss) per Common Share (Details) - shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Earnings Per Share [Abstract]
Weighted average common shares outstanding basic	30,029,679	29,547,514
Dilutive effect of stock options and restricted stock (in shares)	262,904	0
Weighted average common shares outstanding diluted (in shares)	30,292,583	29,547,514

Net Income (Loss) per Common 43

Net Income (Loss) per Common Share - Additional Information (Details) - shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Earnings Per Share [Abstract]
Anti-dilutive securities excluded from computation of net earnings or loss per common share	856,559	2,136,840

Stock Compensation - Additional

Stock Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2017	Mar. 31, 2016	Mar. 02, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense		$ 0.9	$ 1.3
Total unrecognized compensation cost related to non-vested share based compensation arrangements	$ 8.5	$ 8.5
Unrecognized compensation cost period for recognition		3 years
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period of expiration, term		10 years
Options Granted	397,759
Options, Granted, Average exercise Price	$ 14.30
Options Granted, Average Fair Value price	$ 4.47
Time Based Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Granted During Period	87,887
Granted, Average Granted Date Fair Value	$ 14.30
Performance Based Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Granted During Period	140,746
Granted, Average Granted Date Fair Value	$ 14.30
2017 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for grant under plan (in shares)				5,126,950

Contingencies - Additional Info

Contingencies - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended		6 Months Ended	12 Months Ended
	Apr. 30, 2016	Oct. 31, 2011	Mar. 31, 2017	Jun. 30, 2016	Sep. 30, 2016	Dec. 31, 2015	Dec. 31, 2005	Dec. 31, 2016
Loss Contingencies [Line Items]
Other current liabilities			$ 12,780					$ 13,083
Other liabilities			7,923					$ 9,235
New Almaden Mine [Member] | Natural Resource Damage Claim [Member]
Loss Contingencies [Line Items]
Expense recognized					$ 1,200		$ 800
Total reserve			1,500
Other current liabilities			200
Other liabilities			1,300
Accrued balance			500
Original estimated project costs	$ 1,600
Revised estimated project costs, Low Estimate	3,300
Revised estimated project costs, High Estimate	$ 4,400
Lawn and Garden Indemnification Claim [Member]
Loss Contingencies [Line Items]
Indemnification claims			10,000
Escrow deposit			$ 8,600
Escrow deposit due to be settled date			2016-08
Pending Litigation [Member] | New Idria Mercury Mine [Member] | EPA Notice Letter [Member]
Loss Contingencies [Line Items]
Expense recognized		$ 1,900		$ 1,000
Loss contingency costs			$ 1,600
Accrued balance						$ 1,300
Total reserve			2,400
Other current liabilities			300
Other liabilities			$ 2,100

Long-Term Debt and Loan Agree46

Long-Term Debt and Loan Agreements - Schedule of Long Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Long-term Debt	$ 181,504	$ 190,686
Less unamortized deferred financing fees	1,933	1,164
Long-term Debt, net of deferred financing costs	179,571	189,522
Loan Agreement [Member]
Debt Instrument [Line Items]
Long-term Debt	81,504	90,686
4.67% Senior Unsecured Notes due 2021 [Member]
Debt Instrument [Line Items]
Long-term Debt	40,000	40,000
5.25% Senior Unsecured Notes due 2024 [Member]
Debt Instrument [Line Items]
Long-term Debt	11,000	11,000
5.30% Senior Unsecured Notes due 2024 [Member]
Debt Instrument [Line Items]
Long-term Debt	29,000	29,000
5.45% Senior Unsecured Notes due 2026 [Member]
Debt Instrument [Line Items]
Long-term Debt	$ 20,000	$ 20,000

Long-Term Debt and Loan Agree47

Long-Term Debt and Loan Agreements - Schedule of Long Term Debt (Parenthetical) (Details)	3 Months Ended
	Mar. 31, 2017
4.67% Senior Unsecured Notes due 2021 [Member]
Debt Instrument [Line Items]
Interest rate	4.67%
Debt instrument maturity period	2,021
5.25% Senior Unsecured Notes due 2024 [Member]
Debt Instrument [Line Items]
Interest rate	5.25%
Debt instrument maturity period	2,024
5.30% Senior Unsecured Notes due 2024 [Member]
Debt Instrument [Line Items]
Interest rate	5.30%
Debt instrument maturity period	2,024
5.45% Senior Unsecured Notes due 2026 [Member]
Debt Instrument [Line Items]
Interest rate	5.45%
Debt instrument maturity period	2,026

Long-Term Debt and Loan Agree48

Long-Term Debt and Loan Agreements - Additional Information (Details) - USD ($)	3 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	May 30, 2014
Debt Instrument [Line Items]
Maximum borrowing capacity on line of credit				$ 200,000,000
Letters of credit				4,400,000
Long-term debt, excluding unamortized deferred financing costs				179,571,000		$ 189,522,000
Less unamortized deferred financing fees				$ 1,933,000		$ 1,164,000
Loan Amendment [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity on line of credit							$ 300,000,000
Loan maturity period				2018-12
Maximum leverage ratio				3.75%
Remaining amount available under the line of credit				$ 114,100,000
Interest rate during period				5.20%	4.50%
Loan Amendment [Member] | Extended Maturity [Member]
Debt Instrument [Line Items]
Loan maturity period				2022-03
Loan Amendment [Member] | Scenario, Forecast [Member]
Debt Instrument [Line Items]
Maximum leverage ratio	3.25%	3.50%	3.75%

Retirement Plans - Periodic Pen

Retirement Plans - Periodic Pension Cost (Details) - Pension Plans, Defined Benefit [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 63	$ 68
Expected return on assets	(74)	(80)
Amortization of net loss	24	20
Net periodic pension cost	$ 13	$ 8

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Income Taxes [Line Items]
Effective tax rate for the year	41.90%
Income tax expense	$ 2,255,000	$ 2,446,000
Pre-tax loss	5,383,000	$ (890,000)
Unrecognized tax benefits that would impact effective tax rate	500,000		$ 500,000
Maximum [Member]
Income Taxes [Line Items]
Amount of accrued interest expense included as a liability within the Company's Condensed Consolidated Statements of Financial Position	100,000		$ 100,000
Unrecognized tax benefits to be recognized	500,000
Minimum [Member]
Income Taxes [Line Items]
Unrecognized tax benefits to be recognized	$ 0

Industry Segments - Additional

Industry Segments - Additional Information (Details)	3 Months Ended
	Mar. 31, 2017Segment
Segment Reporting [Abstract]
Number of operating segments	2

Industry Segments - Schedule of

Industry Segments - Schedule of reporting information by segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Segment Reporting Information [Line Items]
Net sales	$ 141,703	$ 151,205
Operating Income	7,358	1,129
Interest expense, net	(1,975)	(2,019)
Income (loss) from continuing operations before income taxes	5,383	(890)
Operating Segments [Member] | Material Handling [Member]
Segment Reporting Information [Line Items]
Net sales	103,180	109,024
Operating Income	12,088	7,441
Operating Segments [Member] | Distribution [Member]
Segment Reporting Information [Line Items]
Net sales	38,574	42,221
Operating Income	1,538	2,536
Inter-company sales [Member]
Segment Reporting Information [Line Items]
Net sales	(51)	(40)
Corporate [Member]
Segment Reporting Information [Line Items]
Operating Income	$ (6,268)	$ (8,848)