Myers Industries, Inc. (MYE) to Issue Quarterly Dividend of $0.14 on April 3rd

Myers Industries, Inc. (NYSE:MYE) announced a quarterly dividend on Friday, February 27th. Investors of record on Friday, March 13th will be paid a dividend of 0.135 per share by the industrial products company on Friday, April 3rd. This represents a c) annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, March 13th.

Myers Industries has a payout ratio of 34.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Myers Industries to earn $1.17 per share next year, which means the company should continue to be able to cover its $0.54 annual dividend with an expected future payout ratio of 46.2%.

Myers Industries Price Performance

Myers Industries stock traded up $0.18 during midday trading on Wednesday, reaching $21.21. The company’s stock had a trading volume of 165,550 shares, compared to its average volume of 287,226. The stock has a market cap of $793.25 million, a PE ratio of 22.83 and a beta of 1.06. The company has a current ratio of 1.67, a quick ratio of 1.16 and a debt-to-equity ratio of 1.08. The business has a 50-day moving average price of $21.01 and a 200-day moving average price of $18.66. Myers Industries has a 52 week low of $9.06 and a 52 week high of $24.03.

Myers Industries (NYSE:MYE) last issued its quarterly earnings data on Thursday, March 5th. The industrial products company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.23 by $0.08. The business had revenue of $203.97 million during the quarter, compared to the consensus estimate of $202.60 million. Myers Industries had a net margin of 4.23% and a return on equity of 14.46%. On average, sell-side analysts predict that Myers Industries will post 0.95 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Myers Industries in a report on Thursday, January 22nd. Zacks Research upgraded shares of Myers Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 16th. Finally, Wall Street Zen raised shares of Myers Industries from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 28th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $21.00.

Myers Industries Company Profile

Myers Industries, Inc is a diversified manufacturer of polymer products serving industrial, commercial and consumer markets. The company designs, produces and markets a broad range of molded and fabricated plastic components, including pallets, bulk containers, tanks and drums used in material handling and storage applications. Myers Industries leverages proprietary polymer technologies to provide durable, reusable solutions that help customers optimize supply chain efficiency and reduce environmental impact.

Myers operates primarily through two business segments.