Myers Industries, Inc. (MYE) to Issue Quarterly Dividend of $0.14 on April 4th

Myers Industries, Inc. (NYSE:MYE) declared a quarterly dividend on Tuesday, March 4th, RTT News reports. Shareholders of record on Friday, March 14th will be given a dividend of 0.135 per share by the industrial products company on Friday, April 4th. This represents a $0.54 dividend on an annualized basis and a yield of 5.57%. The ex-dividend date is Friday, March 14th.

Myers Industries has a payout ratio of 34.2% 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 Stock Down 0.6 %

Myers Industries stock opened at $9.70 on Thursday. The firm has a market cap of $361.42 million, a price-to-earnings ratio of 23.10 and a beta of 1.21. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.80 and a quick ratio of 1.11. Myers Industries has a fifty-two week low of $9.32 and a fifty-two week high of $23.63. The firm has a fifty day moving average price of $11.50 and a two-hundred day moving average price of $12.37.

Insider Activity at Myers Industries

In other Myers Industries news, CEO Dave Basque bought 5,000 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were acquired at an average price of $12.41 per share, with a total value of $62,050.00. Following the completion of the purchase, the chief executive officer now directly owns 39,152 shares in the company, valued at $485,876.32. The trade was a 14.64 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MYE has been the topic of several research reports. StockNews.com downgraded shares of Myers Industries from a “hold” rating to a “sell” rating in a report on Tuesday, January 28th. KeyCorp downgraded shares of Myers Industries from an “overweight” rating to a “sector weight” rating in a report on Wednesday, November 6th.

Myers Industries Company Profile

Myers Industries, Inc engages in distribution of tire service supplies in Ohio. It operates through two segments, The Material Handling and Distribution. The Material Handling segment offers pallets, small parts bins, bulk shipping containers, and OEM parts, as well as storage and organization, and custom plastic products; and injection molded, rotationally molded or blow molded products, consumer fuel containers and tanks for water, fuel, and waste handling.