Myers Industries, Inc. (NYSE:MYE) to Issue $0.14 Quarterly Dividend

Myers Industries, Inc. (NYSE:MYE) declared a quarterly dividend on Friday, October 25th, RTT News reports. Investors of record on Tuesday, December 3rd will be paid a dividend of 0.135 per share by the industrial products company on Friday, January 3rd. This represents a $0.54 annualized dividend and a yield of 4.42%.

Myers Industries has a dividend payout ratio of 36.0% meaning its dividend is sufficiently covered by earnings.

Myers Industries Stock Performance

Shares of Myers Industries stock opened at $12.23 on Friday. The firm has a market cap of $454.75 million, a PE ratio of 11.54 and a beta of 1.21. The company has a quick ratio of 1.16, a current ratio of 1.81 and a debt-to-equity ratio of 1.32. Myers Industries has a 52 week low of $12.15 and a 52 week high of $23.63. The business’s fifty day simple moving average is $13.73 and its 200-day simple moving average is $15.40.

Myers Industries (NYSE:MYE) last issued its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.08. The firm had revenue of $220.24 million for the quarter. Myers Industries had a net margin of 4.79% and a return on equity of 16.27%. During the same quarter last year, the firm posted $0.35 earnings per share. Equities analysts forecast that Myers Industries will post 1.13 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, KeyCorp dropped their target price on shares of Myers Industries from $27.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th.

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.