Myers Industries, Inc. (NYSE:MYE) announced a quarterly dividend on Wednesday, March 6th, RTT News reports. Investors of record on Wednesday, March 20th will be paid a dividend of 0.135 per share by the industrial products company on Tuesday, April 2nd. This represents a $0.54 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Tuesday, March 19th.
Myers Industries has increased its dividend payment by an average of 0.3% annually over the last three years. Myers Industries has a dividend payout ratio of 61.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Myers Industries to earn $0.91 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 59.3%.
Shares of Myers Industries stock opened at $18.23 on Thursday. Myers Industries has a 12-month low of $14.24 and a 12-month high of $25.70. The firm has a market cap of $647.74 million, a P/E ratio of 23.99 and a beta of 1.72. The company has a quick ratio of 1.43, a current ratio of 1.88 and a debt-to-equity ratio of 0.50.
A number of brokerages have issued reports on MYE. Zacks Investment Research upgraded Myers Industries from a “sell” rating to a “hold” rating in a research note on Saturday, March 2nd. ValuEngine downgraded Myers Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. Six equities research analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average price target of $23.33.
About Myers Industries
Myers Industries, Inc manufactures and sells polymer products for industrial, agricultural, automotive, commercial, and consumer markets worldwide. The company's Material Handling segment provides plastic reusable material handling containers, pallets, small parts bins, bulk shipping containers, storage and organization products, and rotationally-molded plastic tanks for water, fuel, and waste handling applications; welded steel service carts, platform trucks, mobile work centers, racks, and cabinets; plastic trim and interior parts used in the production of seat components, consoles, and other applications in the recreational vehicle, marine, and industrial markets; and plastic fuel containers, portable marine fuel tanks and water containers, ammunition containers, and storage totes under the Buckhorn, Akro-Mils, Jamco Products, Ameri-Kart, and Scepter brands.
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