Myers Industries, Inc. (NYSE:MYE) Declares Quarterly Dividend of $0.14

Myers Industries, Inc. (NYSE:MYE) declared a quarterly dividend on Wednesday, September 4th, Wall Street Journal reports. Stockholders of record on Friday, September 13th will be given a dividend of 0.135 per share by the industrial products company on Thursday, October 3rd. This represents a $0.54 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend is Friday, September 13th.

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

Myers Industries Stock Down 0.5 %

NYSE MYE opened at $13.29 on Wednesday. The company has a market capitalization of $494.16 million, a P/E ratio of 12.60 and a beta of 1.22. Myers Industries has a 12 month low of $12.47 and a 12 month high of $23.63. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.81 and a quick ratio of 1.16. The company’s 50 day simple moving average is $14.23 and its 200 day simple moving average is $17.22.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. StockNews.com cut Myers Industries from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. KeyCorp dropped their target price on shares of Myers Industries from $30.00 to $27.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd.

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.