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

Myers Industries, Inc. (NYSE:MYE) announced a quarterly dividend on Tuesday, September 8th. Stockholders of record on Friday, September 18th will be given a dividend of 0.135 per share by the industrial products company on Monday, October 5th. This represents a c) annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, September 18th.

Myers Industries has a dividend payout ratio of 34.0% meaning its dividend is sufficiently covered by earnings.

Myers Industries Price Performance

NYSE:MYE opened at $31.90 on Wednesday. Myers Industries has a 52 week low of $15.54 and a 52 week high of $37.45. The company has a quick ratio of 1.21, a current ratio of 1.61 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $1.20 billion, a PE ratio of 32.89 and a beta of 0.87. The stock’s 50-day moving average price is $32.40 and its 200-day moving average price is $26.30.

Myers Industries (NYSE:MYE) last released its quarterly earnings results on Thursday, July 30th. The industrial products company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.17. The company had revenue of $179.20 million during the quarter, compared to analysts’ expectations of $166.00 million. Myers Industries had a return on equity of 19.86% and a net margin of 4.86%.

Wall Street Analysts Forecast Growth

MYE has been the topic of a number of recent analyst reports. KeyCorp increased their target price on Myers Industries from $26.00 to $37.00 and gave the company an “overweight” rating in a research report on Tuesday, June 30th. Weiss Ratings raised shares of Myers Industries from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, August 28th. Finally, Wall Street Zen upgraded shares of Myers Industries from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $37.00.

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.