Myers Industries, Inc. (MYE) to Issue Quarterly Dividend of $0.14 on January 3rd

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

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

Myers Industries Stock Down 1.8 %

Shares of NYSE:MYE opened at $12.23 on Friday. 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 stock has a market cap of $454.75 million, a price-to-earnings ratio of 11.54 and a beta of 1.21. The company has a 50 day moving average of $13.73 and a 200-day moving average of $15.35. Myers Industries has a one year low of $12.15 and a one year high of $23.63.

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

Analyst Upgrades and Downgrades

Separately, KeyCorp reduced their target price on Myers Industries from $27.00 to $22.00 and set an “overweight” rating on the stock 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.