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

Myers Industries, Inc. (NYSE:MYE) declared a quarterly dividend on Tuesday, September 8th. Stockholders of record on Friday, September 18th will be paid 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% indicating that its dividend is sufficiently covered by earnings.

Myers Industries Stock Performance

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

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

Institutional Trading of Myers Industries

A number of large investors have recently modified their holdings of the stock. Lazard Asset Management LLC grew its stake in Myers Industries by 69.8% during the 1st quarter. Lazard Asset Management LLC now owns 155,766 shares of the industrial products company’s stock worth $3,299,000 after purchasing an additional 64,018 shares in the last quarter. Sei Investments Co. increased its holdings in Myers Industries by 77.5% during the 1st quarter. Sei Investments Co. now owns 358,375 shares of the industrial products company’s stock worth $7,590,000 after purchasing an additional 156,470 shares during the period. Principal Financial Group Inc. raised its position in Myers Industries by 86.8% in the 1st quarter. Principal Financial Group Inc. now owns 69,583 shares of the industrial products company’s stock valued at $1,474,000 after purchasing an additional 32,340 shares in the last quarter. Pzena Investment Management LLC raised its position in Myers Industries by 813.5% in the 4th quarter. Pzena Investment Management LLC now owns 1,302,309 shares of the industrial products company’s stock valued at $24,379,000 after purchasing an additional 1,159,746 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Myers Industries by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,589,420 shares of the industrial products company’s stock valued at $33,663,000 after buying an additional 39,565 shares during the period. Hedge funds and other institutional investors own 90.82% of the company’s stock.

About Myers Industries

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.