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

Myers Industries, Inc. (NYSE:MYE) announced a quarterly dividend on Wednesday, June 3rd. Shareholders of record on Wednesday, June 17th will be paid a dividend of 0.135 per share by the industrial products company on Thursday, July 2nd. This represents a c) annualized dividend and a yield of 2.3%. The ex-dividend date is Wednesday, June 17th.

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

Myers Industries Stock Performance

Shares of MYE stock opened at $23.09 on Thursday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.29 and a current ratio of 1.65. The firm has a market cap of $867.30 million, a price-to-earnings ratio of 32.99 and a beta of 0.98. Myers Industries has a 52 week low of $12.96 and a 52 week high of $24.25. The firm’s 50-day simple moving average is $21.79 and its two-hundred day simple moving average is $20.69.

Myers Industries (NYSE:MYE) last issued its quarterly earnings results on Thursday, May 7th. The industrial products company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.16. Myers Industries had a net margin of 3.36% and a return on equity of 17.23%. The company had revenue of $164.58 million during the quarter, compared to analyst estimates of $209.30 million.

Wall Street Analyst Weigh In

Several analysts have issued reports on MYE shares. Weiss Ratings lowered Myers Industries from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Wall Street Zen lowered Myers Industries from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Myers Industries currently has a consensus rating of “Hold” and a consensus target price of $21.00.

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.