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

Myers Industries, Inc. (NYSE:MYE) announced a quarterly dividend on Tuesday, March 4th, RTT News reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.135 per share by the industrial products company on Friday, April 4th. This represents a $0.54 annualized dividend and a yield of 5.57%. The ex-dividend date is Friday, March 14th.

Myers Industries has a payout ratio of 34.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Myers Industries to earn $1.17 per share next year, which means the company should continue to be able to cover its $0.54 annual dividend with an expected future payout ratio of 46.2%.

Myers Industries Price Performance

Shares of MYE stock opened at $9.70 on Thursday. Myers Industries has a 1 year low of $9.32 and a 1 year high of $23.63. The firm’s 50 day moving average is $11.50 and its 200-day moving average is $12.37. The firm has a market capitalization of $361.42 million, a price-to-earnings ratio of 23.10 and a beta of 1.21. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 1.36.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on MYE shares. KeyCorp lowered shares of Myers Industries from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, November 6th. StockNews.com lowered shares of Myers Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, January 28th.

Insider Activity at Myers Industries

In other news, CEO Dave Basque bought 5,000 shares of the stock in a transaction on Monday, December 9th. The stock was purchased at an average price of $12.41 per share, with a total value of $62,050.00. Following the completion of the purchase, the chief executive officer now owns 39,152 shares of the company’s stock, valued at approximately $485,876.32. This trade represents a 14.64 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.40% of the stock is currently owned by company insiders.

About Myers Industries

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.