Myers Industries, Inc. (MYE) to Issue Quarterly Dividend of $0.14 on April 2nd

Myers Industries, Inc. (NYSE:MYE) declared a quarterly dividend on Monday, March 9th, Wall Street Journal reports. Stockholders of record on Wednesday, March 18th will be given a dividend of 0.135 per share by the industrial products company on Thursday, April 2nd. This represents a $0.54 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Tuesday, March 17th.

Myers Industries has a dividend payout ratio of 62.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Myers Industries to earn $0.94 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 57.4%.

Myers Industries stock opened at $13.48 on Wednesday. The stock has a market cap of $518.95 million, a P/E ratio of 19.82 and a beta of 1.52. The company has a current ratio of 2.24, a quick ratio of 1.70 and a debt-to-equity ratio of 0.49. The stock has a 50 day moving average of $15.72 and a 200-day moving average of $16.48. Myers Industries has a 52 week low of $12.98 and a 52 week high of $19.55.

Myers Industries (NYSE:MYE) last released its earnings results on Tuesday, March 3rd. The industrial products company reported $0.12 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.12. Myers Industries had a return on equity of 17.02% and a net margin of 4.72%. The company had revenue of $116.80 million during the quarter, compared to analysts’ expectations of $127.57 million. During the same period in the prior year, the business posted $0.13 EPS. The business’s revenue was down 15.6% on a year-over-year basis. As a group, equities analysts predict that Myers Industries will post 0.88 earnings per share for the current fiscal year.

A number of research firms have issued reports on MYE. Robert W. Baird cut their target price on Myers Industries from $20.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 4th. JPMorgan Chase & Co. cut their target price on Myers Industries from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 4th. Finally, Zacks Investment Research upgraded Myers Industries from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research note on Friday, March 6th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $18.00.

Myers Industries Company Profile

Myers Industries, Inc manufactures and sells polymer products for industrial, agricultural, automotive, commercial, and consumer markets worldwide. The company's Material Handling segment provides plastic reusable material handling containers, pallets, small parts bins, bulk shipping containers, storage and organization products, and rotationally-molded plastic tanks for water, fuel, and waste handling applications; welded steel service carts, platform trucks, mobile work centers, racks, and cabinets; plastic trim and interior parts used in the production of seat components, consoles, and other applications in the recreational vehicle, marine, and industrial markets; and plastic fuel containers, portable marine fuel tanks and water containers, ammunition containers, and storage totes under the Buckhorn, Akro-Mils, Jamco Products, Ameri-Kart, and Scepter brands.

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Dividend History for Myers Industries (NYSE:MYE)

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