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

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Myers Industries, Inc. (NYSE:MYE) declared a quarterly dividend on Wednesday, October 30th, Zacks reports. Shareholders of record on Friday, December 6th will be paid a dividend of 0.135 per share by the industrial products company on Friday, January 3rd. This represents a $0.54 annualized dividend and a yield of 3.27%. The ex-dividend date is Thursday, December 5th.

NYSE MYE opened at $16.50 on Wednesday. The firm has a market capitalization of $587.86 million, a PE ratio of 21.71 and a beta of 1.56. The business’s 50-day moving average price is $16.55 and its two-hundred day moving average price is $17.16. The company has a current ratio of 2.10, a quick ratio of 1.61 and a debt-to-equity ratio of 0.50. Myers Industries has a 12 month low of $14.24 and a 12 month high of $19.55.

Myers Industries (NYSE:MYE) last issued its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.01. The company had revenue of $125.48 million during the quarter, compared to the consensus estimate of $134.90 million. Myers Industries had a return on equity of 17.53% and a net margin of 3.90%. The firm’s revenue was down 7.2% compared to the same quarter last year. During the same period last year, the company earned $0.15 earnings per share. As a group, analysts forecast that Myers Industries will post 0.77 earnings per share for the current fiscal year.

A number of analysts have weighed in on MYE shares. ValuEngine raised shares of Myers Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Zacks Investment Research downgraded shares of Myers Industries from a “hold” rating to a “sell” rating in a research report on Friday, October 18th. Finally, Cowen raised shares of Myers Industries from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $20.00 to $22.00 in a research note on Tuesday, August 27th.

In other news, Director Ronald M. Defeo bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average price of $16.25 per share, for a total transaction of $162,500.00. Following the completion of the acquisition, the director now directly owns 11,570 shares in the company, valued at $188,012.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.84% of the stock is owned by insiders.

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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