Myers Industries, Inc. (MYE) To Go Ex-Dividend on March 13th

Myers Industries, Inc. (NYSE:MYE) declared a quarterly dividend on Friday, February 27th. Investors of record on Friday, March 13th will be paid a dividend of 0.135 per share by the industrial products company on Friday, April 3rd. This represents a c) annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, March 13th.

Myers Industries has a dividend payout ratio of 34.0% 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 Stock Up 0.3%

NYSE:MYE traded up $0.06 during trading hours on Wednesday, hitting $21.09. 162,972 shares of the company traded hands, compared to its average volume of 287,180. The company has a quick ratio of 1.16, a current ratio of 1.67 and a debt-to-equity ratio of 1.08. The company has a market cap of $788.58 million, a PE ratio of 22.67 and a beta of 1.06. The firm’s 50-day simple moving average is $21.01 and its 200-day simple moving average is $18.66. Myers Industries has a one year low of $9.06 and a one year high of $24.03.

Myers Industries (NYSE:MYE) last announced its earnings results on Thursday, March 5th. The industrial products company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.23 by $0.08. Myers Industries had a net margin of 4.23% and a return on equity of 14.46%. The company had revenue of $203.97 million during the quarter, compared to the consensus estimate of $202.60 million. Equities analysts predict that Myers Industries will post 0.95 earnings per share for the current year.

Wall Street Analyst Weigh In

MYE has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Myers Industries in a research report on Thursday, January 22nd. Zacks Research upgraded shares of Myers Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 16th. Finally, Wall Street Zen upgraded shares of Myers Industries from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 28th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Myers Industries presently has a consensus rating of “Hold” and an average price target 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.