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

Myers Industries, Inc. (NYSE:MYE) announced a quarterly dividend on Wednesday, September 4th, Wall Street Journal reports. Stockholders of record on Friday, September 13th will be paid a dividend of 0.135 per share by the industrial products company on Thursday, October 3rd. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend is Friday, September 13th.

Myers Industries has a payout ratio of 36.0% meaning its dividend is sufficiently covered by earnings.

Myers Industries Price Performance

MYE stock opened at $14.41 on Friday. The firm has a market cap of $535.81 million, a P/E ratio of 13.59 and a beta of 1.22. The firm’s fifty day moving average is $14.20 and its 200 day moving average is $17.36. Myers Industries has a 52 week low of $12.47 and a 52 week high of $23.63. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.16 and a current ratio of 1.81.

Myers Industries (NYSE:MYE) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.31 by $0.08. Myers Industries had a return on equity of 16.27% and a net margin of 4.79%. The firm had revenue of $220.24 million for the quarter. During the same quarter in the prior year, the firm posted $0.35 EPS. Research analysts predict that Myers Industries will post 1.13 earnings per share for the current year.

Wall Street Analyst Weigh In

MYE has been the subject of a number of analyst reports. StockNews.com lowered Myers Industries from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. KeyCorp dropped their price target on shares of Myers Industries from $30.00 to $27.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd.

Myers Industries Company Profile

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.