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

Myers Industries, Inc. (NYSE:MYE) declared a quarterly dividend on Tuesday, March 4th, RTT News reports. Investors 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 5.39%.

Myers Industries has a dividend payout ratio of 34.2% meaning 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 2.6 %

MYE stock traded up $0.25 during midday trading on Wednesday, hitting $10.01. The company’s stock had a trading volume of 2,976 shares, compared to its average volume of 269,233. The company’s fifty day moving average price is $11.54 and its 200 day moving average price is $12.41. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.80 and a quick ratio of 1.11. Myers Industries has a twelve month low of $9.32 and a twelve month high of $23.63. The stock has a market capitalization of $372.97 million, a P/E ratio of 23.73 and a beta of 1.23.

Insider Buying and Selling

In other news, CEO Dave Basque bought 5,000 shares of the stock in a transaction dated Thursday, December 5th. The shares were bought at an average price of $12.13 per share, for a total transaction of $60,650.00. Following the completion of the purchase, the chief executive officer now owns 34,152 shares in the company, valued at approximately $414,263.76. This trade represents a 17.15 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders purchased 11,000 shares of company stock valued at $134,850. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. KeyCorp downgraded Myers Industries from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, November 6th. StockNews.com downgraded Myers Industries from a “hold” rating to a “sell” rating in a report on Tuesday, January 28th.

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.