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

Myers Industries, Inc. (NYSE:MYE) announced a quarterly dividend on Tuesday, March 4th, RTT News reports. Shareholders of record on Friday, March 14th will be given a dividend of 0.135 per share by the industrial products company on Friday, April 4th. This represents a $0.54 dividend on an annualized basis and a yield of 5.54%.

Myers Industries has a payout ratio of 34.2% 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 Performance

Shares of NYSE:MYE traded down $0.06 during trading on Tuesday, reaching $9.76. The company had a trading volume of 387,606 shares, compared to its average volume of 275,761. Myers Industries has a fifty-two week low of $9.32 and a fifty-two week high of $23.63. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.80 and a quick ratio of 1.11. The stock’s fifty day moving average price is $11.54 and its 200 day moving average price is $12.41. The firm has a market capitalization of $363.47 million, a price-to-earnings ratio of 23.23 and a beta of 1.23.

Insider Transactions at Myers Industries

In related news, CEO Dave Basque purchased 5,000 shares of the stock in a transaction dated Thursday, December 5th. The shares were acquired at an average cost of $12.13 per share, with a total value of $60,650.00. Following the purchase, the chief executive officer now directly owns 34,152 shares in the company, valued at $414,263.76. This trade represents a 17.15 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last three months, insiders acquired 11,000 shares of company stock valued at $134,850. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

MYE has been the topic of several recent research reports. StockNews.com cut shares of Myers Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, January 28th. KeyCorp lowered shares of Myers Industries from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, November 6th.

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.