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

Myers Industries, Inc. (NYSE:MYE) announced a quarterly dividend on Wednesday, June 3rd. Investors of record on Wednesday, June 17th will be given a dividend of 0.135 per share by the industrial products company on Thursday, July 2nd. This represents a c) dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Wednesday, June 17th.

Myers Industries has a dividend payout ratio of 34.0% meaning its dividend is sufficiently covered by earnings.

Myers Industries Stock Performance

NYSE MYE opened at $23.09 on Thursday. The stock has a market cap of $867.30 million, a P/E ratio of 32.99 and a beta of 0.98. The company’s 50-day simple moving average is $21.79 and its 200 day simple moving average is $20.69. Myers Industries has a twelve month low of $12.96 and a twelve month high of $24.25. The company has a quick ratio of 1.29, a current ratio of 1.65 and a debt-to-equity ratio of 1.04.

Myers Industries (NYSE:MYE) last issued its quarterly earnings data on Thursday, May 7th. The industrial products company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.16. The firm had revenue of $164.58 million for the quarter, compared to analysts’ expectations of $209.30 million. Myers Industries had a net margin of 3.36% and a return on equity of 17.23%.

Hedge Funds Weigh In On Myers Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of MYE. NewEdge Advisors LLC acquired a new stake in Myers Industries in the first quarter worth $43,000. Bank of America Corp DE raised its holdings in shares of Myers Industries by 2.0% in the first quarter. Bank of America Corp DE now owns 318,135 shares of the industrial products company’s stock valued at $6,738,000 after purchasing an additional 6,147 shares during the last quarter. Quantinno Capital Management LP increased its stake in Myers Industries by 5.9% in the 1st quarter. Quantinno Capital Management LP now owns 48,499 shares of the industrial products company’s stock valued at $1,027,000 after buying an additional 2,709 shares during the last quarter. Lazard Asset Management LLC increased its stake in Myers Industries by 69.8% in the 1st quarter. Lazard Asset Management LLC now owns 155,766 shares of the industrial products company’s stock valued at $3,299,000 after buying an additional 64,018 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Myers Industries by 10.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 712,692 shares of the industrial products company’s stock valued at $15,095,000 after buying an additional 67,080 shares during the last quarter. 90.82% of the stock is owned by institutional investors.

About Myers Industries

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.