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

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

Myers Industries has a dividend payout ratio of 34.0% 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 Price Performance

Shares of MYE stock traded up $0.05 during trading hours on Wednesday, reaching $21.08. 129,030 shares of the company were exchanged, compared to its average volume of 286,396. Myers Industries has a fifty-two week low of $9.06 and a fifty-two week high of $24.03. The stock’s fifty day moving average is $21.01 and its two-hundred day moving average is $18.66. The company has a market cap of $788.39 million, a price-to-earnings ratio of 22.60 and a beta of 1.06. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.67 and a quick ratio of 1.16.

Myers Industries (NYSE:MYE) last issued its quarterly earnings results on Thursday, March 5th. The industrial products company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.08. Myers Industries had a net margin of 4.23% and a return on equity of 14.46%. The business had revenue of $203.97 million during the quarter, compared to analyst estimates of $202.60 million. Sell-side analysts forecast that Myers Industries will post 0.95 earnings per share for the current fiscal year.

Institutional Trading of Myers Industries

Several institutional investors and hedge funds have recently made changes to their positions in MYE. EverSource Wealth Advisors LLC lifted its stake in shares of Myers Industries by 36.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,904 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 505 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Myers Industries by 5.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 14,871 shares of the industrial products company’s stock valued at $248,000 after purchasing an additional 708 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Myers Industries by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,835 shares of the industrial products company’s stock valued at $260,000 after buying an additional 936 shares during the period. Franklin Resources Inc. boosted its holdings in Myers Industries by 3.9% during the third quarter. Franklin Resources Inc. now owns 28,708 shares of the industrial products company’s stock worth $486,000 after buying an additional 1,081 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in Myers Industries by 5.4% during the fourth quarter. LPL Financial LLC now owns 21,945 shares of the industrial products company’s stock worth $411,000 after buying an additional 1,133 shares during the last quarter. Institutional investors own 90.82% of the company’s stock.

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.