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

Myers Industries, Inc. (NYSE:MYE - Get Free Report) 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 dividend payout ratio of 34.2% indicating that its dividend is sufficiently covered by earnings. Equities 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 Down 0.6 %

Shares of NYSE:MYE traded down $0.06 on Tuesday, hitting $9.76. 387,606 shares of the company's stock were exchanged, compared to its average volume of 275,761. Myers Industries has a 1-year low of $9.32 and a 1-year high of $23.63. The company has a market capitalization of $363.47 million, a PE ratio of 23.23 and a beta of 1.23. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.11 and a current ratio of 1.80. The firm's 50-day moving average is $11.54 and its 200 day moving average is $12.41.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. StockNews.com downgraded Myers Industries from a "hold" rating to a "sell" rating in a report on Tuesday, January 28th. KeyCorp cut shares of Myers Industries from an "overweight" rating to a "sector weight" rating in a report on Wednesday, November 6th.

Insider Transactions at Myers Industries

In other Myers Industries news, CEO Dave Basque bought 5,000 shares of the stock in a transaction dated Monday, December 9th. The shares were acquired at an average cost of $12.41 per share, for a total transaction of $62,050.00. Following the completion of the transaction, the chief executive officer now owns 39,152 shares in the company, valued at approximately $485,876.32. The trade was a 14.64 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have bought 11,000 shares of company stock worth $134,850. Corporate insiders own 1.40% of the company's stock.

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.

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