Myers Industries, Inc. (NYSE:MYE – Get Free Report) declared a quarterly dividend on Tuesday, September 8th. Investors of record on Friday, September 18th will be paid a dividend of 0.135 per share by the industrial products company on Monday, October 5th. This represents a c) dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, September 18th.
Myers Industries has a payout ratio of 34.0% meaning its dividend is sufficiently covered by earnings.
Myers Industries Price Performance
Shares of MYE opened at $29.73 on Wednesday. Myers Industries has a fifty-two week low of $15.54 and a fifty-two week high of $37.45. The firm’s 50 day moving average price is $32.24 and its 200 day moving average price is $26.56. The company has a market cap of $1.12 billion, a P/E ratio of 30.65 and a beta of 0.87. The company has a quick ratio of 1.21, a current ratio of 1.61 and a debt-to-equity ratio of 0.91.
Institutional Investors Weigh In On Myers Industries
Institutional investors have recently modified their holdings of the company. Tidal Investments LLC purchased a new stake in shares of Myers Industries during the 2nd quarter worth approximately $926,000. WINTON GROUP Ltd acquired a new position in shares of Myers Industries in the 2nd quarter valued at $304,000. Integrated Wealth Concepts LLC purchased a new position in shares of Myers Industries in the 2nd quarter valued at $112,000. HighTower Advisors LLC grew its position in shares of Myers Industries by 34.7% in the 2nd quarter. HighTower Advisors LLC now owns 16,947 shares of the industrial products company’s stock valued at $598,000 after buying an additional 4,363 shares during the last quarter. Finally, AXQ Capital LP acquired a new stake in Myers Industries during the 2nd quarter worth $387,000. 90.82% of the stock is owned by hedge funds and other institutional investors.
About Myers Industries
Myers Industries, Inc is an industrial manufacturing and distribution company headquartered in Akron, Ohio. The company serves customers primarily in North America through two principal business areas: material handling and distribution.
Its material handling business manufactures reusable plastic products used to store, transport and protect materials. Products include pallets, totes, containers, drums, tanks, carts and other custom plastic components for industrial, agricultural, automotive, food processing and commercial applications.
Through its distribution operations, including Myers Tire Supply, the company provides tire service supplies, equipment and related products to tire dealers, automotive service businesses and commercial customers.
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