Myers Industries (NYSE:MYE) Posts Earnings Results, Beats Estimates By $0.09 EPS

Myers Industries (NYSE:MYE) released its quarterly earnings results on Thursday. The industrial products company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.09, Zacks reports. Myers Industries had a net margin of 1.88% and a return on equity of 14.75%.

Myers Industries Price Performance

Shares of MYE traded up $2.33 during midday trading on Thursday, hitting $12.07. 675,812 shares of the company traded hands, compared to its average volume of 289,649. The stock has a 50-day moving average of $11.50 and a 200-day moving average of $12.37. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.80 and a quick ratio of 1.11. Myers Industries has a one year low of $9.32 and a one year high of $23.63. The firm has a market cap of $449.73 million, a P/E ratio of 28.61 and a beta of 1.21.

Myers Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be issued a dividend of $0.135 per share. The ex-dividend date is Friday, March 14th. This represents a $0.54 dividend on an annualized basis and a yield of 4.47%. Myers Industries’s dividend payout ratio (DPR) is 128.57%.

Insider Activity at Myers Industries

In related news, CEO Dave Basque acquired 5,000 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was purchased at an average price of $12.41 per share, with a total value of $62,050.00. Following the completion of the purchase, the chief executive officer now owns 39,152 shares in the company, valued at $485,876.32. This trade represents a 14.64 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MYE has been the topic of a number of research analyst 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 downgraded Myers Industries from an “overweight” rating to a “sector weight” rating in a research report 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.