Myers Industries, Inc. engages in distribution of tire service supplies in Ohio. It operates through The Material Handling and Distribution segments. The Material Handling segment offers pallets, small parts bins, bulk shipping containers, OEM parts, storage, organization, and custom plastic products; injection molded, rotationally molded or blow molded products, consumer fuel containers and tanks for water, fuel, and waste handling. It serves industrial manufacturing, food processing, retail/wholesale products distribution, agriculture, automotive, recreational, and marine vehicles, healthcare, appliance, bakery, electronics, textiles, consumer markets, and other markets under Akro-Mils, Jamco, Buckhorn, Ameri-Kart, Scepter, Elkhart Plastics, and Trilogy Plastics brands directly, as well as through distributors. The Distribution segment engages in the distribution of tools, equipment, and supplies for tire, wheel, and undervehicle service on passenger, heavy truck, and off-road vehicles; and manufacture and sale of tire repair materials and custom rubber products, as well as reflective highway marking tapes. This segment serves retail and truck tire dealers, commercial auto and truck fleets, auto dealers, general service and repair centers, tire re-treaders, truck stop operations, and government agencies. The company was founded in 1933 and is headquartered in Akron, Ohio.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on the stock. StockNews.com lowered shares of Myers Industries from a "strong-buy" rating to a "buy" rating in a research note on Friday. Cowen lifted their price objective on Myers Industries to $28.50 in a research note on Tuesday, August 9th.
Myers Industries Stock Performance
Shares of NYSE:MYE traded up $0.34 during midday trading on Friday, reaching $21.76. 85,611 shares of the stock were exchanged, compared to its average volume of 120,863. The company has a quick ratio of 1.04, a current ratio of 1.72 and a debt-to-equity ratio of 0.48. The firm has a market cap of $793.59 million, a price-to-earnings ratio of 16.48 and a beta of 1.33. The firm has a 50-day simple moving average of $22.66 and a two-hundred day simple moving average of $21.06. Myers Industries has a twelve month low of $15.82 and a twelve month high of $25.55.
Myers Industries Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 5th. Investors of record on Friday, June 17th were given a dividend of $0.135 per share. The ex-dividend date was Thursday, June 16th. This represents a $0.54 annualized dividend and a yield of 2.48%. Myers Industries's dividend payout ratio is presently 40.91%.