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 Ratings Changes
A number of equities analysts have recently issued reports on MYE shares. StockNews.com downgraded Myers Industries from a "strong-buy" rating to a "buy" rating in a research report on Friday. Cowen increased their target price on shares of Myers Industries to $28.50 in a report on Tuesday.
Myers Industries Stock Up 1.6 %
Myers Industries stock traded up $0.34 during mid-day trading on Friday, reaching $21.76. 85,611 shares of the company were exchanged, compared to its average volume of 120,863. Myers Industries has a 12-month low of $15.82 and a 12-month high of $25.55. The business has a fifty day moving average of $22.66 and a 200 day moving average of $21.03. The firm has a market cap of $793.59 million, a P/E ratio of 16.48 and a beta of 1.33. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.04 and a current ratio of 1.72.
Myers Industries Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 5th. Stockholders of record on Friday, June 17th were issued a $0.135 dividend. The ex-dividend date was Thursday, June 16th. This represents a $0.54 annualized dividend and a dividend yield of 2.48%. Myers Industries's dividend payout ratio (DPR) is presently 40.91%.