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.
Wall Street Analyst Weigh In
MYE has been the subject of several recent analyst reports. Cowen raised their price objective on shares of Myers Industries to $28.50 in a research report on Tuesday. StockNews.com cut shares of Myers Industries from a "strong-buy" rating to a "buy" rating in a research note on Friday.
Myers Industries Trading Up 1.6 %
NYSE:MYE traded up $0.34 on Friday, reaching $21.76. The company's stock had a trading volume of 85,611 shares, compared to its average volume of 129,497. Myers Industries has a 12-month low of $15.82 and a 12-month high of $25.55. The stock has a 50 day moving average price of $22.73 and a 200 day moving average price of $21.01. The firm has a market cap of $793.54 million, a price-to-earnings ratio of 16.21 and a beta of 1.33. The company has a quick ratio of 1.04, a current ratio of 1.72 and a debt-to-equity ratio of 0.48.
Myers Industries Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 5th. Shareholders of record on Friday, June 17th were given a $0.135 dividend. The ex-dividend date was Thursday, June 16th. This represents a $0.54 dividend on an annualized basis and a yield of 2.48%. Myers Industries's payout ratio is currently 40.91%.