Marine Products Corporation (NYSE:MPX - Get Free Report) declared a quarterly dividend on Thursday, July 24th, RTT News reports. Shareholders of record on Monday, August 11th will be given a dividend of 0.14 per share on Wednesday, September 10th. This represents a $0.56 annualized dividend and a yield of 6.28%. The ex-dividend date of this dividend is Monday, August 11th.
Marine Products has a payout ratio of 112.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Marine Products to earn $0.50 per share next year, which means the company may not be able to cover its $0.56 annual dividend with an expected future payout ratio of 112.0%.
Marine Products Stock Performance
NYSE:MPX traded down $0.03 during trading hours on Monday, hitting $8.92. The company's stock had a trading volume of 14,004 shares, compared to its average volume of 27,940. The business's 50-day moving average is $8.53 and its two-hundred day moving average is $8.58. The company has a market capitalization of $311.84 million, a PE ratio of 22.30 and a beta of 0.90. Marine Products has a 52-week low of $7.49 and a 52-week high of $10.89.
Marine Products (NYSE:MPX - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $0.12 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.12. The firm had revenue of $67.70 million during the quarter, compared to analysts' expectations of $67.80 million. Marine Products had a return on equity of 10.98% and a net margin of 6.26%. As a group, analysts predict that Marine Products will post 0.4 EPS for the current fiscal year.
Institutional Inflows and Outflows
An institutional investor recently bought a new position in Marine Products stock. Strs Ohio bought a new stake in Marine Products Corporation (NYSE:MPX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,200 shares of the company's stock, valued at approximately $77,000. Hedge funds and other institutional investors own 13.86% of the company's stock.
Marine Products Company Profile
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Get Free Report)
Marine Products Corporation designs, manufactures, and sells recreational fiberglass powerboats for the sport boat and sport fishing boat markets worldwide. The company offers Chaparral sterndrive pleasure boats, including SSi Sport Boats, SSX Sport Boats, and the Surf Series; Chaparral outboard pleasure boats, which include OSX Luxury Sportboats and SSi outboard models; and Robalo outboard sport fishing boats.
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