Marine Products (NYSE:MPX) Issues Earnings Results, Meets Estimates

Key Points

• Marine Products (NYSE:MPX) reported an earnings per share (EPS) of $0.12 for the quarter, in line with analysts' expectations, while revenue was slightly below estimates at $67.70 million.
• The company announced a quarterly dividend of $0.14 per share, resulting in an annualized dividend of $0.56 and a dividend yield of 6.27%.
• Institutional investor Rhumbline Advisers increased its stake in Marine Products by 66.6%, now owning 21,525 shares valued at approximately $181,000.

Marine Products (NYSE:MPX - Get Free Report) posted its earnings results on Thursday. The company reported $0.12 EPS for the quarter, hitting analysts' consensus estimates of $0.12, Zacks reports. Marine Products had a net margin of 6.26% and a return on equity of 10.96%. The business had revenue of $67.70 million during the quarter, compared to the consensus estimate of $67.80 million.

Marine Products Stock Performance

Shares of Marine Products stock opened at $8.93 on Friday. The company has a market capitalization of $312.19 million, a P/E ratio of 22.33 and a beta of 0.90. The company has a fifty day moving average of $8.53 and a 200 day moving average of $8.59. Marine Products has a fifty-two week low of $7.49 and a fifty-two week high of $10.89.

Marine Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 11th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 6.27%. The ex-dividend date of this dividend is Monday, August 11th. Marine Products's payout ratio is 133.33%.

Institutional Trading of Marine Products

An institutional investor recently raised its position in Marine Products stock. Rhumbline Advisers boosted its stake in Marine Products Corporation (NYSE:MPX - Free Report) by 66.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,525 shares of the company's stock after purchasing an additional 8,602 shares during the quarter. Rhumbline Advisers owned about 0.06% of Marine Products worth $181,000 as of its most recent SEC filing. Institutional investors own 13.86% of the company's stock.

Marine Products Company Profile

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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