Marine Products Corporation (NYSE:MPX - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $8.61 and traded as high as $8.84. Marine Products shares last traded at $8.57, with a volume of 20,246 shares.
Analyst Ratings Changes
Separately, Weiss Ratings restated a "hold (c-)" rating on shares of Marine Products in a research note on Saturday, September 27th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold".
Read Our Latest Stock Analysis on Marine Products
Marine Products Stock Down 2.8%
The company's fifty day moving average is $8.89 and its two-hundred day moving average is $8.61. The stock has a market cap of $299.95 million, a price-to-earnings ratio of 21.43 and a beta of 0.95.
Marine Products (NYSE:MPX - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.12 EPS for the quarter, hitting the consensus estimate of $0.12. Marine Products had a net margin of 6.26% and a return on equity of 10.98%. The company had revenue of $67.70 million during the quarter, compared to analysts' expectations of $67.80 million. Sell-side analysts predict that Marine Products Corporation will post 0.4 EPS for the current fiscal year.
Marine Products Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Monday, August 11th were paid a $0.14 dividend. The ex-dividend date was Monday, August 11th. This represents a $0.56 dividend on an annualized basis and a yield of 6.5%. Marine Products's dividend payout ratio (DPR) is currently 140.00%.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the business. Rhumbline Advisers raised its position in shares of Marine Products by 66.6% during the 1st quarter. Rhumbline Advisers now owns 21,525 shares of the company's stock worth $181,000 after acquiring an additional 8,602 shares in the last quarter. Bank of America Corp DE increased its stake in Marine Products by 19.4% in the fourth quarter. Bank of America Corp DE now owns 14,277 shares of the company's stock valued at $131,000 after purchasing an additional 2,321 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Marine Products by 21.4% during the first quarter. Russell Investments Group Ltd. now owns 204,792 shares of the company's stock worth $1,718,000 after purchasing an additional 36,160 shares in the last quarter. Nuveen LLC acquired a new stake in Marine Products during the first quarter worth approximately $233,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Marine Products by 8.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 25,788 shares of the company's stock worth $216,000 after buying an additional 1,959 shares during the last quarter. Hedge funds and other institutional investors own 13.86% of the company's stock.
About Marine Products
(
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.
Further Reading
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