Marine Products (NYSE:MPX) Stock Passes Above 200-Day Moving Average - Should You Sell?

Key Points

• Marine Products Corporation (NYSE:MPX)'s stock crossed above its 200-day moving average of $8.61, reaching a high of $8.86 during trading.
• The company recently declared a quarterly dividend of $0.14 per share, resulting in an annualized yield of 6.4%, although its dividend payout ratio is currently at 140.00%.
• Wall Street analysts maintain an average rating of "Hold" on the stock, with one research firm recently reaffirming a "hold (c-)" rating.

Marine Products Corporation (NYSE:MPX - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.61 and traded as high as $8.86. Marine Products shares last traded at $8.72, with a volume of 28,773 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a "hold (c-)" rating on shares of Marine Products in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of "Hold".

Marine Products Price Performance

The company has a market capitalization of $305.17 million, a PE ratio of 21.80 and a beta of 0.95. The company has a 50 day moving average of $8.89 and a two-hundred day moving average of $8.61.

Marine Products (NYSE:MPX - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $0.12 earnings per share for the quarter, hitting the consensus estimate of $0.12. The company had revenue of $67.70 million for 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%. On average, equities analysts anticipate that Marine Products Corporation will post 0.4 EPS for the current year.

Marine Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Monday, August 11th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend was Monday, August 11th. Marine Products's dividend payout ratio is presently 140.00%.

Institutional Investors Weigh In On Marine Products

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MPX. De Lisle Partners LLP boosted its holdings in Marine Products by 13.1% in the second quarter. De Lisle Partners LLP now owns 355,019 shares of the company's stock worth $3,024,000 after acquiring an additional 41,258 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Marine Products by 1.0% in the second quarter. Geode Capital Management LLC now owns 248,087 shares of the company's stock worth $2,111,000 after acquiring an additional 2,464 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Marine Products by 6.5% in the second quarter. Russell Investments Group Ltd. now owns 218,093 shares of the company's stock worth $1,856,000 after acquiring an additional 13,301 shares in the last quarter. Nuveen LLC bought a new stake in Marine Products in the first quarter worth $233,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Marine Products by 8.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 25,788 shares of the company's stock worth $216,000 after acquiring an additional 1,959 shares in the last quarter. 13.86% of the stock is owned by hedge funds and other institutional investors.

About Marine Products

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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