Marine Products (NYSE:MPX) Shares Pass Above 200 Day Moving Average - Time to Sell?

Marine Products Corporation (NYSE:MPX - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.63 and traded as high as $9.10. Marine Products shares last traded at $9.10, with a volume of 47,364 shares.

Marine Products Stock Performance

The company has a market cap of $318.14 million, a P/E ratio of 21.67 and a beta of 0.90. The firm has a 50 day moving average price of $8.45 and a 200-day moving average price of $8.62.

Marine Products (NYSE:MPX - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.02). The company had revenue of $59.00 million for the quarter, compared to the consensus estimate of $65.90 million. Marine Products had a return on equity of 12.05% and a net margin of 6.84%. On average, sell-side analysts forecast that Marine Products Corporation will post 0.4 EPS for the current fiscal year.

Marine Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $0.56 annualized dividend and a dividend yield of 6.15%. Marine Products's dividend payout ratio (DPR) is presently 133.33%.

Institutional Trading of Marine Products

Several large investors have recently made changes to their positions in the stock. Rhumbline Advisers boosted its stake in Marine Products by 10.6% during the 4th quarter. Rhumbline Advisers now owns 12,923 shares of the company's stock valued at $118,000 after purchasing an additional 1,236 shares during the period. Gamco Investors INC. ET AL boosted its stake in Marine Products by 0.3% during the 4th quarter. Gamco Investors INC. ET AL now owns 514,007 shares of the company's stock valued at $4,713,000 after purchasing an additional 1,398 shares during the period. Barclays PLC boosted its stake in Marine Products by 12.2% during the 4th quarter. Barclays PLC now owns 13,524 shares of the company's stock valued at $124,000 after purchasing an additional 1,474 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Marine Products by 8.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 25,788 shares of the company's stock valued at $216,000 after purchasing an additional 1,959 shares during the period. Finally, Bank of America Corp DE lifted its position in shares of Marine Products by 19.4% in the 4th quarter. Bank of America Corp DE now owns 14,277 shares of the company's stock worth $131,000 after acquiring an additional 2,321 shares during the period. 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.