Marine Products Corporation (NYSE:MPX - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 trading hands.
Marine Products Trading Down 2.5%
The company has a market capitalization of $310.05 million, a price-to-earnings ratio of 21.12 and a beta of 0.90. The firm's fifty day simple moving average is $8.45 and its two-hundred day simple moving average is $8.61.
Marine Products (NYSE:MPX - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.02). Marine Products had a net margin of 6.84% and a return on equity of 12.05%. The firm had revenue of $59.00 million during the quarter, compared to analyst estimates of $65.90 million. As a group, analysts forecast that Marine Products Corporation will post 0.4 EPS for the current fiscal year.
Marine Products Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were given a dividend of $0.14 per share. The ex-dividend date was Friday, May 9th. This represents a $0.56 annualized dividend and a dividend yield of 6.31%. Marine Products's dividend payout ratio is currently 133.33%.
Institutional Investors Weigh In On Marine Products
Institutional investors and hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN increased its stake in Marine Products by 88.5% during the 4th quarter. Wells Fargo & Company MN now owns 7,732 shares of the company's stock worth $71,000 after buying an additional 3,631 shares during the period. Strs Ohio purchased a new stake in Marine Products during the 1st quarter worth approximately $77,000. Summit Financial Strategies Inc. purchased a new stake in Marine Products during the 1st quarter worth approximately $92,000. Burney Co. purchased a new stake in Marine Products during the 1st quarter worth approximately $108,000. Finally, Rhumbline Advisers increased its stake in Marine Products by 10.6% during the 4th quarter. Rhumbline Advisers now owns 12,923 shares of the company's stock worth $118,000 after buying an additional 1,236 shares during the period. 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.
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