Marine Products (NYSE:MPX) Stock Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Marine Products Corporation's stock price has crossed above its 200-day moving average, trading at $8.86 with a high of $8.95 during recent trading activity.
• The company reported **$0.12 earnings per share** for the last quarter, meeting analysts' expectations, while its revenue was slightly below estimates at **$67.70 million**.
• Marine Products declared a **$0.14 quarterly dividend**, equating to an annualized yield of **6.3%**, though its payout ratio stands high at **140.00%**.

Shares of Marine Products Corporation (NYSE:MPX - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.53 and traded as high as $8.95. Marine Products shares last traded at $8.86, with a volume of 9,919 shares.

Marine Products Price Performance

The firm has a market cap of $310.21 million, a price-to-earnings ratio of 22.16 and a beta of 0.93. The firm's fifty day moving average is $8.62 and its two-hundred day moving average is $8.53.

Marine Products (NYSE:MPX - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $0.12 earnings per share 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 business had revenue of $67.70 million during the quarter, compared to the consensus estimate of $67.80 million. On average, equities analysts forecast that Marine Products Corporation will post 0.4 earnings per share for the current fiscal year.

Marine Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Monday, August 11th will be given a $0.14 dividend. The ex-dividend date is Monday, August 11th. This represents a $0.56 annualized dividend and a yield of 6.3%. Marine Products's payout ratio is 140.00%.

Institutional Investors Weigh In On Marine Products

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Corient Private Wealth LLC bought a new stake in Marine Products in the second quarter worth about $85,000. De Lisle Partners LLP raised its position 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. Russell Investments Group Ltd. raised its position 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. Police & Firemen s Retirement System of New Jersey bought a new stake in Marine Products in the second quarter worth about $26,000. Finally, Geode Capital Management LLC raised its position 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. 13.86% of the stock is currently owned by institutional investors.

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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