Marine Products (NYSE:MPX) Stock Price Crosses Above 200-Day Moving Average - Here's What Happened

Marine Products Corporation (NYSE:MPX - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.62 and traded as high as $9.23. Marine Products shares last traded at $9.10, with a volume of 15,060 shares trading hands.

Marine Products Price Performance

The stock has a 50 day moving average price of $8.51 and a 200-day moving average price of $8.61. The stock has a market capitalization of $297.82 million, a P/E ratio of 20.29 and a beta of 0.90.

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

Marine Products Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 6.57%. The ex-dividend date was Friday, May 9th. Marine Products's dividend payout ratio (DPR) is presently 133.33%.

Institutional Investors Weigh In On Marine Products

A number of large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in shares of Marine Products by 231.2% during the 4th quarter. JPMorgan Chase & Co. now owns 14,269 shares of the company's stock worth $131,000 after acquiring an additional 9,961 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of 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 acquiring an additional 3,631 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Marine Products by 4.1% during the 4th quarter. Russell Investments Group Ltd. now owns 168,632 shares of the company's stock worth $1,546,000 after acquiring an additional 6,582 shares during the last quarter. Barclays PLC boosted its stake in shares of Marine Products by 12.2% during the 4th quarter. Barclays PLC now owns 13,524 shares of the company's stock worth $124,000 after acquiring an additional 1,474 shares during the last quarter. Finally, Gamco Investors INC. ET AL boosted its stake in shares of Marine Products by 0.3% during the 4th quarter. Gamco Investors INC. ET AL now owns 514,007 shares of the company's stock worth $4,713,000 after acquiring an additional 1,398 shares during the last quarter. 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.