Marine Products (NYSE:MPX) Shares Cross Above Two Hundred Day Moving Average - Here's What Happened

Shares of Marine Products Corporation (NYSE:MPX - Get Free Report) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $8.67 and traded as high as $8.80. Marine Products shares last traded at $8.52, with a volume of 21,113 shares trading hands.

Marine Products Trading Down 3.7%

The firm's 50 day simple moving average is $8.41 and its 200-day simple moving average is $8.67. The stock has a market capitalization of $287.37 million, a price-to-earnings ratio of 19.57 and a beta of 0.91.

Marine Products (NYSE:MPX - Get Free Report) last released its quarterly earnings data 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). The firm had revenue of $59.00 million for the quarter, compared to analyst estimates of $65.90 million. Marine Products had a return on equity of 12.05% and a net margin of 6.84%. As a group, equities research analysts predict that Marine Products Corporation will post 0.4 earnings per share for the current year.

Marine Products Announces Dividend

The company also recently disclosed 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 6.81%. Marine Products's dividend payout ratio is presently 133.33%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Rhumbline Advisers increased its stake in shares of 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 purchasing an additional 1,236 shares during the last quarter. Gamco Investors INC. ET AL increased 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 purchasing an additional 1,398 shares during the last quarter. Barclays PLC increased 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 purchasing an additional 1,474 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Marine Products by 8.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 25,788 shares of the company's stock worth $216,000 after buying an additional 1,959 shares during the period. Finally, Bank of America Corp DE grew its stake in Marine Products by 19.4% in the 4th quarter. Bank of America Corp DE now owns 14,277 shares of the company's stock valued at $131,000 after buying an additional 2,321 shares during the last quarter. 13.86% of the stock is currently owned by institutional investors and hedge funds.

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.