Marine Products (NYSE:MPX) Stock Price Crosses Above 200-Day Moving Average of $10.95

Marine Products Co. (NYSE:MPX)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $10.95 and traded as high as $11.39. Marine Products shares last traded at $11.27, with a volume of 38,728 shares.

Marine Products Stock Up 2.2 %

The firm has a market cap of $398.85 million, a P/E ratio of 11.39 and a beta of 1.26. The stock’s 50-day simple moving average is $10.95 and its 200 day simple moving average is $10.94.

Marine Products (NYSE:MPX) last issued its quarterly earnings results on Thursday, January 25th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). The firm had revenue of $70.87 million for the quarter. Marine Products had a net margin of 10.40% and a return on equity of 23.40%. During the same quarter in the prior year, the business earned $0.35 earnings per share. On average, research analysts forecast that Marine Products Co. will post 0.95 earnings per share for the current fiscal year.

Marine Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be given a dividend of $0.14 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.87%. Marine Products’s dividend payout ratio (DPR) is presently 55.45%.

Hedge Funds Weigh In On Marine Products

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Denali Advisors LLC increased its stake in Marine Products by 27.7% in the 1st quarter. Denali Advisors LLC now owns 70,600 shares of the company’s stock valued at $830,000 after buying an additional 15,300 shares during the last quarter. Teacher Retirement System of Texas bought a new position in shares of Marine Products during the 4th quarter valued at approximately $155,000. Los Angeles Capital Management LLC boosted its holdings in Marine Products by 110.7% in the 4th quarter. Los Angeles Capital Management LLC now owns 56,917 shares of the company’s stock worth $649,000 after buying an additional 29,905 shares during the period. Triumph Capital Management bought a new position in Marine Products in the 4th quarter worth approximately $155,000. Finally, Victory Capital Management Inc. bought a new position in Marine Products in the 4th quarter valued at $72,000. 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.