Marine Products (NYSE:MPX) Stock Passes Above 200-Day Moving Average – What’s Next?

Marine Products Corporation (NYSE:MPX) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-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 traded.

Marine Products Price Performance

The company has a 50-day moving average of $8.44 and a two-hundred day moving average of $8.63. The stock has a market capitalization of $318.14 million, a PE ratio of 21.67 and a beta of 0.90.

Marine Products (NYSE:MPX) last announced its quarterly earnings results on Thursday, April 24th. The company reported $0.06 EPS 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%. On average, research 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. Shareholders of record on Friday, May 9th were paid a dividend of $0.14 per share. The ex-dividend date was Friday, May 9th. This represents a $0.56 annualized dividend and a yield of 6.15%. Marine Products’s dividend payout ratio is presently 133.33%.

Institutional Investors Weigh In On Marine Products

A number of large investors have recently modified their holdings of MPX. Wells Fargo & Company MN grew its stake in shares of Marine Products by 88.5% in the fourth quarter. Wells Fargo & Company MN now owns 7,732 shares of the company’s stock valued at $71,000 after buying an additional 3,631 shares in the last quarter. Strs Ohio acquired a new stake in shares of Marine Products in the first quarter valued at about $77,000. Summit Financial Strategies Inc. acquired a new stake in shares of Marine Products in the first quarter valued at about $92,000. Burney Co. acquired a new stake in shares of Marine Products in the first quarter valued at about $108,000. Finally, Rhumbline Advisers grew its stake in shares of Marine Products by 10.6% in the fourth quarter. Rhumbline Advisers now owns 12,923 shares of the company’s stock valued at $118,000 after buying an additional 1,236 shares in the last quarter. Institutional investors and hedge funds own 13.86% of the company’s stock.

About Marine Products

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.