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

Marine Products Co. (NYSE:MPX)’s share price crossed 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 changing hands.

Marine Products Stock Performance

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

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

Marine Products Dividend Announcement

The company also recently declared 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. This represents a $0.56 annualized dividend and a dividend yield of 4.87%. The ex-dividend date is Thursday, May 9th. Marine Products’s dividend payout ratio (DPR) is presently 55.45%.

Hedge Funds Weigh In On Marine Products

Several hedge funds have recently modified their holdings of the company. Barclays PLC grew its holdings in shares of Marine Products by 161.1% in the 3rd quarter. Barclays PLC now owns 6,076 shares of the company’s stock worth $86,000 after acquiring an additional 3,749 shares during the last quarter. Victory Capital Management Inc. acquired a new position in shares of Marine Products in the 4th quarter worth $72,000. Quadrature Capital Ltd acquired a new position in shares of Marine Products in the 3rd quarter worth $170,000. Teacher Retirement System of Texas acquired a new position in shares of Marine Products in the 4th quarter worth $155,000. Finally, Triumph Capital Management acquired a new position in shares of Marine Products in the 4th quarter worth $155,000. 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.