Marine Products (NYSE:MPX) Share Price Passes Above 200 Day Moving Average of $11.30

Marine Products Co. (NYSE:MPXGet Free Report)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.30 and traded as high as $11.46. Marine Products shares last traded at $11.43, with a volume of 44,911 shares trading hands.

Marine Products Price Performance

The stock’s 50-day moving average is $10.69 and its 200 day moving average is $11.30. The company has a market cap of $396.39 million, a PE ratio of 9.37 and a beta of 1.26.

Marine Products (NYSE:MPXGet Free Report) last posted its quarterly earnings results on Thursday, January 25th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). The company had revenue of $70.87 million during the quarter. Marine Products had a return on equity of 28.84% and a net margin of 10.87%. During the same period in the prior year, the company posted $0.35 earnings per share. On average, analysts expect that Marine Products Co. will post 0.95 EPS for the current year.

Marine Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 9th were paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.90%. Marine Products’s payout ratio is currently 45.90%.

Institutional Trading of Marine Products

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MPX. Truist Financial Corp acquired a new stake in Marine Products during the fourth quarter valued at $636,000. BlackRock Inc. lifted its holdings in Marine Products by 6.7% during the second quarter. BlackRock Inc. now owns 658,785 shares of the company’s stock valued at $11,107,000 after purchasing an additional 41,100 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Marine Products during the fourth quarter valued at $463,000. Vanguard Group Inc. lifted its holdings in Marine Products by 6.8% during the fourth quarter. Vanguard Group Inc. now owns 493,212 shares of the company’s stock valued at $5,623,000 after purchasing an additional 31,227 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in Marine Products by 110.7% during the fourth quarter. Los Angeles Capital Management LLC now owns 56,917 shares of the company’s stock valued at $649,000 after purchasing an additional 29,905 shares in the last quarter. Institutional investors and hedge funds own 13.86% of the company’s stock.

About Marine Products

(Get Free Report)

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.

Further Reading

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