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

Marine Products Corporation (NYSE:MPX) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.82 and traded as high as $9.49. Marine Products shares last traded at $9.13, with a volume of 18,729 shares trading hands.

Analysts Set New Price Targets

MPX has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Marine Products to a “hold” rating in a report on Saturday, December 27th. Weiss Ratings reissued a “sell (d+)” rating on shares of Marine Products in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Marine Products has an average rating of “Sell”.

Marine Products Trading Down 3.4%

The stock has a market capitalization of $319.55 million, a P/E ratio of 24.68 and a beta of 1.07. The stock’s fifty day moving average price is $8.82 and its two-hundred day moving average price is $8.82.

Marine Products (NYSE:MPX) last released its earnings results on Thursday, October 30th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.03). The business had revenue of $53.15 million for the quarter, compared to the consensus estimate of $54.80 million. Marine Products had a net margin of 5.84% and a return on equity of 10.44%. As a group, analysts expect that Marine Products Corporation will post 0.4 earnings per share for the current fiscal year.

Marine Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date of this dividend was Monday, November 10th. Marine Products’s payout ratio is 151.35%.

Hedge Funds Weigh In On Marine Products

Large investors have recently bought and sold shares of the stock. Teton Advisors LLC bought a new position in Marine Products during the 3rd quarter valued at approximately $2,160,000. Russell Investments Group Ltd. grew its position in shares of Marine Products by 19.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 261,397 shares of the company’s stock worth $2,319,000 after buying an additional 43,304 shares during the last quarter. De Lisle Partners LLP increased its stake in shares of Marine Products by 13.1% during the second quarter. De Lisle Partners LLP now owns 355,019 shares of the company’s stock valued at $3,024,000 after buying an additional 41,258 shares during the period. Citadel Advisors LLC bought a new position in shares of Marine Products during the third quarter valued at approximately $268,000. Finally, Deprince Race & Zollo Inc. lifted its stake in Marine Products by 9.7% in the third quarter. Deprince Race & Zollo Inc. now owns 313,473 shares of the company’s stock worth $2,781,000 after acquiring an additional 27,766 shares during the period. 13.86% of the stock is owned by hedge funds and other institutional investors.

Marine Products Company Profile

Marine Products Corporation, headquartered in Sparta, Michigan, designs and manufactures inflatable and rigid-hulled inflatable boats (RIBs) for recreational, commercial and governmental customers. Established in 1954, the company leverages decades of engineering expertise to deliver vessels for applications such as law enforcement, search and rescue, military operations, offshore support and luxury yacht tenders.

The firm’s product lineup includes a variety of RIBs and inflatables constructed from advanced composite hulls and high-performance fabrics.