Marine Products (NYSE:MPX) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Shares of Marine Products Co. (NYSE:MPX) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $9.52 and traded as high as $9.80. Marine Products shares last traded at $9.67, with a volume of 77,338 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Marine Products from a “hold” rating to a “buy” rating in a research note on Friday, January 31st.

Marine Products Stock Performance

The stock has a 50-day simple moving average of $9.28 and a two-hundred day simple moving average of $9.52. The firm has a market cap of $335.65 million, a PE ratio of 19.73 and a beta of 1.23.

Marine Products (NYSE:MPX) last issued its quarterly earnings data on Thursday, January 30th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. Marine Products had a net margin of 7.55% and a return on equity of 13.08%. As a group, sell-side analysts anticipate that Marine Products Co. will post 0.5 EPS for the current fiscal year.

Marine Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be paid a dividend of $0.14 per share. The ex-dividend date is Monday, February 10th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.79%. Marine Products’s dividend payout ratio is currently 114.29%.

Hedge Funds Weigh In On Marine Products

Several institutional investors have recently made changes to their positions in the business. De Lisle Partners LLP grew its position in shares of Marine Products by 44.8% during the 3rd quarter. De Lisle Partners LLP now owns 297,992 shares of the company’s stock valued at $2,901,000 after acquiring an additional 92,181 shares during the period. BNP Paribas Financial Markets lifted its position in Marine Products by 661.6% during the third quarter. BNP Paribas Financial Markets now owns 20,526 shares of the company’s stock valued at $199,000 after purchasing an additional 17,831 shares in the last quarter. Geode Capital Management LLC grew its holdings in Marine Products by 3.7% during the third quarter. Geode Capital Management LLC now owns 240,735 shares of the company’s stock valued at $2,333,000 after purchasing an additional 8,527 shares during the period. Barclays PLC increased its position in Marine Products by 173.0% in the third quarter. Barclays PLC now owns 12,050 shares of the company’s stock worth $116,000 after buying an additional 7,636 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Marine Products by 198.2% in the third quarter. FMR LLC now owns 8,353 shares of the company’s stock worth $81,000 after buying an additional 5,552 shares during the period. 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.