Marine Products (NYSE:MPX) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Marine Products Co. (NYSE:MPX)’s stock price 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 traded.

Analyst Ratings Changes

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

Marine Products Stock Up 2.3 %

The company has a market capitalization of $335.65 million, a P/E ratio of 19.73 and a beta of 1.23. The company has a 50-day moving average of $9.28 and a two-hundred day moving average of $9.52.

Marine Products (NYSE:MPX) last released its earnings results on Thursday, January 30th. The company reported $0.12 earnings per share for the quarter, topping 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, equities analysts expect that Marine Products Co. will post 0.5 EPS for the current fiscal year.

Marine Products Announces Dividend

The firm also recently announced 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. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.79%. The ex-dividend date of this dividend is Monday, February 10th. Marine Products’s dividend payout ratio is 114.29%.

Institutional Trading of Marine Products

A number of hedge funds have recently made changes to their positions in MPX. De Lisle Partners LLP raised its stake in Marine Products by 44.8% during the third quarter. De Lisle Partners LLP now owns 297,992 shares of the company’s stock valued at $2,901,000 after buying an additional 92,181 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of 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 acquiring an additional 8,527 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Marine Products by 661.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 20,526 shares of the company’s stock worth $199,000 after purchasing an additional 17,831 shares during the last quarter. Rhumbline Advisers boosted its stake in Marine Products by 10.6% in the 4th quarter. Rhumbline Advisers now owns 12,923 shares of the company’s stock worth $118,000 after purchasing an additional 1,236 shares in the last quarter. Finally, Barclays PLC grew its position in Marine Products by 173.0% during the 3rd quarter. Barclays PLC now owns 12,050 shares of the company’s stock valued at $116,000 after purchasing an additional 7,636 shares during the last quarter. 13.86% of the stock is owned by institutional investors.

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.