Marine Products Co. (NYSE:MPX - Get Free Report)'s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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.
Analysts Set New Price Targets
Separately, StockNews.com raised shares of Marine Products from a "hold" rating to a "buy" rating in a report on Friday, January 31st.
Read Our Latest Stock Report on Marine Products
Marine Products Price Performance
The business has a 50-day moving average of $9.23 and a 200-day moving average of $9.48. The company has a market capitalization of $309.09 million, a P/E ratio of 18.17 and a beta of 1.23.
Marine Products (NYSE:MPX - Get Free Report) 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 return on equity of 13.08% and a net margin of 7.55%. Sell-side analysts predict that Marine Products Co. will post 0.5 EPS for the current fiscal year.
Marine Products Announces Dividend
The business 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 $0.14 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $0.56 annualized dividend and a yield of 6.29%. Marine Products's dividend payout ratio (DPR) is presently 114.29%.
Institutional Investors Weigh In On Marine Products
Several institutional investors have recently added to or reduced their stakes in MPX. FMR LLC lifted its holdings in Marine Products by 198.2% in the third quarter. FMR LLC now owns 8,353 shares of the company's stock valued at $81,000 after acquiring an additional 5,552 shares during the period. Barclays PLC increased its position in shares of Marine Products by 173.0% during the third quarter. Barclays PLC now owns 12,050 shares of the company's stock worth $116,000 after purchasing an additional 7,636 shares in the last quarter. Rhumbline Advisers increased its position in shares of Marine Products by 10.6% during the fourth 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. BNP Paribas Financial Markets increased its position in shares of Marine Products by 661.6% during the third 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 in the last quarter. Finally, Geode Capital Management LLC increased its position 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 worth $2,333,000 after purchasing an additional 8,527 shares in the last quarter. Institutional investors and hedge funds own 13.86% of the company's stock.
Marine Products Company Profile
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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.
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