Marine Products Co. (NYSE:MPX - Get Free Report) announced a quarterly dividend on Thursday, October 24th, Zacks reports. Stockholders of record on Monday, November 11th will be paid a dividend of 0.14 per share on Tuesday, December 10th. This represents a $0.56 annualized dividend and a dividend yield of 5.96%. The ex-dividend date of this dividend is Friday, November 8th.
Marine Products has increased its dividend by an average of 15.9% annually over the last three years. Marine Products has a dividend payout ratio of 112.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Marine Products to earn $0.50 per share next year, which means the company may not be able to cover its $0.56 annual dividend with an expected future payout ratio of 112.0%.
Marine Products Stock Performance
Shares of NYSE:MPX traded down $0.19 during mid-day trading on Friday, hitting $9.40. 23,562 shares of the company traded hands, compared to its average volume of 50,187. The firm's 50 day simple moving average is $9.49 and its 200 day simple moving average is $10.06. The firm has a market cap of $326.37 million, a P/E ratio of 13.18 and a beta of 1.23. Marine Products has a 52-week low of $8.86 and a 52-week high of $12.47.
Marine Products (NYSE:MPX - Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.14 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.14. The company had revenue of $69.55 million for the quarter. Marine Products had a net margin of 9.04% and a return on equity of 17.86%. During the same quarter in the prior year, the business earned $0.42 EPS. Equities research analysts expect that Marine Products will post 0.4 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Separately, DA Davidson lowered their target price on Marine Products from $11.00 to $8.00 and set a "neutral" rating for the company in a research note on Monday, August 12th.
Check Out Our Latest Stock Report on MPX
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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