Marine Products Co. (NYSE:MPX) to Issue $0.14 Quarterly Dividend

Marine Products Co. (NYSE:MPXGet Free Report) declared a quarterly dividend on Thursday, January 25th, Zacks reports. Investors of record on Friday, February 9th will be given a dividend of 0.14 per share on Monday, March 11th. This represents a $0.56 annualized dividend and a yield of 5.35%. The ex-dividend date is Thursday, February 8th.

Marine Products has raised its dividend by an average of 15.9% per year over the last three years.

Marine Products Stock Performance

Marine Products stock opened at $10.47 on Tuesday. Marine Products has a fifty-two week low of $9.18 and a fifty-two week high of $17.81. The stock has a market cap of $360.90 million, a PE ratio of 8.58 and a beta of 1.24. The firm’s 50-day simple moving average is $10.79 and its 200 day simple moving average is $12.62.

Marine Products (NYSE:MPXGet Free Report) last released its quarterly earnings results on Thursday, January 25th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.03). Marine Products had a return on equity of 29.32% and a net margin of 10.87%. The firm had revenue of $70.87 million for the quarter. During the same quarter in the previous year, the business posted $0.35 EPS. As a group, analysts predict that Marine Products will post 0.95 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC purchased a new stake in shares of Marine Products during the 1st quarter valued at approximately $25,000. Barclays PLC lifted its stake in shares of Marine Products by 532.6% during the 4th quarter. Barclays PLC now owns 2,233 shares of the company’s stock valued at $26,000 after buying an additional 1,880 shares in the last quarter. Citigroup Inc. lifted its stake in shares of Marine Products by 125,250.0% during the 2nd quarter. Citigroup Inc. now owns 2,507 shares of the company’s stock valued at $42,000 after buying an additional 2,505 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Marine Products by 107.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,384 shares of the company’s stock valued at $29,000 after buying an additional 1,753 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of Marine Products by 148.5% during the 2nd quarter. Wells Fargo & Company MN now owns 4,023 shares of the company’s stock valued at $68,000 after buying an additional 2,404 shares in the last quarter. 13.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MPX has been the topic of a number of research analyst reports. StockNews.com cut shares of Marine Products from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 31st. TheStreet cut shares of Marine Products from a “b-” rating to a “c” rating in a research note on Thursday, November 16th.

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About Marine Products

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Marine Products Corporation designs, manufactures, and sells recreational fiberglass powerboats for the sportboat, 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.

See Also

Dividend History for Marine Products (NYSE:MPX)

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