Marine Products (NYSE:MPX) Announces Quarterly Earnings Results, Hits Estimates

Marine Products (NYSE:MPX) posted its earnings results on Thursday. The company reported $0.14 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.14, Zacks reports. The firm had revenue of $69.55 million for the quarter. Marine Products had a return on equity of 17.22% and a net margin of 9.04%. During the same quarter in the prior year, the company earned $0.42 EPS.

Marine Products Price Performance

Shares of NYSE:MPX traded up $0.21 during trading on Friday, hitting $10.66. 34,249 shares of the company were exchanged, compared to its average volume of 59,594. The company has a market cap of $369.69 million, a PE ratio of 10.53 and a beta of 1.24. The stock has a 50 day moving average of $10.09 and a 200 day moving average of $10.62. Marine Products has a 52-week low of $8.96 and a 52-week high of $17.81.

Marine Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be given a dividend of $0.14 per share. The ex-dividend date is Friday, August 9th. This represents a $0.56 annualized dividend and a dividend yield of 5.25%. Marine Products’s dividend payout ratio is currently 55.45%.

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.