Marine Products Corporation (NYSE:MPX) Announces Quarterly Dividend of $0.14

Marine Products Corporation (NYSE:MPX) declared a quarterly dividend on Wednesday, January 28th. Stockholders of record on Tuesday, February 10th will be paid a dividend of 0.14 per share on Tuesday, March 10th. This represents a c) dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date is Tuesday, February 10th.

Marine Products has increased its dividend payment by an average of 0.2%annually over the last three years. Marine Products has a dividend payout ratio of 112.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Price Performance

MPX traded down $0.32 on Wednesday, hitting $9.39. The company had a trading volume of 9,613 shares, compared to its average volume of 20,947. Marine Products has a 1-year low of $7.49 and a 1-year high of $10.08. The company’s fifty day moving average price is $8.93 and its 200 day moving average price is $8.83. The stock has a market cap of $328.48 million, a price-to-earnings ratio of 25.36 and a beta of 1.07.

Marine Products (NYSE:MPX) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). The firm had revenue of $53.15 million during the quarter, compared to analyst estimates of $54.80 million. Marine Products had a return on equity of 10.44% and a net margin of 5.84%. On average, sell-side analysts forecast that Marine Products will post 0.4 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MPX shares. Wall Street Zen raised Marine Products to a “hold” rating in a research report on Saturday, December 27th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Marine Products in a report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Marine Products Company Profile

Marine Products Corporation, headquartered in Sparta, Michigan, designs and manufactures inflatable and rigid-hulled inflatable boats (RIBs) for recreational, commercial and governmental customers. Established in 1954, the company leverages decades of engineering expertise to deliver vessels for applications such as law enforcement, search and rescue, military operations, offshore support and luxury yacht tenders.

The firm’s product lineup includes a variety of RIBs and inflatables constructed from advanced composite hulls and high-performance fabrics.