Marine Products (NYSE:MPX) Announces Quarterly Earnings Results

Marine Products (NYSE:MPX) posted its quarterly earnings data on Thursday. The company reported $0.05 earnings per share for the quarter, Zacks reports. The business had revenue of $66.53 million during the quarter. Marine Products had a net margin of 2.82% and a return on equity of 9.54%. During the same period in the previous year, the company earned $0.06 EPS.

Marine Products Price Performance

NYSE MPX traded up $0.32 on Friday, hitting $8.78. 40,534 shares of the company were exchanged, compared to its average volume of 30,675. The company’s 50 day moving average price is $7.51 and its 200-day moving average price is $8.33. The firm has a market capitalization of $309.47 million, a P/E ratio of 43.91 and a beta of 1.11. Marine Products has a twelve month low of $6.83 and a twelve month high of $10.08.

Marine Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Friday, May 8th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 6.4%. The ex-dividend date is Friday, May 8th. Marine Products’s payout ratio is presently 280.00%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Marine Products in a report on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

Institutional Trading of Marine Products

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its holdings in Marine Products by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 746,412 shares of the company’s stock worth $6,539,000 after buying an additional 7,739 shares during the period. Vanguard Group Inc. raised its holdings in Marine Products by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 576,299 shares of the company’s stock worth $5,112,000 after buying an additional 9,219 shares during the period. Russell Investments Group Ltd. raised its holdings in Marine Products by 18.3% during the 4th quarter. Russell Investments Group Ltd. now owns 309,305 shares of the company’s stock worth $2,710,000 after buying an additional 47,908 shares during the period. Geode Capital Management LLC increased its holdings in shares of Marine Products by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 249,784 shares of the company’s stock valued at $2,188,000 after purchasing an additional 2,071 shares during the period. Finally, State Street Corp increased its holdings in shares of Marine Products by 1.6% in the 4th quarter. State Street Corp now owns 183,271 shares of the company’s stock valued at $1,605,000 after purchasing an additional 2,871 shares during the period. Institutional investors and hedge funds own 13.86% of the company’s stock.

About Marine Products

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.