Marine Products (NYSE:MPX) Stock Price Crosses Above 200-Day Moving Average – Time to Sell?

Marine Products Corporation (NYSE:MPX) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.61 and traded as high as $8.84. Marine Products shares last traded at $8.57, with a volume of 20,246 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Marine Products in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Marine Products has a consensus rating of “Hold”.

Marine Products Trading Down 2.8%

The stock has a market cap of $299.95 million, a price-to-earnings ratio of 21.43 and a beta of 0.95. The stock’s 50 day moving average is $8.89 and its two-hundred day moving average is $8.61.

Marine Products (NYSE:MPX) last announced its earnings results on Thursday, July 24th. The company reported $0.12 earnings per share for the quarter, hitting the consensus estimate of $0.12. The business had revenue of $67.70 million during the quarter, compared to the consensus estimate of $67.80 million. Marine Products had a net margin of 6.26% and a return on equity of 10.98%. On average, sell-side analysts predict that Marine Products Corporation will post 0.4 EPS for the current year.

Marine Products Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Monday, August 11th were issued a $0.14 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 6.5%. Marine Products’s payout ratio is presently 140.00%.

Hedge Funds Weigh In On Marine Products

Several institutional investors have recently bought and sold shares of the company. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Marine Products in the 2nd quarter worth $26,000. Strs Ohio acquired a new position in Marine Products during the 1st quarter worth approximately $77,000. Corient Private Wealth LLC purchased a new position in shares of Marine Products during the 2nd quarter worth approximately $85,000. Summit Financial Strategies Inc. acquired a new stake in shares of Marine Products in the 1st quarter valued at approximately $92,000. Finally, Burney Co. purchased a new stake in shares of Marine Products in the first quarter valued at approximately $108,000. 13.86% of the stock is owned by institutional investors and hedge funds.

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.