Ocean Bio-Chem (NASDAQ:OBCI) Stock Price Crosses Below Two Hundred Day Moving Average of $8.35

Ocean Bio-Chem, Inc. (NASDAQ:OBCIGet Rating) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.35 and traded as low as $6.24. Ocean Bio-Chem shares last traded at $6.37, with a volume of 13,697 shares traded.

Separately, StockNews.com assumed coverage on Ocean Bio-Chem in a research report on Tuesday. They issued a “buy” rating for the company.

The company has a debt-to-equity ratio of 0.16, a current ratio of 7.74 and a quick ratio of 4.14. The company’s 50-day simple moving average is $7.39 and its 200-day simple moving average is $8.35. The company has a market cap of $60.53 million, a price-to-earnings ratio of 7.76 and a beta of 0.37.

Ocean Bio-Chem (NASDAQ:OBCIGet Rating) last announced its earnings results on Monday, May 16th. The company reported $0.14 earnings per share for the quarter. The business had revenue of $12.74 million during the quarter. Ocean Bio-Chem had a net margin of 12.20% and a return on equity of 16.72%.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 23rd. Shareholders of record on Wednesday, June 8th will be given a $0.04 dividend. This is a boost from Ocean Bio-Chem’s previous quarterly dividend of $0.03. This represents a $0.16 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Tuesday, June 7th. Ocean Bio-Chem’s dividend payout ratio is presently 19.51%.

A number of hedge funds and other institutional investors have recently modified their holdings of OBCI. AltraVue Capital LLC raised its holdings in Ocean Bio-Chem by 5.0% in the first quarter. AltraVue Capital LLC now owns 127,946 shares of the company’s stock valued at $1,044,000 after acquiring an additional 6,050 shares in the last quarter. Ancora Advisors LLC raised its stake in shares of Ocean Bio-Chem by 101.6% in the 1st quarter. Ancora Advisors LLC now owns 124,600 shares of the company’s stock valued at $1,496,000 after purchasing an additional 62,794 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Ocean Bio-Chem by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 79,472 shares of the company’s stock worth $691,000 after purchasing an additional 1,988 shares during the last quarter. Stifel Financial Corp grew its stake in Ocean Bio-Chem by 14.5% in the fourth quarter. Stifel Financial Corp now owns 25,475 shares of the company’s stock worth $222,000 after purchasing an additional 3,225 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in Ocean Bio-Chem by 637.3% in the third quarter. BlackRock Inc. now owns 10,846 shares of the company’s stock valued at $102,000 after buying an additional 9,375 shares during the last quarter. Hedge funds and other institutional investors own 8.03% of the company’s stock.

About Ocean Bio-Chem (NASDAQ:OBCI)

Ocean Bio-Chem, Inc manufactures, markets, and distributes appearance, performance, and maintenance products for the marine, automotive, power sports, recreational vehicle, home care, and outdoor power equipment markets in the United States and Canada. The company offers marine products, including polishes, cleaners, protectants, waxes, enzyme fuel treatments, private label products, motor and teak oils, boat washes, vinyl and teak cleaners, bilge and hull cleaners, silicone and polyurethane sealants, polysulfide sealants, gasket materials, lubricants, antifouling additives, and anti-freeze coolants; and brushes, brush handles, tie-downs, and other related accessories.

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