Marine Products Corporation (NYSE:MPX – Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.67 and traded as high as $8.80. Marine Products shares last traded at $8.52, with a volume of 21,113 shares traded.
Marine Products Trading Down 1.7%
The firm has a market capitalization of $297.68 million, a price-to-earnings ratio of 20.27 and a beta of 0.91. The stock has a fifty day moving average of $8.40 and a 200-day moving average of $8.67.
Marine Products (NYSE:MPX – Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). The company had revenue of $59.00 million during the quarter, compared to analyst estimates of $65.90 million. Marine Products had a return on equity of 12.05% and a net margin of 6.84%. As a group, equities research analysts forecast that Marine Products Corporation will post 0.4 earnings per share for the current fiscal year.
Marine Products Announces Dividend
Institutional Trading of Marine Products
A number of institutional investors and hedge funds have recently made changes to their positions in MPX. Rhumbline Advisers lifted its position in shares of Marine Products by 66.6% during the 1st quarter. Rhumbline Advisers now owns 21,525 shares of the company’s stock worth $181,000 after purchasing an additional 8,602 shares during the last quarter. Strs Ohio bought a new position in Marine Products during the first quarter valued at about $77,000. Russell Investments Group Ltd. increased its stake in Marine Products by 21.4% during the first quarter. Russell Investments Group Ltd. now owns 204,792 shares of the company’s stock valued at $1,718,000 after acquiring an additional 36,160 shares during the period. Nuveen LLC bought a new stake in shares of Marine Products in the 1st quarter valued at approximately $233,000. Finally, Summit Financial Strategies Inc. bought a new stake in shares of Marine Products in the 1st quarter valued at approximately $92,000. Institutional investors and hedge funds own 13.86% of the company’s stock.
About Marine Products
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.
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