Marine Products (NYSE:MPX) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Marine Products Corporation (NYSE:MPX)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.66 and traded as high as $8.75. Marine Products shares last traded at $8.1020, with a volume of 39,616 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Marine Products in a research note on Monday, December 1st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

Marine Products Price Performance

The company has a fifty day moving average price of $8.57 and a 200 day moving average price of $8.66. The company has a market cap of $283.57 million, a PE ratio of 21.90 and a beta of 1.06.

Marine Products (NYSE:MPX) last announced its earnings results on Thursday, October 30th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.03). Marine Products had a net margin of 5.84% and a return on equity of 10.44%. The company had revenue of $53.15 million for the quarter, compared to the consensus estimate of $54.80 million. As a group, sell-side analysts predict that Marine Products Corporation will post 0.4 EPS for the current fiscal year.

Marine Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Monday, November 10th will be given a $0.14 dividend. The ex-dividend date is Monday, November 10th. This represents a $0.56 annualized dividend and a yield of 6.9%. Marine Products’s payout ratio is 151.35%.

Institutional Investors Weigh In On Marine Products

Hedge funds have recently made changes to their positions in the business. Los Angeles Capital Management LLC grew its position in shares of Marine Products by 7.0% in the 2nd quarter. Los Angeles Capital Management LLC now owns 21,525 shares of the company’s stock worth $183,000 after buying an additional 1,400 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Marine Products by 8.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 25,788 shares of the company’s stock worth $216,000 after acquiring an additional 1,959 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Marine Products by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 738,673 shares of the company’s stock valued at $6,552,000 after acquiring an additional 2,323 shares in the last quarter. Geode Capital Management LLC raised its holdings in Marine Products by 1.0% in the 2nd quarter. Geode Capital Management LLC now owns 248,087 shares of the company’s stock worth $2,111,000 after purchasing an additional 2,464 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Marine Products in the 2nd quarter worth about $26,000. 13.86% of the stock is currently owned by institutional investors.

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.