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

Marine Products Corporation (NYSE:MPX)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.68 and traded as high as $8.90. Marine Products shares last traded at $8.8150, with a volume of 23,290 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Marine Products in a report on Monday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Marine Products currently has an average rating of “Sell”.

Marine Products Stock Performance

The firm has a market capitalization of $308.53 million, a price-to-earnings ratio of 23.82 and a beta of 1.06. The firm’s 50 day simple moving average is $8.57 and its 200 day simple moving average is $8.68.

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

Marine Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Monday, November 10th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 6.4%. The ex-dividend date was Monday, November 10th. Marine Products’s payout ratio is currently 151.35%.

Institutional Investors Weigh In On Marine Products

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its position in shares of Marine Products by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 738,673 shares of the company’s stock worth $6,552,000 after purchasing an additional 2,323 shares during the last quarter. Vanguard Group Inc. boosted its stake in Marine Products by 1.6% during the third 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 last quarter. De Lisle Partners LLP grew its stake in shares of Marine Products by 13.1% in the 2nd quarter. De Lisle Partners LLP now owns 355,019 shares of the company’s stock valued at $3,024,000 after buying an additional 41,258 shares during the period. Deprince Race & Zollo Inc. raised its position in Marine Products by 9.7% in the third quarter. Deprince Race & Zollo Inc. now owns 313,473 shares of the company’s stock valued at $2,781,000 after purchasing an additional 27,766 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of Marine Products by 19.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 261,397 shares of the company’s stock valued at $2,319,000 after purchasing an additional 43,304 shares during the last quarter. Hedge funds and other institutional investors 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.