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

Marine Products Corporation (NYSE:MPX)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.88 and traded as high as $10.00. Marine Products shares last traded at $9.88, with a volume of 33,791 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MPX shares. Weiss Ratings reissued a “sell (d+)” rating on shares of Marine Products in a research report on Monday, December 29th. Wall Street Zen upgraded Marine Products to a “hold” rating in a report on Saturday, December 27th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Marine Products Price Performance

The stock has a market capitalization of $345.80 million, a P/E ratio of 26.70 and a beta of 1.10. The stock’s fifty day moving average is $9.10 and its 200-day moving average is $8.88.

Marine Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend is Tuesday, February 10th. Marine Products’s dividend payout ratio (DPR) is presently 151.35%.

Institutional Investors Weigh In On Marine Products

Large investors have recently added to or reduced their stakes in the stock. Strs Ohio bought a new position in shares of Marine Products in the first quarter valued at approximately $77,000. Rhumbline Advisers grew its stake in Marine Products by 66.6% in the 1st quarter. Rhumbline Advisers now owns 21,525 shares of the company’s stock valued at $181,000 after buying an additional 8,602 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in Marine Products by 7.0% during the 2nd quarter. Los Angeles Capital Management LLC now owns 21,525 shares of the company’s stock worth $183,000 after acquiring an additional 1,400 shares during the last quarter. Geode Capital Management LLC lifted its position in Marine Products by 1.0% during the 2nd quarter. Geode Capital Management LLC now owns 248,087 shares of the company’s stock worth $2,111,000 after acquiring an additional 2,464 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey bought a new stake in Marine Products during the second quarter valued at about $26,000. Institutional investors own 13.86% of the company’s stock.

Marine Products Company Profile

Marine Products Corporation, headquartered in Sparta, Michigan, designs and manufactures inflatable and rigid-hulled inflatable boats (RIBs) for recreational, commercial and governmental customers. Established in 1954, the company leverages decades of engineering expertise to deliver vessels for applications such as law enforcement, search and rescue, military operations, offshore support and luxury yacht tenders.

The firm’s product lineup includes a variety of RIBs and inflatables constructed from advanced composite hulls and high-performance fabrics.