Marine Products Corporation (MPX) to Issue Quarterly Dividend of $0.14 on March 10th

Marine Products Corporation (NYSE:MPX) announced a quarterly dividend on Wednesday, January 28th. Investors of record on Tuesday, February 10th will be given a dividend of 0.14 per share on Tuesday, March 10th. This represents a c) annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend is Tuesday, February 10th.

Marine Products has increased its dividend payment by an average of 0.2%annually over the last three years. Marine Products has a dividend payout ratio of 112.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Marine Products to earn $0.50 per share next year, which means the company may not be able to cover its $0.56 annual dividend with an expected future payout ratio of 112.0%.

Marine Products Stock Performance

MPX opened at $9.62 on Friday. The stock’s 50 day moving average price is $8.99 and its 200-day moving average price is $8.84. Marine Products has a one year low of $7.49 and a one year high of $10.08. The stock has a market cap of $336.77 million, a price-to-earnings ratio of 26.01 and a beta of 1.07.

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

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wall Street Zen raised shares of Marine Products to a “hold” rating in a research note on Saturday, December 27th. Weiss Ratings restated a “sell (d+)” rating on shares of Marine Products in a report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Marine Products presently has an average rating of “Sell”.

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.