Marine Products (NYSE:MPX) Issues Earnings Results

Marine Products (NYSE:MPX) released its quarterly earnings results on Thursday. The company reported $0.10 EPS for the quarter, FiscalAI reports. Marine Products had a net margin of 5.84% and a return on equity of 10.44%. The business had revenue of $64.57 million during the quarter.

Marine Products Price Performance

NYSE MPX traded down $1.78 during trading hours on Thursday, reaching $8.17. The company’s stock had a trading volume of 144,737 shares, compared to its average volume of 26,635. The firm has a market capitalization of $285.78 million, a price-to-earnings ratio of 22.07 and a beta of 1.10. The company’s 50-day moving average is $9.10 and its two-hundred day moving average is $8.88. Marine Products has a 1-year low of $7.49 and a 1-year high of $10.08.

Marine Products Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 6.9%. The ex-dividend date is Tuesday, February 10th. Marine Products’s payout ratio is currently 151.35%.

Institutional Investors Weigh In On Marine Products

Institutional investors have recently added to or reduced their stakes in the stock. Teton Advisors LLC acquired a new position in Marine Products during the third quarter worth $2,160,000. Deprince Race & Zollo Inc. lifted its stake in Marine Products by 32.8% in the 4th quarter. Deprince Race & Zollo Inc. now owns 416,377 shares of the company’s stock valued at $3,647,000 after buying an additional 102,904 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Marine Products by 19.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 261,397 shares of the company’s stock worth $2,319,000 after buying an additional 43,304 shares during the last quarter. De Lisle Partners LLP increased its stake in Marine Products by 13.1% during the 2nd quarter. De Lisle Partners LLP now owns 355,019 shares of the company’s stock worth $3,024,000 after buying an additional 41,258 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new position in shares of Marine Products during the third quarter valued at approximately $268,000. Institutional investors and hedge funds own 13.86% of the company’s stock.

Analyst Upgrades and Downgrades

MPX has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of Marine Products in a research note on Monday, December 29th. Wall Street Zen upgraded Marine Products to a “hold” rating in a report on Saturday, December 27th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently 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.