Marine Products (NYSE:MPX) Reaches New 1-Year High at $20.00
Marine Products Corp. (NYSE:MPX) reached a new 52-week high during trading on Wednesday . The company traded as high as $20.00 and last traded at $20.00, with a volume of 1654 shares. The stock had previously closed at $19.13.
A number of research firms have recently commented on MPX. Zacks Investment Research cut shares of Marine Products from a “buy” rating to a “hold” rating in a report on Saturday. TheStreet cut shares of Marine Products from a “b-” rating to a “c” rating in a report on Monday, August 31st. Finally, B. Riley upped their price target on shares of Marine Products from $11.50 to $14.50 in a report on Monday, July 13th.
The stock’s 50 day moving average is $15.05 and its two-hundred day moving average is $12.07. The company has a market capitalization of $649.83 million, a PE ratio of 38.26 and a beta of 1.27.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Monday, August 10th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date was Friday, August 7th. Marine Products’s dividend payout ratio (DPR) is presently 38.55%.
A number of large investors have recently added to or reduced their stakes in MPX. Amundi Pioneer Asset Management Inc. purchased a new stake in Marine Products in the first quarter worth about $884,000. WINTON GROUP Ltd purchased a new stake in shares of Marine Products during the first quarter valued at about $90,000. State Street Corp lifted its position in shares of Marine Products by 2.6% during the first quarter. State Street Corp now owns 158,153 shares of the company’s stock valued at $1,278,000 after buying an additional 4,082 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Marine Products by 3.5% during the first quarter. Geode Capital Management LLC now owns 97,396 shares of the company’s stock valued at $786,000 after buying an additional 3,271 shares during the last quarter. Finally, Denali Advisors LLC lifted its position in shares of Marine Products by 24.4% during the second quarter. Denali Advisors LLC now owns 58,670 shares of the company’s stock valued at $813,000 after buying an additional 11,500 shares during the last quarter. 13.69% of the stock is owned by institutional investors.
Marine Products Company Profile (NYSE:MPX)
Marine Products Corporation designs, manufactures, and sells recreational fiberglass powerboats for the sportboat, deckboat, cruiser, jet boat, and sport fishing markets worldwide. The company provides Chaparral sterndrive pleasure boats, including SSi and SSX sportboats, Sunesta sportdecks, Signature cruisers, SunCoast sportdeck outboards, Vortex jet boats and the Surf Series, and Robalo outboard sport fishing boats, as well as H2O Sport, and Fish and Ski boats.
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