Marine Products (MPX) is expected to release quarterly results on Wednesday
Marine Products (NYSE:MPX – Get Rating) is expected to report earnings before market open on Wednesday, July 27. Investors interested in participating in the company’s conference call can do so using this link.
Marine Products (NYSE:MPX – Get Rating) last reported quarterly results on Wednesday, April 27. The company reported earnings per share of $0.21 for the quarter. The company had revenue of $76.61 million in the quarter. Marine Products had a return on equity of 29.07% and a net margin of 9.45%.
Seafood trade up 2.1%
MPX shares opened at $9.88 on Wednesday. The stock has a 50-day moving average of $9.89 and a 200-day moving average of $11.35. The stock has a market capitalization of $337.30 million, a P/E ratio of 11.90 and a beta of 1.08. Marine Products has a 12-month low of $8.32 and a 12-month high of $17.87.
Announcement of the marine products dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 10. Shareholders of record on Tuesday, May 10 received a dividend of $0.12. This represents a dividend of $0.48 on an annualized basis and a dividend yield of 4.86%. The ex-dividend date was Monday, May 9. Marine Products’ dividend payout ratio (DPR) is currently 57.83%.
Analyst upgrades and downgrades
Separately, StockNews.com began covering marine products in a research note on Tuesday, June 14. They issued a “hold” rating on the stock.
Hedge funds weigh on marine products
A number of institutional investors and hedge funds have recently increased or reduced their stakes in the stock. Polar Asset Management Partners Inc. increased its stake in Marine Products shares by 2.7% in Q1. Polar Asset Management Partners Inc. now owns 783,105 shares of the company valued at $9,045,000 after purchasing an additional 20,813 shares in the last quarter. BlackRock Inc. increased its stake in Marine Products shares by 0.3% in Q1. BlackRock Inc. now owns 626,784 shares of the company valued at $7,239,000 after purchasing an additional 2,132 shares during the period. Bank of New York Mellon Corp increased its stake in Marine Products shares by 3.6% in the first quarter. Bank of New York Mellon Corp now owns 236,232 shares of the company valued at $2,729,000 after purchasing an additional 8,257 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Marine Products shares by 29.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 22,752 shares of the company valued at $263,000 after purchasing an additional 5,165 shares during the period. Finally, Connors Investor Services Inc. increased its stake in Marine Products shares by 5.5% in the 1st quarter. Connors Investor Services Inc. now owns 19,100 shares of the company valued at $221,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds hold 13.83% of the company’s shares.
Marine Products Company Profile
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Marine Products Corporation designs, manufactures and sells fiberglass recreational powerboats for the sportboat, sportfishing and jetboat 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 the OSX luxury sport boats and the SSi and SSX outboard models; and the Robalo outboard sport fishing boats.
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