Marine Products (NYSE:MPX) Releases Earnings Results, Meets Estimates

Marine Products (NYSE:MPX) released its quarterly earnings data on Thursday. The company reported $0.14 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.14, Zacks reports. Marine Products had a net margin of 9.04% and a return on equity of 17.22%. The firm had revenue of $69.55 million for the quarter. During the same quarter in the prior year, the business posted $0.42 earnings per share.

Marine Products Stock Up 2.0 %

Shares of NYSE MPX traded up $0.21 during midday trading on Friday, reaching $10.66. 34,249 shares of the company’s stock traded hands, compared to its average volume of 59,594. The stock’s 50 day simple moving average is $10.09 and its 200-day simple moving average is $10.62. Marine Products has a one year low of $8.96 and a one year high of $17.81. The company has a market cap of $369.69 million, a price-to-earnings ratio of 10.55 and a beta of 1.24.

Marine Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.25%. Marine Products’s dividend payout ratio is presently 55.45%.

Marine Products Company Profile

Marine Products Corporation designs, manufactures, and sells recreational fiberglass powerboats for the sport boat and sport fishing boat 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 OSX Luxury Sportboats and SSi outboard models; and Robalo outboard sport fishing boats.