Marine Products Co. Declares Quarterly Dividend of $0.14 (NYSE:MPX)

Marine Products Co. (NYSE:MPX) declared a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Stockholders of record on Monday, February 10th will be given a dividend of 0.14 per share on Monday, March 10th. This represents a $0.56 annualized dividend and a dividend yield of 5.79%. The ex-dividend date of this dividend is Monday, February 10th.

Marine Products has raised its dividend payment by an average of 6.8% per year over the last three years.

Marine Products Stock Up 2.3 %

Shares of MPX opened at $9.67 on Friday. The business has a fifty day moving average of $9.28 and a 200 day moving average of $9.52. The company has a market cap of $335.65 million, a PE ratio of 19.73 and a beta of 1.23. Marine Products has a 52-week low of $8.64 and a 52-week high of $12.47.

Marine Products (NYSE:MPX) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.07. Marine Products had a net margin of 7.55% and a return on equity of 13.08%. As a group, research analysts anticipate that Marine Products will post 0.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Marine Products from a “hold” rating to a “buy” rating in a report on Friday, January 31st.

About Marine Products

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.