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

Marine Products Co. (NYSE:MPX) announced a quarterly dividend on Friday, January 31st,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 dividend on an annualized basis and a dividend yield of 5.98%. The ex-dividend date is Monday, February 10th.

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

Marine Products Trading Down 1.3 %

Shares of MPX stock traded down $0.12 during midday trading on Friday, reaching $9.37. 37,478 shares of the stock were exchanged, compared to its average volume of 31,259. The company’s 50 day moving average is $9.35 and its two-hundred day moving average is $9.55. Marine Products has a 1 year low of $8.67 and a 1 year high of $12.47. The firm has a market cap of $325.23 million, a PE ratio of 17.68 and a beta of 1.23.

Marine Products (NYSE:MPX) last issued 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 return on equity of 13.55% and a net margin of 7.32%. As a group, equities analysts expect that Marine Products will post 0.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Marine Products from a “hold” rating to a “buy” rating in a report on Friday.

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.