Marine Products Co. (NYSE:MPX – Get Free Report) announced a quarterly dividend on Thursday, October 24th, Zacks reports. Stockholders of record on Monday, November 11th will be paid a dividend of 0.14 per share on Tuesday, December 10th. This represents a $0.56 annualized dividend and a dividend yield of 5.96%. The ex-dividend date of this dividend is Friday, November 8th.
Marine Products has raised its dividend payment by an average of 15.9% per year over the last three years. Marine Products has a payout ratio of 112.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Marine Products to earn $0.50 per share next year, which means the company may not be able to cover its $0.56 annual dividend with an expected future payout ratio of 112.0%.
Marine Products Stock Down 2.0 %
MPX opened at $9.40 on Friday. Marine Products has a 52 week low of $8.86 and a 52 week high of $12.47. The business has a 50 day moving average price of $9.49 and a two-hundred day moving average price of $10.05. The company has a market cap of $326.37 million, a PE ratio of 12.88 and a beta of 1.23.
Wall Street Analysts Forecast Growth
Separately, DA Davidson dropped their price target on shares of Marine Products from $11.00 to $8.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th.
Read Our Latest Stock Report on MPX
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.
Recommended Stories
- Five stocks we like better than Marine Products
- What Do S&P 500 Stocks Tell Investors About the Market?
- PureCycle: Up 250% in 2024 – Is This Materials Stock Still a Buy?
- Stock Sentiment Analysis: How it Works
- MarketBeat Week in Review – 10/21- 10/25
- How to Calculate Retirement Income: MarketBeat’s Calculator
- Texas Roadhouse Stock Steering for New Highs This Year
Receive News & Ratings for Marine Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marine Products and related companies with MarketBeat.com's FREE daily email newsletter.