Marine Products (NYSE:MPX) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Marine Products (NYSE:MPX) from a hold rating to a buy rating in a report released on Tuesday morning.

Marine Products Trading Down 1.5 %

Marine Products stock opened at $9.03 on Tuesday. Marine Products has a 12-month low of $8.86 and a 12-month high of $12.47. The firm has a market capitalization of $313.46 million, a price-to-earnings ratio of 17.04 and a beta of 1.22. The firm has a 50 day moving average of $9.60 and a 200 day moving average of $9.64.

Marine Products (NYSE:MPX) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.08 by $0.02. The firm had revenue of $49.85 million for the quarter. Marine Products had a net margin of 7.32% and a return on equity of 13.55%. During the same quarter in the previous year, the business earned $0.30 earnings per share. On average, analysts predict that Marine Products will post 0.4 EPS for the current year.

Marine Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 11th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 6.20%. The ex-dividend date was Friday, November 8th. Marine Products’s dividend payout ratio is currently 105.66%.

Institutional Investors Weigh In On Marine Products

Several institutional investors and hedge funds have recently modified their holdings of MPX. BNP Paribas Financial Markets boosted its position in shares of Marine Products by 661.6% during the third quarter. BNP Paribas Financial Markets now owns 20,526 shares of the company’s stock worth $199,000 after acquiring an additional 17,831 shares during the last quarter. De Lisle Partners LLP boosted its holdings in shares of Marine Products by 44.8% during the 3rd quarter. De Lisle Partners LLP now owns 297,992 shares of the company’s stock valued at $2,901,000 after purchasing an additional 92,181 shares during the last quarter. FMR LLC grew its position in shares of Marine Products by 198.2% during the third quarter. FMR LLC now owns 8,353 shares of the company’s stock valued at $81,000 after purchasing an additional 5,552 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Marine Products by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 650,433 shares of the company’s stock worth $6,569,000 after purchasing an additional 9,680 shares during the last quarter. Finally, Barclays PLC lifted its position in shares of Marine Products by 173.0% in the third quarter. Barclays PLC now owns 12,050 shares of the company’s stock worth $116,000 after buying an additional 7,636 shares in the last quarter. Institutional investors own 13.86% of the company’s stock.

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.