Marine Products (NYSE:MPX) Upgraded at Wall Street Zen
by Jessica Moore · The Cerbat GemWall Street Zen upgraded shares of Marine Products (NYSE:MPX – Free Report) to a hold rating in a research note published on Saturday.
Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Marine Products in a research report on Monday, December 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Marine Products presently has an average rating of “Sell”.
View Our Latest Research Report on Marine Products
Marine Products Trading Up 1.4%
Marine Products stock opened at $9.00 on Friday. The stock has a 50 day moving average of $8.66 and a two-hundred day moving average of $8.73. Marine Products has a twelve month low of $7.49 and a twelve month high of $10.08. The stock has a market capitalization of $315 million, a price-to-earnings ratio of 24.32 and a beta of 1.06.
Marine Products (NYSE:MPX – Get Free Report) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.03). Marine Products had a return on equity of 10.44% and a net margin of 5.84%.The company had revenue of $53.15 million for the quarter, compared to analysts’ expectations of $54.80 million. Equities analysts predict that Marine Products will post 0.4 earnings per share for the current year.
Marine Products Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 6.2%. The ex-dividend date was Monday, November 10th. Marine Products’s payout ratio is presently 151.35%.
Institutional Trading of Marine Products
Several hedge funds and other institutional investors have recently made changes to their positions in MPX. Teton Advisors LLC purchased a new stake in Marine Products during the third quarter worth about $2,160,000. Russell Investments Group Ltd. lifted its position in shares of Marine Products by 19.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 261,397 shares of the company’s stock valued at $2,319,000 after acquiring an additional 43,304 shares during the period. De Lisle Partners LLP boosted its stake in shares of Marine Products by 13.1% during the 2nd quarter. De Lisle Partners LLP now owns 355,019 shares of the company’s stock worth $3,024,000 after acquiring an additional 41,258 shares in the last quarter. Citadel Advisors LLC acquired a new stake in shares of Marine Products in the 3rd quarter worth approximately $268,000. Finally, Nuveen LLC acquired a new stake in shares of Marine Products in the 1st quarter worth approximately $233,000. Institutional investors and hedge funds own 13.86% of the company’s stock.
About Marine Products
Marine Products Corporation, headquartered in Sparta, Michigan, designs and manufactures inflatable and rigid-hulled inflatable boats (RIBs) for recreational, commercial and governmental customers. Established in 1954, the company leverages decades of engineering expertise to deliver vessels for applications such as law enforcement, search and rescue, military operations, offshore support and luxury yacht tenders.
The firm’s product lineup includes a variety of RIBs and inflatables constructed from advanced composite hulls and high-performance fabrics.