Equities analysts expect Marine Products Corp. (NYSE:MPX) to report sales of $81.16 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Marine Products’ earnings, with estimates ranging from $77.92 million to $84.40 million. Marine Products posted sales of $87.01 million during the same quarter last year, which suggests a negative year over year growth rate of 6.7%. The business is scheduled to report its next quarterly earnings results on Wednesday, July 24th.

On average, analysts expect that Marine Products will report full year sales of $305.33 million for the current year, with estimates ranging from $304.63 million to $306.02 million. For the next year, analysts expect that the company will post sales of $328.67 million, with estimates ranging from $319.86 million to $337.47 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Marine Products.

Marine Products (NYSE:MPX) last released its quarterly earnings data on Wednesday, April 24th. The company reported $0.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.05. Marine Products had a net margin of 9.32% and a return on equity of 36.92%. The business had revenue of $83.05 million for the quarter, compared to analysts’ expectations of $73.18 million.

Several equities research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Marine Products from a “buy” rating to a “hold” rating in a research note on Tuesday, January 15th. ValuEngine cut Marine Products from a “hold” rating to a “sell” rating in a report on Tuesday, March 19th. B. Riley set a $15.00 price objective on Marine Products and gave the stock a “hold” rating in a report on Wednesday, April 17th. Finally, Ifs Securities reissued an “outperform” rating on shares of Marine Products in a report on Thursday, April 25th.

Shares of MPX stock traded down $0.39 during trading hours on Friday, reaching $14.58. The stock had a trading volume of 1,168 shares, compared to its average volume of 21,006. Marine Products has a twelve month low of $12.48 and a twelve month high of $24.82. The stock has a market cap of $500.62 million, a PE ratio of 17.55 and a beta of 0.41.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be issued a dividend of $0.12 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.48 annualized dividend and a yield of 3.29%. Marine Products’s dividend payout ratio is currently 57.83%.

A number of large investors have recently made changes to their positions in the business. Strs Ohio lifted its stake in Marine Products by 213.0% in the 4th quarter. Strs Ohio now owns 7,200 shares of the company’s stock valued at $121,000 after acquiring an additional 4,900 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Marine Products by 2.6% in the 3rd quarter. Renaissance Technologies LLC now owns 241,000 shares of the company’s stock valued at $5,516,000 after acquiring an additional 6,067 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Marine Products by 1.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 636,624 shares of the company’s stock valued at $14,572,000 after acquiring an additional 9,152 shares during the last quarter. Navellier & Associates Inc raised its holdings in Marine Products by 11.8% in the 4th quarter. Navellier & Associates Inc now owns 14,647 shares of the company’s stock valued at $248,000 after acquiring an additional 1,547 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Marine Products by 41.0% in the 3rd quarter. Wells Fargo & Company MN now owns 17,595 shares of the company’s stock valued at $403,000 after acquiring an additional 5,118 shares during the last quarter. 14.61% of the stock is owned by hedge funds and other institutional investors.

About Marine Products

Marine Products Corporation designs, manufactures, and sells recreational fiberglass powerboats for the sportboat, deckboat, cruiser, jet boat, and sport fishing markets worldwide. The company provides Chaparral sterndrive pleasure boats, including SSi and SSX sportboats, Sunesta sportdecks, Signature cruisers, SunCoast sportdeck outboards, Vortex jet boats and the Surf Series, and Robalo outboard sport fishing boats, as well as H2O Sport, and Fish and Ski boats.

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Earnings History and Estimates for Marine Products (NYSE:MPX)

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