Marine Products Corp. (MPX) Given Average Recommendation of “Hold” by Brokerages
Shares of Marine Products Corp. (NYSE:MPX) have been assigned a consensus broker rating score of 3.00 (Hold) from the two brokers that cover the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a hold rating.
Brokers have set a one year consensus price target of $13.00 for the company and are anticipating that the company will post $0.16 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Marine Products an industry rank of 15 out of 265 based on the ratings given to its competitors.
Several equities analysts have issued reports on MPX shares. Zacks Investment Research raised shares of Marine Products from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Tuesday, September 26th. B. Riley reissued a “hold” rating and issued a $13.00 price target (up from $12.00) on shares of Marine Products in a research note on Thursday, October 26th. Finally, Ifs Securities reissued a “market perform” rating on shares of Marine Products in a research note on Thursday, September 7th.
Several large investors have recently bought and sold shares of the company. Wells Fargo & Company MN lifted its stake in shares of Marine Products by 0.4% in the second quarter. Wells Fargo & Company MN now owns 7,594 shares of the company’s stock worth $118,000 after buying an additional 27 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Marine Products by 0.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 41,258 shares of the company’s stock worth $645,000 after purchasing an additional 304 shares during the period. Susquehanna International Group LLP raised its stake in Marine Products by 37.0% during the second quarter. Susquehanna International Group LLP now owns 16,306 shares of the company’s stock worth $255,000 after purchasing an additional 4,406 shares during the period. Bank of New York Mellon Corp raised its stake in Marine Products by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 192,251 shares of the company’s stock worth $3,001,000 after purchasing an additional 5,616 shares during the period. Finally, Seizert Capital Partners LLC raised its stake in Marine Products by 4.5% during the third quarter. Seizert Capital Partners LLC now owns 135,998 shares of the company’s stock worth $2,183,000 after purchasing an additional 5,901 shares during the period. 15.02% of the stock is currently owned by hedge funds and other institutional investors.
Marine Products (NYSE MPX) traded down $0.26 on Friday, reaching $14.77. 23,058 shares of the company’s stock traded hands, compared to its average volume of 35,038. The stock has a market capitalization of $532.43, a P/E ratio of 27.34 and a beta of 0.30. Marine Products has a fifty-two week low of $9.88 and a fifty-two week high of $17.12.
Marine Products (NYSE:MPX) last posted its quarterly earnings data on Wednesday, October 25th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.02). The company had revenue of $59.20 million for the quarter, compared to analysts’ expectations of $67.86 million. Marine Products had a net margin of 7.59% and a return on equity of 28.42%. analysts forecast that Marine Products will post 0.63 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, December 11th. Stockholders of record on Friday, November 10th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.90%. The ex-dividend date was Thursday, November 9th. Marine Products’s dividend payout ratio is currently 50.00%.
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About Marine Products
Marine Products Corporation manufactures fiberglass motorized boats distributed and marketed through its independent dealer network. The Company designs, manufactures and sells recreational fiberglass powerboats in the sportboat, deckboat, cruiser, jet boat and sport fishing markets. The Company’s product offerings include Chaparral sterndrive, outboard and jet pleasure boats, and Robalo outboard sport fishing boats.
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