Marine Products Corp. (MPX) Given Consensus Rating of “Hold” by Analysts
Shares of Marine Products Corp. (NYSE:MPX) have received a consensus broker rating score of 2.50 (Hold) from the two analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and one has issued a buy rating on the company. Marine Products’ rating score has improved by 16.7% in the last three months as a result of a number of analysts’ upgrades and downgrades.
Analysts have set a twelve-month consensus price target of $14.00 for the company and are expecting that the company will post $0.17 earnings per share for the current quarter, according to Zacks. Zacks has also given Marine Products an industry rank of 43 out of 265 based on the ratings given to related companies.
A number of equities analysts have recently commented on the stock. Ifs Securities raised shares of Marine Products from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Zacks Investment Research lowered shares of Marine Products from a “hold” rating to a “strong sell” rating in a research report on Saturday, January 27th. Finally, ValuEngine raised shares of Marine Products from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th.
Marine Products (NYSE:MPX) last issued its earnings results on Wednesday, January 24th. The company reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. The business had revenue of $65.59 million for the quarter, compared to analyst estimates of $67.68 million. Marine Products had a net margin of 7.22% and a return on equity of 29.88%. analysts predict that Marine Products will post 0.74 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Friday, February 9th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.80%. This is a positive change from Marine Products’s previous quarterly dividend of $0.07. The ex-dividend date was Thursday, February 8th. Marine Products’s dividend payout ratio (DPR) is presently 71.43%.
Hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN increased its holdings in Marine Products by 0.4% during the second quarter. Wells Fargo & Company MN now owns 7,594 shares of the company’s stock valued at $118,000 after buying an additional 27 shares during the period. Goldman Sachs Group Inc. purchased a new position in Marine Products during the second quarter valued at approximately $187,000. Deutsche Bank AG increased its holdings in Marine Products by 27.3% during the fourth quarter. Deutsche Bank AG now owns 27,692 shares of the company’s stock valued at $351,000 after buying an additional 5,941 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in Marine Products by 17.9% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 29,416 shares of the company’s stock valued at $375,000 after buying an additional 4,464 shares during the period. Finally, OxFORD Asset Management LLP purchased a new position in Marine Products during the third quarter valued at approximately $391,000. 14.51% of the stock is currently owned by institutional investors.
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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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