Shares of Marine Products Corp. (NYSE:MPX) have earned a consensus broker rating score of 2.50 (Hold) from the two analysts that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and one has assigned a buy recommendation to the company.

Brokers have set a one year consensus price objective of $22.75 for the company and are anticipating that the company will post $0.19 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Marine Products an industry rank of 34 out of 257 based on the ratings given to related companies.

Several equities analysts have recently issued reports on the company. B. Riley lifted their price target on Marine Products from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, October 25th. Zacks Investment Research raised Marine Products from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Saturday, July 28th.

Several institutional investors and hedge funds have recently bought and sold shares of MPX. Macquarie Group Ltd. raised its position in shares of Marine Products by 508.3% in the 2nd quarter. Macquarie Group Ltd. now owns 7,300 shares of the company’s stock worth $130,000 after purchasing an additional 6,100 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Marine Products in the 2nd quarter worth about $203,000. O Shaughnessy Asset Management LLC raised its position in Marine Products by 82.8% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 11,572 shares of the company’s stock worth $265,000 after buying an additional 5,243 shares during the last quarter. Wells Fargo & Company MN raised its position in Marine Products by 41.0% in the 3rd quarter. Wells Fargo & Company MN now owns 17,595 shares of the company’s stock worth $403,000 after buying an additional 5,118 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in Marine Products by 42.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 42,020 shares of the company’s stock worth $589,000 after buying an additional 12,604 shares during the last quarter. 14.41% of the stock is owned by hedge funds and other institutional investors.

Shares of MPX traded down $1.13 during trading hours on Friday, hitting $21.04. The company had a trading volume of 41,143 shares, compared to its average volume of 40,958. The firm has a market cap of $741.38 million, a PE ratio of 35.07 and a beta of 0.47. Marine Products has a 52-week low of $12.00 and a 52-week high of $24.82.

Marine Products (NYSE:MPX) last posted its quarterly earnings results on Wednesday, October 24th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.03. The firm had revenue of $72.01 million during the quarter, compared to analyst estimates of $67.66 million. Marine Products had a return on equity of 38.58% and a net margin of 8.97%. As a group, equities analysts anticipate that Marine Products will post 0.88 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 9th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Thursday, November 8th. Marine Products’s dividend payout ratio is presently 66.67%.

Marine Products Company Profile

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

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