Marine Products Corporation (NYSE:MPX) Director Pam R. Rollins bought 6,070 shares of the firm’s stock in a transaction on Thursday, August 24th. The stock was purchased at an average price of $14.90 per share, for a total transaction of $90,443.00. Following the completion of the acquisition, the director now directly owns 1,104 shares in the company, valued at $16,449.60. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.
Shares of Marine Products Corporation (NYSE:MPX) traded up 3.64% during trading on Friday, hitting $15.38. 28,842 shares of the stock traded hands. The company’s 50 day moving average is $14.95 and its 200 day moving average is $12.89. The firm has a market cap of $536.49 million, a PE ratio of 28.75 and a beta of 0.34. Marine Products Corporation has a 52-week low of $8.76 and a 52-week high of $16.25.
Marine Products Corporation (NYSE:MPX) last issued its earnings results on Wednesday, July 26th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.03. The company had revenue of $71.48 million for the quarter, compared to the consensus estimate of $73.33 million. Marine Products Corporation had a return on equity of 25.69% and a net margin of 7.60%. On average, equities research analysts predict that Marine Products Corporation will post $0.65 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Thursday, August 10th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.82%. Marine Products Corporation’s dividend payout ratio is 51.85%.
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Institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN increased its position in Marine Products Corporation 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. increased its position in Marine Products Corporation by 0.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 41,258 shares of the company’s stock worth $645,000 after buying an additional 304 shares in the last quarter. Susquehanna International Group LLP increased its position in Marine Products Corporation by 37.0% in the second quarter. Susquehanna International Group LLP now owns 16,306 shares of the company’s stock worth $255,000 after buying an additional 4,406 shares in the last quarter. Bank of New York Mellon Corp increased its position in Marine Products Corporation by 2.4% in the first quarter. Bank of New York Mellon Corp now owns 186,635 shares of the company’s stock worth $2,028,000 after buying an additional 4,415 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Marine Products Corporation by 1.6% in the second quarter. Vanguard Group Inc. now owns 393,381 shares of the company’s stock worth $6,141,000 after buying an additional 6,385 shares in the last quarter. Institutional investors own 15.26% of the company’s stock.
Several equities analysts have recently commented on the stock. ValuEngine upgraded shares of Marine Products Corporation from a “hold” rating to a “buy” rating in a report on Friday, July 28th. Zacks Investment Research upgraded shares of Marine Products Corporation from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Tuesday, May 2nd. BidaskClub lowered shares of Marine Products Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Finally, B. Riley restated a “neutral” rating and issued a $12.00 price objective on shares of Marine Products Corporation in a report on Monday, August 7th.
Marine Products Corporation Company Profile
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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