Marine Products Corporation (NYSE:MPX) has received a consensus broker rating score of 3.00 (Hold) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold rating.
Brokerages have set a 12-month consensus price target of $13.00 for the company and are predicting that the company will post $0.17 earnings per share for the current quarter, according to Zacks. Zacks has also given Marine Products Corporation an industry rank of 34 out of 265 based on the ratings given to related companies.
MPX has been the subject of several research analyst reports. BidaskClub downgraded Marine Products Corporation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Ifs Securities reissued a “market perform” rating on shares of Marine Products Corporation in a research note on Thursday, September 7th. ValuEngine raised Marine Products Corporation from a “hold” rating to a “buy” rating in a research note on Friday, July 28th. Zacks Investment Research downgraded Marine Products Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Finally, B. Riley reaffirmed a “hold” rating and set a $13.00 price target (up from $12.00) on shares of Marine Products Corporation in a research note on Thursday, October 26th.
In other news, Director Pam R. Rollins purchased 3,930 shares of the business’s stock in a transaction dated Friday, August 25th. The stock was bought at an average cost of $15.14 per share, with a total value of $59,500.20. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $151,400. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Pam R. Rollins purchased 6,070 shares of the business’s stock in a transaction dated Thursday, August 24th. The shares were purchased at an average cost of $14.90 per share, with a total value of $90,443.00. Following the completion of the purchase, the director now directly owns 1,104 shares in the company, valued at $16,449.60. The disclosure for this purchase can be found here. 77.90% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of MPX. Wells Fargo & Company MN raised its stake in shares of Marine Products Corporation by 0.4% during the 2nd quarter. Wells Fargo & Company MN now owns 7,594 shares of the company’s stock worth $118,000 after purchasing an additional 27 shares in the last quarter. Goldman Sachs Group Inc. acquired a new position in shares of Marine Products Corporation during the 2nd quarter valued at about $187,000. Hillsdale Investment Management Inc. acquired a new position in shares of Marine Products Corporation during the 2nd quarter valued at about $237,000. Susquehanna International Group LLP increased its holdings in shares of Marine Products Corporation by 37.0% during the 2nd quarter. Susquehanna International Group LLP now owns 16,306 shares of the company’s stock valued at $255,000 after acquiring an additional 4,406 shares during the last quarter. Finally, Chicago Equity Partners LLC acquired a new position in shares of Marine Products Corporation during the 2nd quarter valued at about $340,000. 15.32% of the stock is owned by institutional investors.
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Shares of Marine Products Corporation (NYSE MPX) traded down $0.02 during trading on Wednesday, reaching $14.03. The company had a trading volume of 17,200 shares, compared to its average volume of 35,980. The stock has a market cap of $488.61, a P/E ratio of 25.09 and a beta of 0.27. Marine Products Corporation has a 1 year low of $9.44 and a 1 year high of $17.12.
Marine Products Corporation (NYSE:MPX) last announced its quarterly earnings data on Wednesday, October 25th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.02). The business had revenue of $59.20 million during the quarter, compared to analysts’ expectations of $67.86 million. Marine Products Corporation had a return on equity of 28.42% and a net margin of 7.59%. sell-side analysts predict that Marine Products Corporation will post 0.64 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 10th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Thursday, November 9th. Marine Products Corporation’s dividend payout ratio (DPR) is presently 50.00%.
About Marine Products Corporation
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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