Marine Products (NYSE:MPX) Upgraded at StockNews.com

StockNews.com upgraded shares of Marine Products (NYSE:MPX) from a hold rating to a buy rating in a report issued on Thursday morning.

Marine Products Price Performance

NYSE:MPX opened at $9.65 on Thursday. The business’s 50-day simple moving average is $9.72 and its 200-day simple moving average is $9.75. Marine Products has a fifty-two week low of $8.86 and a fifty-two week high of $12.47. The stock has a market capitalization of $334.98 million, a PE ratio of 18.21 and a beta of 1.22.

Marine Products (NYSE:MPX) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The firm had revenue of $49.85 million for the quarter. Marine Products had a net margin of 7.32% and a return on equity of 13.55%. During the same period in the previous year, the firm posted $0.30 EPS. On average, research analysts expect that Marine Products will post 0.4 earnings per share for the current year.

Marine Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 11th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 5.80%. The ex-dividend date of this dividend was Friday, November 8th. Marine Products’s dividend payout ratio (DPR) is presently 105.66%.

Institutional Trading of Marine Products

A number of institutional investors have recently modified their holdings of the company. Barclays PLC grew its holdings in shares of Marine Products by 173.0% during the third quarter. Barclays PLC now owns 12,050 shares of the company’s stock worth $116,000 after buying an additional 7,636 shares in the last quarter. Geode Capital Management LLC boosted its position in Marine Products by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 240,735 shares of the company’s stock worth $2,333,000 after acquiring an additional 8,527 shares during the last quarter. De Lisle Partners LLP grew its stake in shares of Marine Products by 44.8% during the 3rd quarter. De Lisle Partners LLP now owns 297,992 shares of the company’s stock worth $2,901,000 after acquiring an additional 92,181 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Marine Products by 661.6% in the third quarter. BNP Paribas Financial Markets now owns 20,526 shares of the company’s stock valued at $199,000 after purchasing an additional 17,831 shares during the last quarter. Finally, FMR LLC lifted its position in shares of Marine Products by 198.2% in the third quarter. FMR LLC now owns 8,353 shares of the company’s stock worth $81,000 after purchasing an additional 5,552 shares in the last quarter. 13.86% of the stock is currently owned by institutional investors.

Marine Products Company Profile

Marine Products Corporation designs, manufactures, and sells recreational fiberglass powerboats for the sport boat and sport fishing boat markets worldwide. The company offers Chaparral sterndrive pleasure boats, including SSi Sport Boats, SSX Sport Boats, and the Surf Series; Chaparral outboard pleasure boats, which include OSX Luxury Sportboats and SSi outboard models; and Robalo outboard sport fishing boats.