Marine Products (NYSE:MPX) Stock Rating Lowered by StockNews.com

Marine Products (NYSE:MPX) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Marine Products Stock Performance

MPX stock opened at $9.02 on Wednesday. The firm has a 50 day simple moving average of $9.57 and a 200 day simple moving average of $9.61. Marine Products has a 52 week low of $8.86 and a 52 week high of $12.47. The stock has a market cap of $313.11 million, a P/E ratio of 17.02 and a beta of 1.23.

Marine Products (NYSE:MPX) last issued its earnings results on Thursday, October 24th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. Marine Products had a net margin of 7.32% and a return on equity of 13.55%. The company had revenue of $49.85 million during the quarter. During the same period last year, the business earned $0.30 EPS. Sell-side analysts predict that Marine Products will post 0.4 EPS for the current year.

Institutional Inflows and Outflows

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

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.