Marine Products Corp. (NYSE:MPX) Receives Consensus Rating of “Hold” from Analysts

Shares of Marine Products Corp. (NYSE:MPX) have been given a consensus broker rating score of 2.50 (Hold) from the two analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and one has issued a buy rating on the company. Marine Products’ rating score has improved by 16.7% from three months ago as a result of various analysts’ ratings changes.

Analysts have set a one year consensus price objective of $18.25 for the company and are expecting that the company will post $0.21 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Marine Products an industry rank of 53 out of 256 based on the ratings given to related companies.

Several equities research analysts have recently issued reports on the company. ValuEngine lowered Marine Products from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th. B. Riley set a $15.00 price objective on Marine Products and gave the company a “hold” rating in a research note on Wednesday, April 17th. Ifs Securities reaffirmed an “outperform” rating on shares of Marine Products in a research note on Thursday, April 25th. Finally, Zacks Investment Research raised Marine Products from a “hold” rating to a “strong-buy” rating and set a $17.00 price objective for the company in a research note on Saturday, April 27th.

Several large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in shares of Marine Products by 3.0% during the 4th quarter. Bank of New York Mellon Corp now owns 174,962 shares of the company’s stock worth $2,959,000 after acquiring an additional 5,111 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in shares of Marine Products by 76.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 20,455 shares of the company’s stock worth $346,000 after acquiring an additional 8,883 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Marine Products by 15.4% during the 4th quarter. Geode Capital Management LLC now owns 69,104 shares of the company’s stock worth $1,168,000 after acquiring an additional 9,237 shares during the last quarter. Wedge Capital Management L L P NC lifted its stake in shares of Marine Products by 49.7% during the 1st quarter. Wedge Capital Management L L P NC now owns 31,689 shares of the company’s stock worth $427,000 after acquiring an additional 10,523 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in shares of Marine Products by 58.6% during the 4th quarter. Acadian Asset Management LLC now owns 30,636 shares of the company’s stock worth $517,000 after acquiring an additional 11,325 shares during the last quarter. 14.65% of the stock is owned by institutional investors and hedge funds.

Shares of Marine Products stock opened at $16.46 on Wednesday. The company’s 50 day moving average price is $15.07. Marine Products has a 12 month low of $12.48 and a 12 month high of $24.82. The company has a market capitalization of $604.36 million, a price-to-earnings ratio of 19.83 and a beta of 0.47.

Marine Products (NYSE:MPX) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.05. Marine Products had a return on equity of 36.92% and a net margin of 9.32%. The company had revenue of $83.05 million during the quarter, compared to analyst estimates of $73.18 million. On average, research analysts anticipate that Marine Products will post 0.81 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend was Thursday, May 9th. Marine Products’s payout ratio is 57.83%.

About Marine Products

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

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