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 published on Friday.

Marine Products Stock Performance

NYSE:MPX opened at $9.37 on Friday. Marine Products has a 52 week low of $8.67 and a 52 week high of $12.47. The firm has a 50-day moving average price of $9.34 and a two-hundred day moving average price of $9.55. The firm has a market cap of $325.23 million, a price-to-earnings ratio of 17.68 and a beta of 1.23.

Marine Products (NYSE:MPX) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. Marine Products had a return on equity of 13.55% and a net margin of 7.32%. As a group, sell-side analysts forecast that Marine Products will post 0.4 earnings per share for the current year.

Marine Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.98%. The ex-dividend date of this dividend is Monday, February 10th. Marine Products’s dividend payout ratio (DPR) is currently 105.66%.

Institutional Trading of Marine Products

Large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its position in shares of Marine Products by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 650,433 shares of the company’s stock valued at $6,569,000 after acquiring an additional 9,680 shares during the period. FMR LLC lifted its stake in Marine Products by 198.2% in the third quarter. FMR LLC now owns 8,353 shares of the company’s stock valued at $81,000 after purchasing an additional 5,552 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Marine Products by 661.6% during 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 period. De Lisle Partners LLP increased its position in 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. Finally, Barclays PLC raised its stake in shares of Marine Products by 173.0% in the third quarter. Barclays PLC now owns 12,050 shares of the company’s stock valued at $116,000 after buying an additional 7,636 shares during the period. Hedge funds and other institutional investors own 13.86% of the company’s stock.

About Marine Products

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.