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

Marine Products (NYSE:MPX) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Thursday.

Marine Products Stock Up 0.1 %

Shares of NYSE:MPX opened at $9.69 on Thursday. The stock has a market cap of $336.34 million, a price-to-earnings ratio of 18.28 and a beta of 1.22. Marine Products has a 12-month low of $8.86 and a 12-month high of $12.47. The business’s 50 day moving average is $9.72 and its 200 day moving average is $9.75.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC raised its stake in shares of Marine Products by 21,775.0% in the second quarter. Nisa Investment Advisors LLC now owns 2,625 shares of the company’s stock valued at $27,000 after buying an additional 2,613 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Marine Products by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 650,433 shares of the company’s stock valued at $6,569,000 after buying an additional 9,680 shares during the period. FMR LLC raised its stake in shares of 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 buying an additional 5,552 shares during the period. BNP Paribas Financial Markets raised its stake 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 buying an additional 17,831 shares during the period. Finally, De Lisle Partners LLP raised 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 valued at $2,901,000 after buying an additional 92,181 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.