Marine Products (NYSE:MPX) Downgraded by StockNews.com to “Hold”

Marine Products (NYSE:MPX) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Marine Products Price Performance

Shares of NYSE:MPX opened at $9.03 on Wednesday. The stock has a market capitalization of $313.46 million, a P/E ratio of 17.04 and a beta of 1.23. The business has a 50-day moving average of $9.58 and a two-hundred day moving average of $9.62. Marine Products has a fifty-two week low of $8.86 and a fifty-two week high of $12.47.

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, topping analysts’ consensus estimates of $0.08 by $0.02. Marine Products had a return on equity of 13.55% and a net margin of 7.32%. The firm had revenue of $49.85 million during the quarter. During the same period in the previous year, the company earned $0.30 EPS. As a group, research analysts expect that Marine Products will post 0.4 EPS for the current fiscal year.

Institutional Trading of Marine Products

Several hedge funds and other institutional investors have recently bought and sold shares of MPX. Dimensional Fund Advisors LP lifted its holdings 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 worth $6,569,000 after acquiring an additional 9,680 shares during the period. FMR LLC increased its stake in shares of Marine Products by 198.2% in the 3rd 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 holdings in Marine Products by 661.6% during the 3rd 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 last quarter. De Lisle Partners LLP lifted its holdings in 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. Finally, Barclays PLC boosted its position in shares of 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 purchasing an additional 7,636 shares during the last quarter. 13.86% of the stock is currently owned by institutional investors and hedge funds.

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.