Marine Products (NYSE:MPX) Rating Increased to Buy at StockNews.com

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

Marine Products Stock Performance

Shares of MPX opened at $9.04 on Thursday. The company has a market capitalization of $313.81 million, a price-to-earnings ratio of 17.06 and a beta of 1.23. Marine Products has a fifty-two week low of $8.67 and a fifty-two week high of $12.47. The firm has a 50-day simple moving average of $9.50 and a 200-day simple moving average of $9.57.

Marine Products (NYSE:MPXGet Free Report) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The company had revenue of $49.85 million during 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 business posted $0.30 earnings per share. Equities research analysts forecast that Marine Products will post 0.4 EPS for the current year.

Institutional Trading of Marine Products

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC increased its position in 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 purchasing an additional 5,552 shares during the period. Barclays PLC boosted 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 in the last quarter. Geode Capital Management LLC boosted its stake in shares of Marine Products by 3.7% in the third 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 in the last quarter. Dimensional Fund Advisors LP grew its holdings in Marine Products by 1.5% during the second 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. Finally, BNP Paribas Financial Markets raised its position in Marine Products by 661.6% in the third quarter. BNP Paribas Financial Markets now owns 20,526 shares of the company’s stock worth $199,000 after acquiring an additional 17,831 shares in the last quarter. Hedge funds and other institutional investors own 13.86% of the company’s stock.

About Marine Products

(Get Free Report)

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.

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