Marine Products (NYSE:MPX) Upgraded at StockNews.com

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

Marine Products Price Performance

NYSE:MPX opened at $9.47 on Friday. Marine Products has a 1-year low of $8.67 and a 1-year high of $12.47. The firm has a market capitalization of $328.53 million, a price-to-earnings ratio of 17.86 and a beta of 1.23. The company’s 50-day moving average is $9.35 and its two-hundred day moving average is $9.55.

Marine Products (NYSE:MPXGet Free Report) last issued its earnings results on Thursday, January 30th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.07. Marine Products had a net margin of 7.32% and a return on equity of 13.55%. As a group, equities analysts anticipate that Marine Products will post 0.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Marine Products

A number of institutional investors have recently made changes to their positions in MPX. De Lisle Partners LLP grew its stake in Marine Products by 44.8% in the 3rd quarter. De Lisle Partners LLP now owns 297,992 shares of the company’s stock worth $2,901,000 after acquiring an additional 92,181 shares during the period. BNP Paribas Financial Markets boosted its holdings 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. Dimensional Fund Advisors LP lifted its holdings in shares of 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 buying an additional 9,680 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Marine Products by 3.7% during the third quarter. Geode Capital Management LLC now owns 240,735 shares of the company’s stock worth $2,333,000 after purchasing an additional 8,527 shares during the period. Finally, Barclays PLC grew its holdings in Marine Products by 173.0% during the third quarter. Barclays PLC now owns 12,050 shares of the company’s stock worth $116,000 after buying an additional 7,636 shares in the last quarter. 13.86% of the stock is currently owned by institutional investors and hedge funds.

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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