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 research report sent to investors on Friday morning.

Marine Products Stock Down 1.3 %

Shares of MPX opened at $9.37 on Friday. The business has a fifty day moving average of $9.34 and a 200 day moving average of $9.53. The company has a market cap of $325.23 million, a PE ratio of 17.68 and a beta of 1.23. Marine Products has a 52-week low of $8.67 and a 52-week high of $12.47.

Marine Products (NYSE:MPX) last released its earnings results on Thursday, January 30th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate 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, research analysts anticipate that Marine Products will post 0.4 earnings per share for the current fiscal year.

Marine Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.98%. Marine Products’s dividend payout ratio is 105.66%.

Hedge Funds Weigh In On Marine Products

A number of large investors have recently bought and sold shares of the business. De Lisle Partners LLP increased its stake 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 purchasing an additional 92,181 shares during the period. BNP Paribas Financial Markets lifted 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 valued at $199,000 after buying an additional 17,831 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in 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 buying an additional 9,680 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Marine Products by 3.7% during the 3rd 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. Finally, Barclays PLC boosted its position in Marine Products by 173.0% in the 3rd 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.

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.