Marine Products Corporation (MPX) Director Acquires $90,443.00 in Stock
Marine Products Corporation (NYSE:MPX) Director Pam R. Rollins bought 6,070 shares of the company’s stock in a transaction on Thursday, August 24th. The stock was bought at an average cost of $14.90 per share, for a total transaction of $90,443.00. Following the completion of the acquisition, the director now directly owns 1,104 shares of the company’s stock, valued at approximately $16,449.60. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Marine Products Corporation (NYSE MPX) opened at 15.38 on Monday. The firm has a 50-day moving average price of $14.95 and a 200 day moving average price of $12.89. The company has a market capitalization of $536.49 million, a P/E ratio of 28.75 and a beta of 0.34. Marine Products Corporation has a 12-month low of $8.76 and a 12-month high of $16.25.
Marine Products Corporation (NYSE:MPX) last posted its earnings results on Wednesday, July 26th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.15 by $0.03. The firm had revenue of $71.48 million for the quarter, compared to analyst estimates of $73.33 million. Marine Products Corporation had a return on equity of 25.69% and a net margin of 7.60%. On average, equities research analysts predict that Marine Products Corporation will post $0.65 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Thursday, August 10th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend is Tuesday, August 8th. Marine Products Corporation’s payout ratio is 51.85%.
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MPX has been the topic of several analyst reports. Zacks Investment Research raised Marine Products Corporation from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Tuesday, May 2nd. ValuEngine raised Marine Products Corporation from a “hold” rating to a “buy” rating in a report on Friday, July 28th. BidaskClub downgraded Marine Products Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Finally, B. Riley reissued a “neutral” rating and issued a $12.00 target price on shares of Marine Products Corporation in a report on Monday, August 7th.
Institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN raised its position in shares of Marine Products Corporation by 0.4% in the second quarter. Wells Fargo & Company MN now owns 7,594 shares of the company’s stock valued at $118,000 after buying an additional 27 shares during the last quarter. Goldman Sachs Group Inc. purchased a new position in shares of Marine Products Corporation during the second quarter valued at about $187,000. Hillsdale Investment Management Inc. purchased a new position in shares of Marine Products Corporation during the second quarter valued at about $237,000. Susquehanna International Group LLP raised its position in shares of Marine Products Corporation by 37.0% in the second quarter. Susquehanna International Group LLP now owns 16,306 shares of the company’s stock valued at $255,000 after buying an additional 4,406 shares during the last quarter. Finally, Chicago Equity Partners LLC purchased a new position in shares of Marine Products Corporation during the second quarter valued at about $340,000. 15.26% of the stock is currently owned by institutional investors.
Marine Products Corporation Company Profile
Marine Products Corporation manufactures fiberglass motorized boats distributed and marketed through its independent dealer network. The Company designs, manufactures and sells recreational fiberglass powerboats in the sportboat, deckboat, cruiser, jet boat and sport fishing markets. The Company’s product offerings include Chaparral sterndrive, outboard and jet pleasure boats, and Robalo outboard sport fishing boats.
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