Marine Products Corp. (MPX) Given Average Rating of “Hold” by Brokerages
Marine Products Corp. (NYSE:MPX) has received an average broker rating score of 2.50 (Hold) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating and one has issued a buy rating on the company. Marine Products’ rating score has improved by 16.7% in the last 90 days as a result of various analysts’ upgrades and downgrades.
Brokers have set a one year consensus target price of $14.00 for the company and are predicting that the company will post $0.17 EPS for the current quarter, according to Zacks. Zacks has also given Marine Products an industry rank of 111 out of 265 based on the ratings given to related companies.
A number of research analysts have recently issued reports on MPX shares. B. Riley reiterated a “hold” rating and issued a $13.00 target price (up previously from $12.00) on shares of Marine Products in a research note on Thursday, October 26th. Zacks Investment Research cut shares of Marine Products from a “hold” rating to a “strong sell” rating in a research note on Saturday, January 27th. Finally, Ifs Securities upgraded shares of Marine Products from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th.
Marine Products (NYSE:MPX) last posted its earnings results on Wednesday, January 24th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. Marine Products had a net margin of 7.22% and a return on equity of 29.79%. The company had revenue of $65.59 million during the quarter, compared to analysts’ expectations of $67.68 million. equities analysts forecast that Marine Products will post 0.74 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 9th will be paid a $0.10 dividend. The ex-dividend date is Thursday, February 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.79%. This is a boost from Marine Products’s previous quarterly dividend of $0.07. Marine Products’s payout ratio is 50.00%.
Institutional investors have recently modified their holdings of the stock. OxFORD Asset Management LLP acquired a new stake in shares of Marine Products in the third quarter valued at approximately $391,000. Dimensional Fund Advisors LP increased its holdings in shares of Marine Products by 3.1% in the second quarter. Dimensional Fund Advisors LP now owns 569,848 shares of the company’s stock valued at $8,895,000 after purchasing an additional 16,977 shares in the last quarter. Seizert Capital Partners LLC increased its holdings in shares of Marine Products by 4.5% in the third quarter. Seizert Capital Partners LLC now owns 135,998 shares of the company’s stock valued at $2,183,000 after purchasing an additional 5,901 shares in the last quarter. Hillsdale Investment Management Inc. increased its holdings in shares of Marine Products by 333.3% in the third quarter. Hillsdale Investment Management Inc. now owns 65,794 shares of the company’s stock valued at $1,056,000 after purchasing an additional 50,609 shares in the last quarter. Finally, Americafirst Capital Management LLC acquired a new stake in shares of Marine Products in the second quarter valued at approximately $603,000. 15.03% of the stock is owned by institutional investors and hedge funds.
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About Marine Products
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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