Marine Products (NYSE:MPX) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Marine Products (NYSE:MPX) to a hold rating in a report issued on Saturday morning.

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Marine Products in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Marine Products Stock Performance

Shares of NYSE:MPX opened at $8.91 on Friday. Marine Products has a 52 week low of $7.49 and a 52 week high of $10.08. The firm’s fifty day moving average is $8.65 and its 200-day moving average is $8.72. The firm has a market cap of $311.71 million, a PE ratio of 24.07 and a beta of 1.06.

Marine Products (NYSE:MPX) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.03). The company had revenue of $53.15 million during the quarter, compared to the consensus estimate of $54.80 million. Marine Products had a return on equity of 10.44% and a net margin of 5.84%. Sell-side analysts forecast that Marine Products will post 0.4 EPS for the current year.

Marine Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Monday, November 10th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date was Monday, November 10th. Marine Products’s dividend payout ratio is presently 151.35%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Marine Products during the second quarter worth $26,000. Strs Ohio purchased a new stake in Marine Products during the 1st quarter worth about $77,000. Corient Private Wealth LLC purchased a new stake in Marine Products during the 2nd quarter worth about $85,000. Kapitalo Investimentos Ltda bought a new position in Marine Products in the 2nd quarter worth about $112,000. Finally, Rhumbline Advisers grew its holdings in Marine Products by 66.6% during the 1st quarter. Rhumbline Advisers now owns 21,525 shares of the company’s stock valued at $181,000 after buying an additional 8,602 shares in the last quarter. 13.86% of the stock is currently owned by hedge funds and other institutional investors.

Marine Products Company Profile

Marine Products Corporation, headquartered in Sparta, Michigan, designs and manufactures inflatable and rigid-hulled inflatable boats (RIBs) for recreational, commercial and governmental customers. Established in 1954, the company leverages decades of engineering expertise to deliver vessels for applications such as law enforcement, search and rescue, military operations, offshore support and luxury yacht tenders.

The firm’s product lineup includes a variety of RIBs and inflatables constructed from advanced composite hulls and high-performance fabrics.