According to Zacks, “MARINE PRODUCTS is the third-largest distributor of sterndrive powerboats in the U.S. The company designs, manufactures and distributes premium-branded Chaparral sterndrive pleasure boats and Robalo outboard offshore fishing boats, and continues to diversify its product line through product innovation and strategic acquisition. With premium brands and a solid capital structure, Marine Products Corporation is prepared to capitalize on opportunities to increase its market share and to generate superior financial performance to build long-term shareholder value. “
Separately, B. Riley reiterated a neutral rating and set a $10.00 price objective on shares of Marine Products Corp. in a research report on Tuesday, August 2nd.
Marine Products Corp. (NYSE:MPX) opened at 8.97 on Wednesday. The firm has a market cap of $344.04 million, a P/E ratio of 21.56 and a beta of 1.53. Marine Products Corp. has a 52-week low of $4.92 and a 52-week high of $9.38. The company’s 50 day moving average is $8.89 and its 200-day moving average is $8.46.
Marine Products Corp. (NYSE:MPX) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.14 by $0.01. The firm had revenue of $65 million for the quarter, compared to the consensus estimate of $62.09 million. Marine Products Corp. had a net margin of 6.95% and a return on equity of 17.09%. On average, equities analysts predict that Marine Products Corp. will post $0.50 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Wednesday, August 10th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, August 8th. This represents a $0.24 annualized dividend and a dividend yield of 2.68%. Marine Products Corp.’s dividend payout ratio (DPR) is presently 58.54%.
Institutional investors have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. raised its position in Marine Products Corp. by 1.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 33,704 shares of the company’s stock valued at $286,000 after buying an additional 630 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in Marine Products Corp. by 1.1% in the second quarter. Parametric Portfolio Associates LLC now owns 12,617 shares of the company’s stock valued at $107,000 after buying an additional 140 shares during the last quarter. Rhumbline Advisers raised its position in Marine Products Corp. by 0.4% in the second quarter. Rhumbline Advisers now owns 16,961 shares of the company’s stock valued at $143,000 after buying an additional 75 shares during the last quarter. Teachers Advisors Inc. raised its position in Marine Products Corp. by 26.8% in the second quarter. Teachers Advisors Inc. now owns 16,320 shares of the company’s stock valued at $138,000 after buying an additional 3,449 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in Marine Products Corp. by 1.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 417,412 shares of the company’s stock valued at $3,531,000 after buying an additional 4,837 shares during the last quarter. Hedge funds and other institutional investors own 20.29% of the company’s stock.
About Marine Products Corp.
Marine Products Corporation (MPC) is engaged in manufacturing powerboats and providing related products and services. The Company manufactures fiberglass motorized boats distributed and marketed through its independent dealer network. The Company operates in Powerboat Manufacturing business segment. The Company’s product offerings include Chaparral sterndrive, outboard and jet pleasure boats, and Robalo outboard sport fishing boats.
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