Marine Products (NYSE:MPX) Lowered to Hold Rating by StockNews.com

StockNews.com cut shares of Marine Products (NYSE:MPX - Free Report) from a buy rating to a hold rating in a report published on Wednesday morning.

Marine Products Trading Down 0.1 %

Shares of Marine Products stock traded down $0.01 during trading on Wednesday, hitting $9.02. 26,488 shares of the stock were exchanged, compared to its average volume of 30,758. The company has a fifty day moving average price of $9.58 and a 200-day moving average price of $9.62. The stock has a market capitalization of $313.11 million, a price-to-earnings ratio of 17.02 and a beta of 1.23. Marine Products has a 1-year low of $8.86 and a 1-year high of $12.47.

Marine Products (NYSE:MPX - Get Free Report) last issued its earnings results on Thursday, October 24th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.08 by $0.02. Marine Products had a return on equity of 13.55% and a net margin of 7.32%. The company had revenue of $49.85 million during the quarter. During the same quarter in the prior year, the firm posted $0.30 earnings per share. Equities research analysts forecast that Marine Products will post 0.4 EPS for the current fiscal year.

Marine Products Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 11th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 6.21%. The ex-dividend date was Friday, November 8th. Marine Products's dividend payout ratio is presently 105.66%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its holdings in shares of Marine Products by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 650,433 shares of the company's stock worth $6,569,000 after acquiring an additional 9,680 shares during the period. FMR LLC lifted its holdings in Marine Products by 198.2% during the 3rd quarter. FMR LLC now owns 8,353 shares of the company's stock worth $81,000 after purchasing an additional 5,552 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Marine Products by 661.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 20,526 shares of the company's stock valued at $199,000 after purchasing an additional 17,831 shares during the period. De Lisle Partners LLP grew its holdings in Marine Products by 44.8% in the 3rd quarter. De Lisle Partners LLP now owns 297,992 shares of the company's stock valued at $2,901,000 after buying an additional 92,181 shares in the last quarter. Finally, Barclays PLC increased its position in Marine Products by 173.0% during the 3rd quarter. Barclays PLC now owns 12,050 shares of the company's stock worth $116,000 after buying an additional 7,636 shares during the period. Institutional investors and hedge funds 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.