Marine Products (NYSE:MPX) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Marine Products (NYSE:MPX - Free Report) from a hold rating to a buy rating in a research report released on Thursday.

Marine Products Stock Performance

Shares of MPX traded up $0.07 during mid-day trading on Thursday, reaching $9.13. The company had a trading volume of 26,041 shares, compared to its average volume of 31,514. The company has a market capitalization of $316.73 million, a price-to-earnings ratio of 17.22 and a beta of 1.23. The company's 50 day simple moving average is $9.48 and its 200 day simple moving average is $9.57. Marine Products has a 1-year low of $8.67 and a 1-year high of $12.47.

Marine Products (NYSE:MPX - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.10 earnings per share (EPS) for the quarter, beating 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 period in the prior year, the company earned $0.30 EPS. As a group, equities analysts forecast that Marine Products will post 0.4 earnings per share for the current fiscal year.

Marine Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 11th were issued a $0.14 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.56 dividend on an annualized basis and a yield of 6.14%. Marine Products's payout ratio is 105.66%.

Institutional Investors Weigh In On Marine Products

A number of institutional investors have recently made changes to their positions in MPX. FMR LLC raised its position in shares of Marine Products by 198.2% during the third quarter. FMR LLC now owns 8,353 shares of the company's stock worth $81,000 after acquiring an additional 5,552 shares during the last quarter. Barclays PLC lifted its position in shares of Marine Products by 173.0% in the 3rd quarter. Barclays PLC now owns 12,050 shares of the company's stock worth $116,000 after purchasing an additional 7,636 shares during the period. Geode Capital Management LLC increased its position in shares of Marine Products by 3.7% during the third quarter. Geode Capital Management LLC now owns 240,735 shares of the company's stock worth $2,333,000 after buying an additional 8,527 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Marine Products by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 650,433 shares of the company's stock valued at $6,569,000 after buying an additional 9,680 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Marine Products by 661.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 20,526 shares of the company's stock worth $199,000 after buying an additional 17,831 shares in the last quarter. Institutional investors own 13.86% of the company's stock.

About Marine Products

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.