Americafirst Capital Management LLC Acquires New Position in Marine Products Corporation (MPX)

Americafirst Capital Management LLC acquired a new stake in shares of Marine Products Corporation (NYSE:MPX) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 38,631 shares of the company’s stock, valued at approximately $603,000. Americafirst Capital Management LLC owned approximately 0.11% of Marine Products Corporation at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Seizert Capital Partners LLC purchased a new stake in Marine Products Corporation during the second quarter valued at about $2,031,000. Zacks Investment Management purchased a new stake in Marine Products Corporation during the second quarter valued at about $799,000. Teton Advisors Inc. lifted its stake in Marine Products Corporation by 0.9% during the second quarter. Teton Advisors Inc. now owns 812,400 shares of the company’s stock valued at $12,682,000 after buying an additional 7,400 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Marine Products Corporation by 4.1% during the first quarter. Renaissance Technologies LLC now owns 189,607 shares of the company’s stock valued at $2,061,000 after buying an additional 7,389 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Marine Products Corporation by 2.4% during the first quarter. Bank of New York Mellon Corp now owns 186,635 shares of the company’s stock valued at $2,028,000 after buying an additional 4,415 shares in the last quarter. 15.26% of the stock is owned by institutional investors.

A number of research firms have commented on MPX. Zacks Investment Research lowered shares of Marine Products Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Ifs Securities reaffirmed a “market perform” rating on shares of Marine Products Corporation in a research note on Thursday, September 7th. B. Riley reaffirmed a “neutral” rating and set a $12.00 price objective on shares of Marine Products Corporation in a research note on Monday, August 7th. ValuEngine raised shares of Marine Products Corporation from a “hold” rating to a “buy” rating in a research note on Friday, July 28th. Finally, BidaskClub lowered shares of Marine Products Corporation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $15.00.

In other Marine Products Corporation news, Director Pam R. Rollins acquired 3,930 shares of Marine Products Corporation stock in a transaction dated Friday, August 25th. The stock was bought at an average cost of $15.14 per share, with a total value of $59,500.20. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at $151,400. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Pam R. Rollins acquired 6,070 shares of Marine Products Corporation stock in a transaction dated Thursday, August 24th. The stock was acquired at an average cost of $14.90 per share, with a total value of $90,443.00. Following the completion of the transaction, the director now directly owns 1,104 shares of the company’s stock, valued at approximately $16,449.60. The disclosure for this purchase can be found here. Company insiders own 77.90% of the company’s stock.

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Marine Products Corporation (MPX) traded down 0.45% during mid-day trading on Friday, reaching $15.53. 976 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $15.63 and a 200-day moving average price of $14.06. Marine Products Corporation has a 52 week low of $8.76 and a 52 week high of $17.12. The stock has a market cap of $541.72 million, a P/E ratio of 29.03 and a beta of 0.32.

Marine Products Corporation (NYSE:MPX) last announced its quarterly earnings results on Wednesday, July 26th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.15 by $0.03. Marine Products Corporation had a return on equity of 25.69% and a net margin of 7.60%. The company had revenue of $71.48 million for the quarter, compared to the consensus estimate of $73.33 million. On average, analysts forecast that Marine Products Corporation will post $0.64 earnings per share for the current year.

Marine Products Corporation Profile

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.

Institutional Ownership by Quarter for Marine Products Corporation (NYSE:MPX)

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