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. “
Several other research firms also recently commented on MPX. Ifs Securities reiterated an “outperform” rating on shares of Marine Products in a research report on Thursday, April 25th. B. Riley set a $15.00 target price on shares of Marine Products and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Finally, ValuEngine upgraded shares of Vale from a “sell” rating to a “hold” rating in a report on Tuesday, July 16th.
NYSE:MPX opened at $13.49 on Friday. The stock’s 50 day simple moving average is $15.31. Marine Products has a one year low of $12.48 and a one year high of $24.82. The firm has a market cap of $460.35 million, a P/E ratio of 16.25 and a beta of 0.52.
Marine Products (NYSE:MPX) last posted its earnings results on Wednesday, April 24th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.17 by $0.05. Marine Products had a net margin of 9.32% and a return on equity of 36.92%. The business had revenue of $83.05 million for the quarter, compared to the consensus estimate of $73.18 million. Analysts predict that Marine Products will post 0.81 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the business. Denali Advisors LLC raised its holdings in Marine Products by 4,129.5% during the 1st quarter. Denali Advisors LLC now owns 12,181 shares of the company’s stock worth $164,000 after purchasing an additional 11,893 shares during the last quarter. Rhumbline Advisers bought a new position in Marine Products during the 4th quarter worth approximately $193,000. Stanley Laman Group Ltd. bought a new position in Marine Products during the 1st quarter worth approximately $236,000. Raymond James & Associates bought a new position in Marine Products during the 4th quarter worth approximately $325,000. Finally, Wedge Capital Management L L P NC raised its holdings in Marine Products by 49.7% during the 1st quarter. Wedge Capital Management L L P NC now owns 31,689 shares of the company’s stock worth $427,000 after purchasing an additional 10,523 shares during the last quarter. Hedge funds and other institutional investors own 14.67% of the company’s stock.
About Marine Products
Marine Products Corporation designs, manufactures, and sells recreational fiberglass powerboats for the sportboat, deckboat, cruiser, jet boat, and sport fishing markets worldwide. The company provides Chaparral sterndrive pleasure boats, including SSi and SSX sportboats, Sunesta sportdecks, Signature cruisers, SunCoast sportdeck outboards, Vortex jet boats and the Surf Series, and Robalo outboard sport fishing boats, as well as H2O Sport, and Fish and Ski boats.
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