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

Marine Products (NYSE:MPX) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

Marine Products Price Performance

NYSE MPX traded up $0.09 on Friday, hitting $9.34. 57,489 shares of the stock were exchanged, compared to its average volume of 33,706. Marine Products has a 52 week low of $8.86 and a 52 week high of $12.47. The company has a market capitalization of $324.19 million, a PE ratio of 17.62 and a beta of 1.22. The business’s fifty day moving average is $9.70 and its 200 day moving average is $9.72.

Marine Products (NYSE:MPX) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.10 earnings per share 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 business had revenue of $49.85 million during the quarter. During the same period in the previous year, the business posted $0.30 earnings per share. Analysts predict that Marine Products will post 0.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC lifted its position in shares of Marine Products by 21,775.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,625 shares of the company’s stock worth $27,000 after purchasing an additional 2,613 shares during the period. FMR LLC raised its holdings in shares of Marine Products by 198.2% in 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 period. Barclays PLC raised its position in shares of Marine Products by 173.0% in the third quarter. Barclays PLC now owns 12,050 shares of the company’s stock valued at $116,000 after purchasing an additional 7,636 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Marine Products by 661.6% in the third quarter. BNP Paribas Financial Markets now owns 20,526 shares of the company’s stock worth $199,000 after acquiring an additional 17,831 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Marine Products by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 240,735 shares of the company’s stock valued at $2,333,000 after buying an additional 8,527 shares in the last quarter. Institutional investors and hedge funds 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.