Marine Products Corporation (NYSE:MPX)‘s stock had its “neutral” rating reaffirmed by B. Riley in a research note issued to investors on Monday. They currently have a $12.00 price target on the stock. B. Riley’s price objective indicates a potential downside of 18.26% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. ValuEngine upgraded shares of Marine Products Corporation from a “hold” rating to a “buy” rating in a research note on Friday, July 28th. BidaskClub downgraded shares of Marine Products Corporation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Finally, Zacks Investment Research downgraded shares of Marine Products Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th.

Marine Products Corporation (NYSE:MPX) traded up 1.09% during mid-day trading on Monday, reaching $14.84. The company’s stock had a trading volume of 5,535 shares. The company’s 50-day moving average price is $14.86 and its 200 day moving average price is $12.54. The firm has a market capitalization of $517.65 million, a price-to-earnings ratio of 27.74 and a beta of 0.34. Marine Products Corporation has a 52 week low of $8.30 and a 52 week high of $16.25.

Marine Products Corporation (NYSE:MPX) last posted its quarterly earnings results on Wednesday, July 26th. The company reported $0.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.03. The business had revenue of $71.48 million during the quarter, compared to the consensus estimate of $73.33 million. Marine Products Corporation had a net margin of 7.60% and a return on equity of 25.69%. On average, equities analysts forecast that Marine Products Corporation will post $0.65 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Marine Products Corporation’s (MPX) “Neutral” Rating Reaffirmed at B. Riley” was originally reported by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another site, it was illegally stolen and republished in violation of United States and international copyright & trademark law. The legal version of this article can be read at https://www.americanbankingnews.com/2017/08/07/marine-products-corporations-mpx-neutral-rating-reaffirmed-at-b-riley.html.

In other news, CFO Ben M. Palmer sold 2,500 shares of Marine Products Corporation stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $14.27, for a total transaction of $35,675.00. Following the completion of the sale, the chief financial officer now directly owns 383,573 shares of the company’s stock, valued at approximately $5,473,586.71. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Ben M. Palmer sold 13,500 shares of Marine Products Corporation stock in a transaction on Friday, June 9th. The stock was sold at an average price of $14.05, for a total transaction of $189,675.00. Following the sale, the chief financial officer now directly owns 378,573 shares of the company’s stock, valued at $5,318,950.65. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,000 shares of company stock valued at $297,100. Corporate insiders own 77.90% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in shares of Marine Products Corporation by 5.5% in the first quarter. Dimensional Fund Advisors LP now owns 552,871 shares of the company’s stock valued at $6,010,000 after buying an additional 28,765 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Marine Products Corporation by 4.1% in 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. Teton Advisors Inc. boosted its position in shares of Marine Products Corporation by 0.9% in 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. Bank of New York Mellon Corp boosted its position in shares of Marine Products Corporation by 2.4% in 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. Finally, Wedge Capital Management L L P NC acquired a new position in shares of Marine Products Corporation during the first quarter valued at about $349,000. 15.27% of the stock is owned by institutional investors and hedge funds.

Marine Products Corporation Company 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.

Receive News & Ratings for Marine Products Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marine Products Corporation and related companies with MarketBeat.com's FREE daily email newsletter.