Marine Products Corporation (MPX) – Research Analysts’ Recent Ratings Updates
A number of firms have modified their ratings and price targets on shares of Marine Products Corporation (NYSE: MPX) recently:
- 8/7/2017 – Marine Products Corporation had its “neutral” rating reaffirmed by analysts at B. Riley. They now have a $12.00 price target on the stock.
- 8/2/2017 – Marine Products Corporation had its “neutral” rating reaffirmed by analysts at B. Riley. They now have a $12.00 price target on the stock.
- 7/28/2017 – Marine Products Corporation was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
- 7/19/2017 – Marine Products Corporation was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
- 6/29/2017 – Marine Products Corporation was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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. “
Marine Products Corporation (NYSE MPX) traded up 0.20% during mid-day trading on Tuesday, hitting $15.06. 41,131 shares of the company traded hands. The firm has a 50 day moving average of $14.94 and a 200 day moving average of $12.59. The firm has a market capitalization of $525.32 million, a P/E ratio of 28.15 and a beta of 0.34. Marine Products Corporation has a one year low of $8.30 and a one year high of $16.25.
Marine Products Corporation (NYSE:MPX) last issued its quarterly earnings results on Wednesday, July 26th. The company reported $0.18 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.03. The firm had revenue of $71.48 million for the quarter, compared to analyst estimates of $73.33 million. Marine Products Corporation had a net margin of 7.60% and a return on equity of 25.69%. Equities research analysts expect that Marine Products Corporation will post $0.65 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Thursday, August 10th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Tuesday, August 8th. Marine Products Corporation’s payout ratio is 51.85%.
In other news, CFO Ben M. Palmer sold 13,500 shares of the company’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $14.05, for a total value of $189,675.00. Following the completion of the sale, the chief financial officer now owns 378,573 shares of the company’s stock, valued at approximately $5,318,950.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy Curtis Rollins acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, May 17th. The stock was acquired at an average cost of $12.67 per share, with a total value of $63,350.00. Following the purchase, the director now directly owns 2,091 shares in the company, valued at approximately $26,492.97. The disclosure for this purchase can be found here. Insiders sold a total of 21,000 shares of company stock worth $297,100 in the last three months. Insiders own 77.90% of the company’s stock.
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.
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