Marine Products Corporation (NYSE:MPX) has been assigned a consensus broker rating score of 3.00 (Hold) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold recommendation.

Brokerages have set a 12 month consensus price target of $13.00 for the company and are expecting that the company will post $0.17 EPS for the current quarter, according to Zacks. Zacks has also given Marine Products Corporation an industry rank of 27 out of 265 based on the ratings given to related companies.

A number of research firms have issued reports on MPX. B. Riley restated a “hold” rating and set a $13.00 target price (up from $12.00) on shares of Marine Products Corporation in a research report on Thursday, October 26th. Zacks Investment Research downgraded shares of Marine Products Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Ifs Securities restated a “market perform” rating on shares of Marine Products Corporation in a research report on Thursday, September 7th. Finally, ValuEngine upgraded shares of Marine Products Corporation from a “hold” rating to a “buy” rating in a research report on Friday, July 28th.

TRADEMARK VIOLATION WARNING: This piece of content was first posted by American Banking News and is owned by of American Banking News. If you are accessing this piece of content on another website, it was illegally stolen and reposted in violation of United States & international copyright law. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2017/11/23/marine-products-corporation-mpx-receives-average-rating-of-hold-from-brokerages.html.

In other news, Director Pam R. Rollins purchased 3,930 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The shares were acquired at an average cost of $15.14 per share, for a total transaction of $59,500.20. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $151,400. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have sold 802,000 shares of company stock worth $0. Corporate insiders own 77.90% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Wells Fargo & Company MN raised its position in shares of Marine Products Corporation by 0.4% in the 2nd quarter. Wells Fargo & Company MN now owns 7,594 shares of the company’s stock valued at $118,000 after acquiring an additional 27 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Marine Products Corporation by 0.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 41,258 shares of the company’s stock valued at $645,000 after acquiring an additional 304 shares during the period. Susquehanna International Group LLP raised its position in shares of Marine Products Corporation by 37.0% in the 2nd quarter. Susquehanna International Group LLP now owns 16,306 shares of the company’s stock valued at $255,000 after acquiring an additional 4,406 shares during the period. Bank of New York Mellon Corp raised its position in shares of Marine Products Corporation by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 192,251 shares of the company’s stock valued at $3,001,000 after acquiring an additional 5,616 shares during the period. Finally, Seizert Capital Partners LLC raised its position in shares of Marine Products Corporation by 4.5% in the 3rd quarter. Seizert Capital Partners LLC now owns 135,998 shares of the company’s stock valued at $2,183,000 after acquiring an additional 5,901 shares during the period. Institutional investors and hedge funds own 15.53% of the company’s stock.

Shares of Marine Products Corporation (NYSE MPX) traded down $0.05 during trading hours on Thursday, reaching $14.69. 17,100 shares of the company’s stock were exchanged, compared to its average volume of 35,877. Marine Products Corporation has a 12-month low of $9.88 and a 12-month high of $17.12. The company has a market cap of $512.61, a price-to-earnings ratio of 26.32 and a beta of 0.27.

Marine Products Corporation (NYSE:MPX) last released its earnings results on Wednesday, October 25th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). Marine Products Corporation had a net margin of 7.59% and a return on equity of 28.42%. The business had revenue of $59.20 million for the quarter, compared to analyst estimates of $67.86 million. analysts predict that Marine Products Corporation will post 0.64 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 10th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $0.28 dividend on an annualized basis and a yield of 1.91%. Marine Products Corporation’s payout ratio is presently 50.00%.

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.

Get a free copy of the Zacks research report on Marine Products Corporation (MPX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.