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

Brokerages have set a 1 year consensus price objective of $13.00 for the company and are forecasting that the company will post $0.17 earnings per share for the current quarter, according to Zacks. Zacks has also given Marine Products Corporation an industry rank of 87 out of 265 based on the ratings given to related companies.

MPX has been the subject of several research reports. Zacks Investment Research raised Marine Products Corporation from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Tuesday, September 26th. ValuEngine raised Marine Products Corporation from a “hold” rating to a “buy” rating in a report on Friday, July 28th. BidaskClub lowered Marine Products Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. B. Riley reissued a “hold” rating and set a $13.00 price objective (up from $12.00) on shares of Marine Products Corporation in a report on Thursday, October 26th. Finally, Ifs Securities reissued a “market perform” rating on shares of Marine Products Corporation in a report on Thursday, September 7th.

Shares of Marine Products Corporation (MPX) opened at $14.01 on Wednesday. The company has a market capitalization of $514.69, a P/E ratio of 26.43 and a beta of 0.27. Marine Products Corporation has a 52-week low of $9.37 and a 52-week high of $17.12.

Marine Products Corporation (NYSE:MPX) last issued its quarterly earnings results on Wednesday, October 25th. The company reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate 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 analysts’ expectations of $67.86 million. analysts predict that Marine Products Corporation will post 0.64 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 10th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.00%. The ex-dividend date is Thursday, November 9th. Marine Products Corporation’s dividend payout ratio (DPR) is 50.00%.

In related news, Director Pam R. Rollins purchased 6,070 shares of the business’s stock in a transaction dated Thursday, August 24th. The stock was purchased at an average cost of $14.90 per share, with a total value of $90,443.00. Following the completion of the acquisition, the director now directly owns 1,104 shares of the company’s stock, valued at $16,449.60. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Pam R. Rollins purchased 3,930 shares of the business’s stock in a transaction dated Friday, August 25th. The stock was bought at an average cost of $15.14 per share, with a total value of $59,500.20. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $151,400. The disclosure for this purchase can be found here. 77.90% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN boosted its holdings in shares of Marine Products Corporation by 0.4% in the second quarter. Wells Fargo & Company MN now owns 7,594 shares of the company’s stock worth $118,000 after acquiring an additional 27 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of Marine Products Corporation by 0.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 41,258 shares of the company’s stock worth $645,000 after acquiring an additional 304 shares during the period. Susquehanna International Group LLP boosted its holdings in shares of Marine Products Corporation by 37.0% in the second quarter. Susquehanna International Group LLP now owns 16,306 shares of the company’s stock worth $255,000 after acquiring an additional 4,406 shares during the period. Bank of New York Mellon Corp boosted its holdings 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 worth $2,028,000 after acquiring an additional 4,415 shares during the period. Finally, Seizert Capital Partners LLC boosted its holdings in shares of Marine Products Corporation by 4.5% in the third quarter. Seizert Capital Partners LLC now owns 135,998 shares of the company’s stock worth $2,183,000 after acquiring an additional 5,901 shares during the period. 15.32% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: “Zacks: Marine Products Corporation (MPX) Receives Average Recommendation of “Hold” from Analysts” was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece on another site, it was copied illegally and republished in violation of U.S. and international copyright laws. The correct version of this piece can be read at https://www.thecerbatgem.com/2017/11/08/zacks-marine-products-corporation-mpx-receives-average-recommendation-of-hold-from-analysts.html.

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 & Stock 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 stocks with our FREE daily email newsletter.