Marine Products (MPX) Rating Increased to Buy at ValuEngine
ValuEngine upgraded shares of Marine Products (NYSE:MPX) from a hold rating to a buy rating in a research report report published on Wednesday morning.
Several other analysts also recently weighed in on the company. Zacks Investment Research downgraded Marine Products from a hold rating to a strong sell rating in a research note on Saturday, January 27th. Ifs Securities upgraded Marine Products from a market perform rating to an outperform rating in a research note on Monday, January 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $15.50.
Shares of Marine Products (NYSE MPX) opened at $15.25 on Wednesday. The firm has a market capitalization of $528.12, a P/E ratio of 25.00 and a beta of 0.37. Marine Products has a 52 week low of $9.88 and a 52 week high of $17.12.
The business also recently declared a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Friday, February 9th were paid a $0.10 dividend. The ex-dividend date was Thursday, February 8th. This represents a $0.40 annualized dividend and a dividend yield of 2.62%. This is an increase from Marine Products’s previous quarterly dividend of $0.07. Marine Products’s dividend payout ratio is presently 71.43%.
Several institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN grew its stake in shares of Marine Products by 0.4% in the 2nd quarter. Wells Fargo & Company MN now owns 7,594 shares of the company’s stock worth $118,000 after buying an additional 27 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Marine Products by 2.6% in the 4th quarter. Bank of New York Mellon Corp now owns 168,942 shares of the company’s stock worth $2,152,000 after buying an additional 4,293 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Marine Products by 17.9% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 29,416 shares of the company’s stock worth $375,000 after buying an additional 4,464 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Marine Products by 27.3% in the 4th quarter. Deutsche Bank AG now owns 27,692 shares of the company’s stock worth $351,000 after buying an additional 5,941 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Marine Products by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 393,381 shares of the company’s stock valued at $6,141,000 after purchasing an additional 6,385 shares during the last quarter. Institutional investors own 14.45% of the company’s stock.
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About Marine Products
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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