FY2024 EPS Estimates for Marine Products Co. (NYSE:MPX) Cut by Analyst

Marine Products Co. (NYSE:MPX) – Equities research analysts at DA Davidson dropped their FY2024 earnings estimates for shares of Marine Products in a report issued on Tuesday, April 30th. DA Davidson analyst B. Rolle now expects that the company will post earnings per share of $0.60 for the year, down from their prior estimate of $0.95. The consensus estimate for Marine Products’ current full-year earnings is $0.95 per share.

Marine Products Stock Performance

NYSE:MPX opened at $11.12 on Thursday. The company has a 50-day moving average of $10.98 and a 200-day moving average of $10.85. The company has a market capitalization of $385.64 million, a price-to-earnings ratio of 11.01 and a beta of 1.26. Marine Products has a 52 week low of $9.18 and a 52 week high of $17.81.

Hedge Funds Weigh In On Marine Products

Institutional investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC raised its stake in shares of Marine Products by 110.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 56,917 shares of the company’s stock worth $649,000 after acquiring an additional 29,905 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Marine Products in the third quarter worth about $367,000. Swiss National Bank bought a new position in shares of Marine Products in the third quarter worth about $323,000. O Shaughnessy Asset Management LLC raised its stake in shares of Marine Products by 37.6% in the third quarter. O Shaughnessy Asset Management LLC now owns 58,524 shares of the company’s stock worth $832,000 after acquiring an additional 16,001 shares during the last quarter. Finally, Denali Advisors LLC raised its stake in shares of Marine Products by 27.7% in the first quarter. Denali Advisors LLC now owns 70,600 shares of the company’s stock worth $830,000 after acquiring an additional 15,300 shares during the last quarter. 13.86% of the stock is owned by institutional investors.

Marine Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date is Thursday, May 9th. Marine Products’s payout ratio is 55.45%.

Marine Products Company Profile

Marine Products Corporation designs, manufactures, and sells recreational fiberglass powerboats for the sport boat and sport fishing boat markets worldwide. The company offers Chaparral sterndrive pleasure boats, including SSi Sport Boats, SSX Sport Boats, and the Surf Series; Chaparral outboard pleasure boats, which include OSX Luxury Sportboats and SSi outboard models; and Robalo outboard sport fishing boats.