Marine Products (NYSE:MPX) Upgraded to Buy at StockNews.com

Marine Products (NYSE:MPX) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

Marine Products Stock Up 2.0 %

Shares of MPX stock opened at $9.17 on Tuesday. The business’s 50 day moving average is $9.61 and its two-hundred day moving average is $9.65. Marine Products has a 12 month low of $8.86 and a 12 month high of $12.47. The company has a market cap of $318.32 million, a PE ratio of 17.30 and a beta of 1.22.

Marine Products (NYSE:MPX) last posted its earnings results on Thursday, October 24th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The business had revenue of $49.85 million for the quarter. Marine Products had a net margin of 7.32% and a return on equity of 13.55%. During the same quarter in the previous year, the business posted $0.30 earnings per share. As a group, equities analysts expect that Marine Products will post 0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Marine Products

A number of institutional investors and hedge funds have recently bought and sold shares of MPX. FMR LLC raised its holdings in Marine Products by 198.2% in the 3rd quarter. FMR LLC now owns 8,353 shares of the company’s stock valued at $81,000 after acquiring an additional 5,552 shares in the last quarter. Barclays PLC raised its stake in shares of Marine Products by 173.0% in the third quarter. Barclays PLC now owns 12,050 shares of the company’s stock valued at $116,000 after purchasing an additional 7,636 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Marine Products by 661.6% in the third quarter. BNP Paribas Financial Markets now owns 20,526 shares of the company’s stock worth $199,000 after purchasing an additional 17,831 shares during the period. Geode Capital Management LLC boosted its stake in Marine Products by 3.7% during the third quarter. Geode Capital Management LLC now owns 240,735 shares of the company’s stock worth $2,333,000 after buying an additional 8,527 shares in the last quarter. Finally, De Lisle Partners LLP increased its holdings in Marine Products by 44.8% in the 3rd quarter. De Lisle Partners LLP now owns 297,992 shares of the company’s stock valued at $2,901,000 after buying an additional 92,181 shares during the period. Institutional investors own 13.86% of the company’s stock.

About Marine Products

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.