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

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

Marine Products Stock Down 1.3 %

MPX stock opened at $9.37 on Friday. Marine Products has a 52-week low of $8.67 and a 52-week high of $12.47. The company’s 50-day simple moving average is $9.34 and its 200-day simple moving average is $9.54. The firm has a market cap of $325.23 million, a P/E ratio of 17.68 and a beta of 1.23.

Marine Products (NYSE:MPX) last issued its quarterly earnings data on Thursday, January 30th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.05 by $0.07. Marine Products had a return on equity of 13.55% and a net margin of 7.32%. On average, analysts anticipate that Marine Products will post 0.4 earnings per share for the current fiscal year.

Institutional Trading of Marine Products

Institutional investors have recently modified their holdings of the stock. FMR LLC raised its position in shares of Marine Products by 198.2% during the 3rd quarter. FMR LLC now owns 8,353 shares of the company’s stock worth $81,000 after purchasing an additional 5,552 shares during the last quarter. Barclays PLC increased its stake in Marine Products by 173.0% during the 3rd quarter. Barclays PLC now owns 12,050 shares of the company’s stock worth $116,000 after buying an additional 7,636 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Marine Products by 10.6% during the fourth quarter. Rhumbline Advisers now owns 12,923 shares of the company’s stock valued at $118,000 after acquiring an additional 1,236 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Marine Products by 661.6% in the third quarter. BNP Paribas Financial Markets now owns 20,526 shares of the company’s stock valued at $199,000 after acquiring an additional 17,831 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Marine Products by 3.7% in the third quarter. Geode Capital Management LLC now owns 240,735 shares of the company’s stock worth $2,333,000 after acquiring an additional 8,527 shares during the last quarter. Institutional investors and hedge funds 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.