According to Zacks, “MARINE PRODUCTS is the third-largest distributor of sterndrive powerboats in the U.S. The company designs, manufactures and distributes premium-branded Chaparral sterndrive pleasure boats and Robalo outboard offshore fishing boats, and continues to diversify its product line through product innovation and strategic acquisition. With premium brands and a solid capital structure, Marine Products Corporation is prepared to capitalize on opportunities to increase its market share and to generate superior financial performance to build long-term shareholder value. “
Separately, B. Riley restated a neutral rating and issued a $10.00 target price on shares of Marine Products Corp. in a research report on Tuesday, August 2nd.
Marine Products Corp. (NYSE:MPX) traded up 0.11% on Wednesday, hitting $8.96. The company’s stock had a trading volume of 5,685 shares. Marine Products Corp. has a 1-year low of $4.92 and a 1-year high of $9.38. The company has a market capitalization of $343.66 million, a P/E ratio of 21.54 and a beta of 1.88. The company has a 50 day moving average price of $8.87 and a 200-day moving average price of $8.45.
Marine Products Corp. (NYSE:MPX) last issued its earnings results on Wednesday, July 27th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.14 by $0.01. The firm earned $65 million during the quarter, compared to analyst estimates of $62.09 million. Marine Products Corp. had a net margin of 6.95% and a return on equity of 17.09%. On average, equities analysts forecast that Marine Products Corp. will post $0.50 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Wednesday, August 10th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date was Monday, August 8th. Marine Products Corp.’s dividend payout ratio is 58.54%.
A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Institutional Trust Company N.A. boosted its position in Marine Products Corp. by 1.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 417,412 shares of the company’s stock worth $3,531,000 after buying an additional 4,837 shares in the last quarter. BlackRock Fund Advisors boosted its position in Marine Products Corp. by 3.3% in the second quarter. BlackRock Fund Advisors now owns 288,202 shares of the company’s stock worth $2,438,000 after buying an additional 9,162 shares in the last quarter. Geode Capital Management LLC boosted its position in Marine Products Corp. by 4.4% in the first quarter. Geode Capital Management LLC now owns 45,247 shares of the company’s stock worth $343,000 after buying an additional 1,905 shares in the last quarter. BlackRock Investment Management LLC boosted its position in Marine Products Corp. by 1.7% in the second quarter. BlackRock Investment Management LLC now owns 38,794 shares of the company’s stock worth $328,000 after buying an additional 642 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in Marine Products Corp. by 1.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 33,704 shares of the company’s stock worth $286,000 after buying an additional 630 shares in the last quarter. Institutional investors and hedge funds own 20.29% of the company’s stock.
About Marine Products Corp.
Marine Products Corporation (MPC) is engaged in manufacturing powerboats and providing related products and services. The Company manufactures fiberglass motorized boats distributed and marketed through its independent dealer network. The Company operates in Powerboat Manufacturing business segment. The Company’s product offerings include Chaparral sterndrive, outboard and jet pleasure boats, and Robalo outboard sport fishing boats.
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