Marine Products (NYSE:MPX) Price Target Cut to $8.00 by Analysts at B. Riley

Marine Products (NYSE:MPX) had its price target decreased by B. Riley from $14.00 to $8.00 in a report published on Monday, BenzingaRatingsTable reports. B. Riley currently has a neutral rating on the stock. B. Riley also issued estimates for Marine Products’ Q2 2020 earnings at $0.18 EPS, Q3 2020 earnings at $0.14 EPS, Q4 2020 earnings at $0.07 EPS, FY2020 earnings at $0.61 EPS, Q1 2021 earnings at $0.17 EPS, Q2 2021 earnings at $0.17 EPS, Q3 2021 earnings at $0.12 EPS, Q4 2021 earnings at $0.06 EPS and FY2021 earnings at $0.51 EPS.

Several other analysts also recently weighed in on MPX. ValuEngine upgraded Marine Products from a sell rating to a hold rating in a research report on Friday, February 21st. Zacks Investment Research upgraded Marine Products from a sell rating to a hold rating in a research report on Tuesday, March 17th.

MPX traded up $1.02 during trading on Monday, reaching $9.51. The company had a trading volume of 34,992 shares, compared to its average volume of 21,935. Marine Products has a 52 week low of $6.77 and a 52 week high of $18.43. The stock has a market cap of $290.49 million, a P/E ratio of 11.60 and a beta of 0.60. The business has a 50 day simple moving average of $12.12 and a 200-day simple moving average of $13.91.

Marine Products (NYSE:MPX) last released its earnings results on Wednesday, January 29th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.02). Marine Products had a return on equity of 36.13% and a net margin of 9.67%. The business had revenue of $48.18 million for the quarter, compared to the consensus estimate of $60.08 million. On average, equities research analysts expect that Marine Products will post 0.87 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Monday, February 10th were given a dividend of $0.12 per share. The ex-dividend date was Friday, February 7th. This represents a $0.48 annualized dividend and a dividend yield of 5.05%. Marine Products’s dividend payout ratio (DPR) is 57.83%.

Several large investors have recently added to or reduced their stakes in MPX. State Street Corp increased its stake in shares of Marine Products by 2.7% during the fourth quarter. State Street Corp now owns 154,071 shares of the company’s stock valued at $2,219,000 after buying an additional 4,037 shares during the period. Geode Capital Management LLC increased its stake in shares of Marine Products by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 94,125 shares of the company’s stock valued at $1,355,000 after buying an additional 1,592 shares during the period. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Marine Products during the first quarter valued at $884,000. Denali Advisors LLC increased its stake in shares of Marine Products by 42.6% during the fourth quarter. Denali Advisors LLC now owns 46,502 shares of the company’s stock valued at $670,000 after buying an additional 13,900 shares during the period. Finally, Zebra Capital Management LLC increased its stake in shares of Marine Products by 15.2% during the fourth quarter. Zebra Capital Management LLC now owns 17,649 shares of the company’s stock valued at $254,000 after buying an additional 2,327 shares during the period. Institutional investors and hedge funds own 13.93% of the company’s stock.

Marine Products Company Profile

Marine Products Corporation designs, manufactures, and sells recreational fiberglass powerboats for the sportboat, deckboat, cruiser, jet boat, and sport fishing markets worldwide. The company provides Chaparral sterndrive pleasure boats, including SSi and SSX sportboats, Sunesta sportdecks, Signature cruisers, SunCoast sportdeck outboards, Vortex jet boats and the Surf Series, and Robalo outboard sport fishing boats, as well as H2O Sport, and Fish and Ski boats.

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