Shares of Marine Products Corp. (NYSE:MPX) hit a new 52-week high during trading on Wednesday . The company traded as high as $9.08 and last traded at $9.01, with a volume of 15,538 shares traded. The stock had previously closed at $8.94.

MPX has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Marine Products Corp. from a “hold” rating to a “buy” rating and set a $9.25 price target on the stock in a report on Friday, April 22nd. B. Riley downgraded Marine Products Corp. to a “neutral” rating and set a $9.00 target price for the company. in a research report on Tuesday, May 3rd.

The stock has a 50 day moving average price of $8.50 and a 200-day moving average price of $7.60. The stock has a market capitalization of $345.72 million and a price-to-earnings ratio of 22.03.

Marine Products Corp. (NYSE:MPX) last issued its quarterly earnings results on Wednesday, April 27th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.10. The business earned $63.67 million during the quarter, compared to analysts’ expectations of $53.69 million. On average, analysts predict that Marine Products Corp. will post $0.46 EPS for the current fiscal year.

A hedge fund recently raised its stake in Marine Products Corp. stock. Dimensional Fund Advisors LP raised its position in Marine Products Corp. (NYSE:MPX) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 898,874 shares of the company’s stock after buying an additional 3,042 shares during the period. Dimensional Fund Advisors LP owned approximately 2.44% of Marine Products Corp. worth $5,429,000 at the end of the most recent quarter.

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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