Marine Products Corp. (MPX) Sets New 52-Week High at $9.38
Marine Products Corp. (NYSE:MPX) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $9.38 and last traded at $8.78, with a volume of 23,027 shares traded. The stock had previously closed at $9.27.
Several research firms recently commented on MPX. 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 research note on Friday, April 22nd. B. Riley cut Marine Products Corp. to a “neutral” rating and set a $9.00 price target on the stock. in a research note on Tuesday, May 3rd.
The firm has a market cap of $347.64 million and a price-to-earnings ratio of 22.15. The company has a 50-day moving average of $8.57 and a 200-day moving average of $7.70.
Marine Products Corp. (NYSE:MPX) last released its earnings results on Wednesday, April 27th. The company reported $0.10 earnings per share (EPS) for the quarter, meeting 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, equities analysts forecast that Marine Products Corp. will post $0.46 EPS for the current year.
An institutional investor recently raised its position in Marine Products Corp. stock. Dimensional Fund Advisors LP raised its position in shares of 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 institutional investor 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 reporting period.
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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