Marine Products Corp. (MPX) Shares Gap Up to $8.35
Marine Products Corp. (NYSE:MPX)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $8.10, but opened at $8.35. Marine Products Corp. shares last traded at $8.88, with a volume of 22,402 shares trading hands.
A number of equities analysts recently commented on the company. B. Riley restated a “neutral” rating and set a $10.00 target price on shares of Marine Products Corp. in a report on Tuesday, August 2nd. Zacks Investment Research upgraded Marine Products Corp. from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a report on Saturday, July 30th.
The firm has a 50 day moving average of $8.82 and a 200 day moving average of $8.12. The stock has a market cap of $342.13 million and a P/E ratio of 21.44.
Marine Products Corp. (NYSE:MPX) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by $0.01. The business earned $65 million during the quarter, compared to analyst estimates of $62.09 million. Equities analysts predict that Marine Products Corp. will post $0.50 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Wednesday, August 10th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Monday, August 8th.
An institutional investor recently raised its position in Marine Products Corp. stock. Dimensional Fund Advisors LP boosted its stake in shares of Marine Products Corp. (NYSE:MPX) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the 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 2.44% of Marine Products Corp. worth $5,429,000 as of its most recent filing with the SEC.
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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