Marine Products Corp. (MPX) Shares Gap Up to $8.35
Marine Products Corp. (NYSE:MPX) 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.
MPX has been the subject of a number of recent research reports. Zacks Investment Research upgraded Marine Products Corp. from a “hold” rating to a “buy” rating and set a $9.25 target price for the company in a research 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 company’s 50 day moving average price is $8.83 and its 200-day moving average price is $8.13. The company has a market capitalization of $342.89 million and a price-to-earnings ratio of 21.49.
Marine Products Corp. (NYSE:MPX) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.01. The business earned $65 million during the quarter, compared to analysts’ expectations of $62.09 million. Analysts expect that Marine Products Corp. will post $0.50 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Wednesday, August 10th will be paid a dividend of $0.06 per share. The ex-dividend date is Monday, August 8th. This represents a $0.24 dividend on an annualized basis and a yield of 2.68%.
A hedge fund recently raised its stake in Marine Products Corp. stock. Dimensional Fund Advisors LP increased its position in Marine Products Corp. (NYSE:MPX) by 0.3% during the fourth quarter, according to its most recent 13F filing 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 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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