Marine Products (NYSE:MPX) Raised to “Hold” at Wall Street Zen

Marine Products (NYSE:MPX) was upgraded by investment analysts at Wall Street Zen to a “hold” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Marine Products in a research report on Monday, December 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Marine Products Trading Down 2.1%

Shares of NYSE MPX opened at $8.91 on Friday. Marine Products has a 12-month low of $7.49 and a 12-month high of $10.08. The firm’s 50-day moving average price is $8.65 and its 200-day moving average price is $8.73. The stock has a market capitalization of $311.71 million, a price-to-earnings ratio of 24.07 and a beta of 1.06.

Marine Products (NYSE:MPX) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.03). Marine Products had a return on equity of 10.44% and a net margin of 5.84%.The company had revenue of $53.15 million during the quarter, compared to analysts’ expectations of $54.80 million. On average, equities analysts predict that Marine Products will post 0.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Marine Products in the 2nd quarter worth $26,000. Strs Ohio purchased a new stake in shares of Marine Products in the 1st quarter valued at $77,000. Corient Private Wealth LLC acquired a new stake in shares of Marine Products in the second quarter worth $85,000. Kapitalo Investimentos Ltda purchased a new position in shares of Marine Products during the second quarter worth $112,000. Finally, Rhumbline Advisers raised its stake in shares of Marine Products by 66.6% during the 1st quarter. Rhumbline Advisers now owns 21,525 shares of the company’s stock valued at $181,000 after buying an additional 8,602 shares during the last quarter. 13.86% of the stock is owned by institutional investors.

About Marine Products

Marine Products Corporation, headquartered in Sparta, Michigan, designs and manufactures inflatable and rigid-hulled inflatable boats (RIBs) for recreational, commercial and governmental customers. Established in 1954, the company leverages decades of engineering expertise to deliver vessels for applications such as law enforcement, search and rescue, military operations, offshore support and luxury yacht tenders.

The firm’s product lineup includes a variety of RIBs and inflatables constructed from advanced composite hulls and high-performance fabrics.