Marine Products Rating Upgraded to Buy

On January 1, 2025, StockNews.com announced an upgrade for Marine Products (NYSE:MPX), elevating the company's rating from a hold to a buy in a recent research note.

Marine Products Shares Experience Growth

On the same day, shares of Marine Products opened at $9.17, reflecting a 2% increase. The company has a market capitalization of approximately $318.32 million, with a price-to-earnings ratio of 17.30 and a beta of 1.22. The stock has a 50-day moving average of $9.62 and a 200-day moving average of $9.65, with a 1-year low of $8.86 and a high of $12.47.

Quarterly Earnings Report

Marine Products released its quarterly earnings results on October 24. The company reported earnings of $0.10 per share, surpassing the consensus estimate of $0.08 by $0.02. The company achieved a net margin of 7.32% and a return on equity of 13.55%, with revenues reaching $49.85 million for the quarter. Comparatively, in the same quarter last year, the earnings per share were $0.30. Analysts are forecasting an average earnings per share of $0.40 for the current year.

Dividend Declaration

Recently, Marine Products declared a quarterly dividend of $0.14 per share, which was paid on December 10, 2024. Shareholders on record as of November 11 received this dividend, with an ex-dividend date set for November 8. This results in an annualized dividend of $0.56, equating to a yield of 6.11%. The dividend payout ratio for Marine Products stands at 105.66%.

Institutional Investments in Marine Products

Recently, various hedge funds and institutional investors have adjusted their holdings in Marine Products. For instance, Dimensional Fund Advisors LP increased its position by 1.5% during the second quarter, now owning 650,433 shares valued at $6.57 million after acquiring an additional 9,680 shares. De Lisle Partners LLP experienced a substantial 44.8% increase in their holdings during the third quarter, owning 297,992 shares valued at $2.90 million, following the purchase of 92,181 additional shares. Other investors like Geode Capital Management LLC and BNP Paribas Financial Markets have also raised their stakes substantially, highlighting a growing institutional interest, with 13.86% of the stock being held by institutional investors.

About Marine Products

Marine Products Corporation specializes in designing, manufacturing, and selling recreational fiberglass powerboats relevant to the sport boat and sport fishing boat sectors globally. The company’s product line includes Chaparral sterndrive pleasure boats (SSi and SSX models), Chaparral outboard pleasure boats (OSX Luxury Sportboats and SSi outboard models), and Robalo outboard sport fishing boats.

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