Marine Products (NYSE:MPX) Given a $15.00 Price Target by B. Riley Analysts

B. Riley set a $15.00 price target on Marine Products (NYSE:MPX) in a research note published on Wednesday, April 17th, TipRanks reports. The firm currently has a hold rating on the stock.

MPX has been the subject of a number of other research reports. Zacks Investment Research raised shares of Marine Products from a hold rating to a buy rating and set a $21.00 price target for the company in a report on Saturday, January 12th. ValuEngine raised shares of Marine Products from a sell rating to a hold rating in a report on Monday, April 1st.

Shares of NYSE MPX traded down $0.20 during mid-day trading on Wednesday, hitting $14.90. 229 shares of the stock were exchanged, compared to its average volume of 42,038. The firm has a market cap of $516.27 million, a price-to-earnings ratio of 17.95 and a beta of 0.41. Marine Products has a twelve month low of $12.48 and a twelve month high of $24.82.

Marine Products (NYSE:MPX) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.05. The company had revenue of $83.05 million during the quarter, compared to analyst estimates of $73.18 million. Marine Products had a net margin of 9.32% and a return on equity of 36.92%. Research analysts expect that Marine Products will post 0.81 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.48 dividend on an annualized basis and a yield of 3.22%. Marine Products’s payout ratio is presently 57.83%.

A number of hedge funds have recently made changes to their positions in MPX. Dimensional Fund Advisors LP boosted its stake in Marine Products by 4.3% in the first quarter. Dimensional Fund Advisors LP now owns 686,047 shares of the company’s stock valued at $9,241,000 after acquiring an additional 28,412 shares during the last quarter. BlackRock Inc. lifted its position in Marine Products by 4.7% in the fourth quarter. BlackRock Inc. now owns 573,276 shares of the company’s stock worth $9,695,000 after buying an additional 25,861 shares during the last quarter. Raymond James & Associates bought a new stake in Marine Products in the fourth quarter worth $325,000. Denali Advisors LLC lifted its position in shares of Marine Products by 4,129.5% during the first quarter. Denali Advisors LLC now owns 12,181 shares of the company’s stock worth $164,000 after purchasing an additional 11,893 shares during the last quarter. Finally, Rhumbline Advisers bought a new stake in shares of Marine Products during the fourth quarter worth $193,000. 14.63% of the stock is currently owned by hedge funds and other institutional investors.

About Marine Products

Marine Products Corporation designs, manufactures, and sells recreational fiberglass powerboats for the sportboat, deckboat, cruiser, jet boat, and sport fishing markets worldwide. The company provides Chaparral sterndrive pleasure boats, including SSi and SSX sportboats, Sunesta sportdecks, Signature cruisers, SunCoast sportdeck outboards, Vortex jet boats and the Surf Series, and Robalo outboard sport fishing boats, as well as H2O Sport, and Fish and Ski boats.

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