Marine Products (NYSE:MPX) Stock Rating Lowered by StockNews.com

Marine Products (NYSE:MPX) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Marine Products Trading Down 0.1 %

MPX stock opened at $9.02 on Wednesday. The company has a market capitalization of $313.11 million, a P/E ratio of 17.02 and a beta of 1.23. The firm has a 50 day simple moving average of $9.57 and a 200-day simple moving average of $9.61. Marine Products has a twelve month low of $8.86 and a twelve month high of $12.47.

Marine Products (NYSE:MPX) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The firm had revenue of $49.85 million during the quarter. Marine Products had a net margin of 7.32% and a return on equity of 13.55%. During the same period in the prior year, the firm earned $0.30 EPS. On average, research analysts predict that Marine Products will post 0.4 EPS for the current year.

Institutional Trading of Marine Products

A number of institutional investors have recently made changes to their positions in the stock. FMR LLC grew its holdings in Marine Products by 198.2% during the third quarter. FMR LLC now owns 8,353 shares of the company’s stock worth $81,000 after acquiring an additional 5,552 shares during the period. Barclays PLC raised its holdings in shares of Marine Products by 173.0% in the 3rd quarter. Barclays PLC now owns 12,050 shares of the company’s stock worth $116,000 after purchasing an additional 7,636 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Marine Products by 661.6% during the third quarter. BNP Paribas Financial Markets now owns 20,526 shares of the company’s stock worth $199,000 after buying an additional 17,831 shares in the last quarter. Geode Capital Management LLC grew its position in Marine Products by 3.7% in the third quarter. Geode Capital Management LLC now owns 240,735 shares of the company’s stock worth $2,333,000 after buying an additional 8,527 shares during the last quarter. Finally, De Lisle Partners LLP grew its position in Marine Products by 44.8% in the third quarter. De Lisle Partners LLP now owns 297,992 shares of the company’s stock worth $2,901,000 after buying an additional 92,181 shares during the last quarter. 13.86% of the stock is owned by institutional investors and hedge funds.

About Marine Products

Marine Products Corporation designs, manufactures, and sells recreational fiberglass powerboats for the sport boat and sport fishing boat markets worldwide. The company offers Chaparral sterndrive pleasure boats, including SSi Sport Boats, SSX Sport Boats, and the Surf Series; Chaparral outboard pleasure boats, which include OSX Luxury Sportboats and SSi outboard models; and Robalo outboard sport fishing boats.