Marine Products (NYSE:MPX) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Marine Products (NYSE:MPXGet Rating) in a note issued to investors on Monday. The firm set a “hold” rating on the stock.

MPX stock opened at $11.00 on Monday. The stock has a market capitalization of $375.56 million, a PE ratio of 13.25 and a beta of 1.07. The company’s 50-day moving average is $11.77 and its 200-day moving average is $11.98. Marine Products has a 1 year low of $10.11 and a 1 year high of $18.74.

Marine Products (NYSE:MPXGet Rating) last released its quarterly earnings data on Wednesday, April 27th. The company reported $0.21 earnings per share (EPS) for the quarter. The company had revenue of $76.61 million for the quarter. Marine Products had a net margin of 9.45% and a return on equity of 29.07%.

Hedge funds have recently added to or reduced their stakes in the company. Polar Asset Management Partners Inc. raised its holdings in shares of Marine Products by 2.7% in the 1st quarter. Polar Asset Management Partners Inc. now owns 783,105 shares of the company’s stock worth $9,045,000 after acquiring an additional 20,813 shares during the last quarter. Morgan Stanley raised its holdings in shares of Marine Products by 228.9% in the 3rd quarter. Morgan Stanley now owns 690,924 shares of the company’s stock worth $8,644,000 after acquiring an additional 480,843 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Marine Products by 0.3% in the 1st quarter. BlackRock Inc. now owns 626,784 shares of the company’s stock worth $7,239,000 after acquiring an additional 2,132 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Marine Products by 3.6% in the 1st quarter. Bank of New York Mellon Corp now owns 236,232 shares of the company’s stock worth $2,729,000 after acquiring an additional 8,257 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Marine Products in the 1st quarter worth about $884,000. 13.83% of the stock is currently owned by institutional investors.

About Marine Products (Get Rating)

Marine Products Corporation designs, manufactures, and sells recreational fiberglass powerboats for the sportboat, sport fishing, and jet 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 and SSX outboard models; and Robalo outboard sport fishing boats.

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