Marine Products (NYSE:MPX) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Marine Products (NYSE:MPX – Get Rating) in a research report issued to clients and investors on Tuesday. The brokerage set a “hold” rating on the stock.

Shares of MPX stock opened at $13.00 on Tuesday. The company has a market cap of $443.90 million, a P/E ratio of 15.12 and a beta of 1.16. The stock’s 50-day moving average is $12.16 and its 200 day moving average is $12.27. Marine Products has a 1-year low of $10.81 and a 1-year high of $18.74.

Marine Products (NYSE:MPX – Get Rating) last issued its quarterly earnings results on Wednesday, January 26th. The company reported $0.25 earnings per share for the quarter. The business had revenue of $76.54 million during the quarter. Marine Products had a return on equity of 31.17% and a net margin of 9.74%.

Several institutional investors have recently added to or reduced their stakes in MPX. Citigroup Inc. lifted its holdings in shares of Marine Products by 76.9% during the fourth quarter. Citigroup Inc. now owns 2,118 shares of the company’s stock worth $26,000 after purchasing an additional 921 shares during the period. Advisor Group Holdings Inc. lifted its holdings in shares of Marine Products by 15,000.0% during the fourth quarter. Advisor Group Holdings Inc. now owns 3,020 shares of the company’s stock worth $38,000 after purchasing an additional 3,000 shares during the period. Barclays PLC lifted its holdings in shares of Marine Products by 262.6% during the third quarter. Barclays PLC now owns 3,847 shares of the company’s stock worth $48,000 after purchasing an additional 2,786 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Marine Products by 215.0% during the fourth quarter. Wells Fargo & Company MN now owns 5,037 shares of the company’s stock worth $62,000 after purchasing an additional 3,438 shares during the period. Finally, Penn Mutual Asset Management LLC acquired a new stake in shares of Marine Products during the third quarter worth about $67,000. 14.04% of the stock is owned by hedge funds and other institutional investors.

Marine Products Company Profile (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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