Marine Products (NYSE:MPX) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Marine Products (NYSE:MPXGet Rating) in a report released on Friday. The brokerage set a “hold” rating on the stock.

MPX stock opened at $11.38 on Friday. The stock has a market cap of $388.54 million, a P/E ratio of 13.71 and a beta of 1.07. The firm has a 50 day simple moving average of $12.18 and a 200 day simple moving average of $12.21. Marine Products has a 52 week low of $10.81 and a 52 week high of $18.74.

Several large investors have recently added to or reduced their stakes in MPX. Morgan Stanley raised its position in shares of Marine Products by 228.9% in the third quarter. Morgan Stanley now owns 690,924 shares of the company’s stock valued at $8,644,000 after purchasing an additional 480,843 shares during the period. Amundi Pioneer Asset Management Inc. bought a new position in Marine Products during the first quarter worth $884,000. Polar Asset Management Partners Inc. bought a new position in Marine Products during the third quarter worth $796,000. Millennium Management LLC bought a new position in Marine Products during the third quarter worth $635,000. Finally, Two Sigma Investments LP bought a new position in Marine Products during the third quarter worth $263,000. 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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