StockNews.com Begins Coverage on Marine Products (NYSE:MPX)

Equities research analysts at StockNews.com began 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.

Marine Products Trading Up 2.4 %

Shares of NYSE:MPX opened at $10.44 on Monday. The company has a 50 day moving average of $10.40 and a 200-day moving average of $11.01. The firm has a market cap of $357.44 million, a P/E ratio of 10.99 and a beta of 1.13. Marine Products has a twelve month low of $8.32 and a twelve month high of $14.79.

Institutional Trading of Marine Products

A number of institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA lifted its stake in shares of Marine Products by 582.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,595 shares of the company’s stock worth $53,000 after acquiring an additional 4,775 shares during the period. Rhumbline Advisers bought a new stake in shares of Marine Products in the 2nd quarter worth approximately $103,000. State Board of Administration of Florida Retirement System raised its holdings in shares of Marine Products by 38.7% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 29,555 shares of the company’s stock worth $281,000 after purchasing an additional 8,245 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of Marine Products by 6.2% in the 2nd quarter. Los Angeles Capital Management LLC now owns 25,876 shares of the company’s stock worth $246,000 after purchasing an additional 1,515 shares in the last quarter. Finally, Connors Investor Services Inc. raised its holdings in shares of Marine Products by 5.5% in the 1st quarter. Connors Investor Services Inc. now owns 19,100 shares of the company’s stock worth $221,000 after purchasing an additional 1,000 shares in the last quarter. 13.73% of the stock is owned by institutional investors and hedge funds.

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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