Marine Products Corp. (NYSE:MPX) – B. Riley lifted their FY2018 EPS estimates for Marine Products in a research report issued to clients and investors on Wednesday, October 24th. B. Riley analyst E. Wold now anticipates that the company will earn $0.88 per share for the year, up from their previous estimate of $0.85. B. Riley has a “Neutral” rating and a $19.00 price objective on the stock. B. Riley also issued estimates for Marine Products’ Q4 2018 earnings at $0.20 EPS, Q1 2019 earnings at $0.24 EPS, Q2 2019 earnings at $0.27 EPS, Q3 2019 earnings at $0.21 EPS, Q4 2019 earnings at $0.21 EPS, FY2019 earnings at $0.93 EPS, Q1 2020 earnings at $0.26 EPS, Q3 2020 earnings at $0.23 EPS and FY2020 earnings at $1.01 EPS.
Marine Products (NYSE:MPX) last announced its quarterly earnings results on Wednesday, October 24th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. Marine Products had a return on equity of 36.05% and a net margin of 8.47%. The company had revenue of $72.01 million during the quarter, compared to analyst estimates of $67.66 million.
Shares of MPX stock opened at $20.26 on Friday. Marine Products has a 52 week low of $12.00 and a 52 week high of $24.82. The firm has a market capitalization of $802.90 million, a P/E ratio of 33.77 and a beta of 0.30.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 9th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Thursday, November 8th. Marine Products’s payout ratio is 66.67%.
Institutional investors have recently made changes to their positions in the business. Macquarie Group Ltd. lifted its position in Marine Products by 508.3% during the second quarter. Macquarie Group Ltd. now owns 7,300 shares of the company’s stock valued at $130,000 after buying an additional 6,100 shares during the period. Acadian Asset Management LLC purchased a new position in Marine Products during the second quarter valued at $203,000. Schwab Charles Investment Management Inc. lifted its position in Marine Products by 42.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 42,020 shares of the company’s stock valued at $589,000 after buying an additional 12,604 shares during the period. Renaissance Technologies LLC lifted its position in Marine Products by 8.6% during the second quarter. Renaissance Technologies LLC now owns 234,933 shares of the company’s stock valued at $4,177,000 after buying an additional 18,633 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Marine Products by 3.4% during the first quarter. Dimensional Fund Advisors LP now owns 618,119 shares of the company’s stock valued at $8,660,000 after buying an additional 20,430 shares during the period. 14.41% of the stock is owned by institutional investors and hedge funds.
Marine Products Company Profile
Marine Products Corporation designs, manufactures, and sells recreational fiberglass powerboats for the sportboat, deckboat, cruiser, jet boat, and sport fishing markets worldwide. It provides Chaparral sterndrive pleasure boats, including SSi and SSX sportboats, Sunesta sportdecks, Signature cruisers, SunCoast sportdeck outboards, Vortex Jet Boats, and Robalo outboard sport fishing boats, as well as H2O Sport, and Fish and Ski boats.
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