Shares of Marine Products Corporation (NYSE:MPX - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.63 and traded as high as $9.00. Marine Products shares last traded at $8.94, with a volume of 40,158 shares trading hands.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Marine Products in a report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of "Hold".
Read Our Latest Stock Analysis on Marine Products
Marine Products Stock Performance
The firm has a 50 day simple moving average of $8.91 and a two-hundred day simple moving average of $8.63. The stock has a market cap of $312.90 million, a P/E ratio of 22.35 and a beta of 0.95.
Marine Products (NYSE:MPX - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $0.12 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.12. Marine Products had a return on equity of 10.98% and a net margin of 6.26%.The company had revenue of $67.70 million during the quarter, compared to analysts' expectations of $67.80 million. As a group, equities research analysts predict that Marine Products Corporation will post 0.4 EPS for the current year.
Institutional Trading of Marine Products
Institutional investors have recently made changes to their positions in the stock. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Marine Products during the second quarter valued at approximately $26,000. Strs Ohio bought a new position in Marine Products during the 1st quarter valued at $77,000. Corient Private Wealth LLC bought a new position in Marine Products during the 2nd quarter valued at $85,000. Summit Financial Strategies Inc. acquired a new position in shares of Marine Products during the 1st quarter valued at $92,000. Finally, Burney Co. bought a new stake in shares of Marine Products in the 1st quarter worth $108,000. 13.86% of the stock is owned by institutional investors and hedge funds.
About Marine Products
(
Get Free Report)
Marine Products Corporation designs, manufactures, and sells recreational fiberglass powerboats for the sport boat and sport fishing 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 outboard models; and Robalo outboard sport fishing boats.
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