FY2024 EPS Estimates for Marine Products Co. (NYSE:MPX) Cut by Analyst

Marine Products Co. (NYSE:MPX) – Stock analysts at DA Davidson cut their FY2024 EPS estimates for Marine Products in a report released on Tuesday, April 30th. DA Davidson analyst B. Rolle now anticipates that the company will earn $0.60 per share for the year, down from their previous estimate of $0.95. The consensus estimate for Marine Products’ current full-year earnings is $0.95 per share.

Marine Products Trading Up 3.4 %

Shares of NYSE MPX opened at $11.12 on Thursday. The firm’s 50-day moving average price is $10.98 and its 200-day moving average price is $10.85. Marine Products has a 1-year low of $9.18 and a 1-year high of $17.81. The firm has a market capitalization of $385.64 million, a P/E ratio of 11.01 and a beta of 1.26.

Marine Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be issued a $0.14 dividend. The ex-dividend date is Thursday, May 9th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.04%. Marine Products’s dividend payout ratio is presently 55.45%.

Institutional Investors Weigh In On Marine Products

A number of institutional investors and hedge funds have recently made changes to their positions in MPX. Strs Ohio raised its holdings in shares of Marine Products by 19.5% in the 3rd quarter. Strs Ohio now owns 37,400 shares of the company’s stock worth $531,000 after acquiring an additional 6,100 shares during the last quarter. Barclays PLC raised its holdings in shares of Marine Products by 161.1% in the 3rd quarter. Barclays PLC now owns 6,076 shares of the company’s stock worth $86,000 after acquiring an additional 3,749 shares during the last quarter. Swiss National Bank acquired a new stake in shares of Marine Products in the 3rd quarter worth about $323,000. Janney Montgomery Scott LLC bought a new stake in Marine Products in the 3rd quarter worth about $367,000. Finally, Acadian Asset Management LLC grew its position in Marine Products by 7.8% in the 3rd quarter. Acadian Asset Management LLC now owns 52,598 shares of the company’s stock worth $745,000 after purchasing an additional 3,803 shares in the last quarter. Institutional investors and hedge funds own 13.86% of the company’s stock.

About Marine Products

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.