DA Davidson Comments on Marine Products Co.’s Q3 2024 Earnings (NYSE:MPX)

Marine Products Co. (NYSE:MPX) – Analysts at DA Davidson issued their Q3 2024 earnings per share estimates for Marine Products in a research report issued on Monday, August 12th. DA Davidson analyst B. Rolle expects that the company will earn $0.08 per share for the quarter. DA Davidson has a “Neutral” rating and a $8.00 price objective on the stock. The consensus estimate for Marine Products’ current full-year earnings is $0.60 per share. DA Davidson also issued estimates for Marine Products’ FY2024 earnings at $0.40 EPS and FY2025 earnings at $0.50 EPS.

Marine Products (NYSE:MPX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.14. The business had revenue of $69.55 million for the quarter. Marine Products had a return on equity of 17.86% and a net margin of 9.04%. During the same quarter in the previous year, the business posted $0.42 earnings per share.

Marine Products Trading Up 4.6 %

Shares of NYSE MPX opened at $9.27 on Wednesday. The stock has a market cap of $321.51 million, a P/E ratio of 9.18 and a beta of 1.24. Marine Products has a 12-month low of $8.86 and a 12-month high of $16.85. The business’s fifty day simple moving average is $9.94 and its 200-day simple moving average is $10.52.

Institutional Trading of Marine Products

Several hedge funds have recently modified their holdings of the stock. Connors Investor Services Inc. raised its stake in shares of Marine Products by 10.0% in the first quarter. Connors Investor Services Inc. now owns 11,000 shares of the company’s stock valued at $129,000 after acquiring an additional 1,000 shares in the last quarter. GSA Capital Partners LLP increased its holdings in Marine Products by 3.2% in the first quarter. GSA Capital Partners LLP now owns 41,949 shares of the company’s stock valued at $493,000 after buying an additional 1,299 shares during the last quarter. Gamco Investors INC. ET AL increased its holdings in Marine Products by 0.3% in the first quarter. Gamco Investors INC. ET AL now owns 520,762 shares of the company’s stock valued at $6,119,000 after buying an additional 1,547 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Marine Products by 21,775.0% in the second quarter. Nisa Investment Advisors LLC now owns 2,625 shares of the company’s stock valued at $27,000 after buying an additional 2,613 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in Marine Products by 10.2% in the first quarter. Janney Montgomery Scott LLC now owns 33,415 shares of the company’s stock valued at $393,000 after buying an additional 3,104 shares during the last quarter. 13.86% of the stock is currently owned by institutional investors and hedge funds.

Marine Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 6.04%. The ex-dividend date is Friday, August 9th. Marine Products’s payout ratio is currently 55.45%.

Marine Products Company Profile

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.