Equities Analysts Issue Forecasts for Marine Products Co.’s FY2024 Earnings (NYSE:MPX)

Marine Products Co. (NYSE:MPX) – Research analysts at DA Davidson dropped their FY2024 EPS estimates for Marine Products in a research report issued on Tuesday, April 30th. DA Davidson analyst B. Rolle now forecasts that the company will post earnings per share of $0.60 for the year, down from their prior forecast of $0.95. The consensus estimate for Marine Products’ current full-year earnings is $0.60 per share.

Marine Products Stock Up 0.7 %

NYSE MPX opened at $11.46 on Thursday. Marine Products has a 12-month low of $9.18 and a 12-month high of $17.81. The company has a market capitalization of $397.43 million, a PE ratio of 11.35 and a beta of 1.26. The firm’s 50 day moving average is $11.02 and its 200-day moving average is $10.84.

Hedge Funds Weigh In On Marine Products

Institutional investors have recently added to or reduced their stakes in the company. Barclays PLC increased its holdings in Marine Products by 161.1% during the third quarter. Barclays PLC now owns 6,076 shares of the company’s stock worth $86,000 after buying an additional 3,749 shares during the last quarter. Victory Capital Management Inc. acquired a new position in shares of Marine Products in the fourth quarter valued at about $72,000. Quadrature Capital Ltd bought a new position in Marine Products during the third quarter worth about $170,000. Teacher Retirement System of Texas bought a new stake in Marine Products in the 4th quarter valued at about $155,000. Finally, Triumph Capital Management bought a new stake in Marine Products in the 4th quarter valued at about $155,000. 13.86% of the stock is currently owned by institutional investors and hedge funds.

Marine Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.89%. Marine Products’s dividend payout ratio (DPR) is presently 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.