Brokers Set Expectations for Marine Products Co.’s Q2 2024 Earnings (NYSE:MPX)

Marine Products Co. (NYSE:MPX) – Analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for Marine Products in a report issued on Tuesday, April 30th. DA Davidson analyst B. Rolle expects that the company will post earnings per share of $0.14 for the quarter. The consensus estimate for Marine Products’ current full-year earnings is $0.95 per share. DA Davidson also issued estimates for Marine Products’ FY2025 earnings at $0.75 EPS.

Marine Products Trading Down 5.5 %

Shares of NYSE:MPX opened at $10.75 on Wednesday. The company has a market capitalization of $372.81 million, a price-to-earnings ratio of 10.64 and a beta of 1.26. Marine Products has a 12-month low of $9.18 and a 12-month high of $17.81. The business has a 50-day moving average price of $10.97 and a 200 day moving average price of $10.85.

Institutional Investors Weigh In On Marine Products

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

Marine Products Announces Dividend

The business 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 of this dividend is Thursday, May 9th. This represents a $0.56 annualized dividend and a yield of 5.21%. 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.