Equity researchers at StockNews.com assumed hedging on the shares of Marine Products (NYSE: MPX – Get a rating) in a research note published Saturday. The company has placed a “holding” rating on the stock.
Seafood trades down 1.6%
Shares of MPX opened at $10.45 on Friday. The company has a market capitalization of $357.79 million, a PE ratio of 11.00 and a beta of 1.12. The stock has a 50-day moving average price of $10.14 and a 200-day moving average price of $11.14. Marine Products has a 12-month low of $8.32 and a 12-month high of $14.79.
Institutional trade in marine products
Hedge funds have recently been buying and selling shares of the company. Connors Investor Services Inc. acquired a new stake in Marine Products in Q4 worth approximately $226,000. The Florida Retirement System State Board of Directors acquired a new stake in Marine Products in Q4 valued at approximately $160,000. Polar Asset Management Partners Inc. increased its position in Marine Products by 2.7% in Q1. Polar Asset Management Partners Inc. now owns 783,105 shares of the company worth $9,045,000 after purchasing an additional 20,813 shares in the last quarter. BlackRock Inc. increased its position in Marine Products by 0.3% in Q1. BlackRock Inc. now owns 626,784 shares of the company worth $7,239,000 after purchasing an additional 2,132 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Marine Products by 3.6% in the 1st quarter. Bank of New York Mellon Corp now owns 236,232 shares of the company worth $2,729,000 after buying 8,257 additional shares in the last quarter. Institutional investors hold 13.83% of the company’s shares.
Marine Products Company Profile
Marine Products Corporation designs, manufactures and sells fiberglass recreational powerboats for the sportboat, sportfishing and jetboat 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 the OSX luxury sport boats and the SSi and SSX outboard models; and the Robalo outboard sport fishing boats.
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