4 Weeks Ago – Marine Products Corp (MPX)
About a month ago our very first company of the week was Marine Products Corp (MPX). In our article, we highlighted the fact that the company’s total revenue has doubled since 2001, net income has tripled in the same time frame, the company’s lack of long-term debt, and other fundamental features about the company. We also noted that the company was trading at a low PE ratio, relatively low price to book ratio, and had a moderate dividend yield. We stated our price target for the next few years to be $11.58. The price on 8/7 when we published our article was $8.49.
Since that day, the company’s stock price has risen to a high of $9.10 on 8/17, but has come back down to its current price around $8.73. This represents a gain of 2.8% over the month – versus a 1.9% gain over the period by the S&P 500.
There has not been any significant news about the company since we last wrote about it. We reaffirm our belief that this company may be suitable for the enterprising intelligent investor following Benjamin Graham’s value investing strategy.
Neither of us held a position in Marine Products Corp (MPX) at the time of publication.