Marine Products Co. (NYSE:MPX) Shares Sold by State Street Corp

State Street Corp trimmed its stake in shares of Marine Products Co. (NYSE:MPX) by 3.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 178,958 shares of the company’s stock after selling 7,172 shares during the quarter. State Street Corp’s holdings in Marine Products were worth $1,734,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of Marine Products by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 650,433 shares of the company’s stock worth $6,569,000 after purchasing an additional 9,680 shares during the last quarter. FMR LLC grew its position in Marine Products by 198.2% in the 3rd quarter. FMR LLC now owns 8,353 shares of the company’s stock valued at $81,000 after buying an additional 5,552 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Marine Products by 661.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 20,526 shares of the company’s stock valued at $199,000 after buying an additional 17,831 shares during the period. Finally, De Lisle Partners LLP raised its position in Marine Products by 44.8% during the 3rd quarter. De Lisle Partners LLP now owns 297,992 shares of the company’s stock worth $2,901,000 after buying an additional 92,181 shares during the last quarter. 13.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Marine Products from a “hold” rating to a “buy” rating in a research note on Tuesday.

Marine Products Price Performance

MPX opened at $9.17 on Thursday. Marine Products Co. has a 12 month low of $8.86 and a 12 month high of $12.47. The stock has a market capitalization of $318.32 million, a P/E ratio of 17.30 and a beta of 1.22. The business has a 50 day simple moving average of $9.61 and a 200-day simple moving average of $9.65.

Marine Products (NYSE:MPX) last released its earnings results on Thursday, October 24th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. Marine Products had a return on equity of 13.55% and a net margin of 7.32%. The company had revenue of $49.85 million during the quarter. During the same period last year, the business posted $0.30 EPS. Research analysts anticipate that Marine Products Co. will post 0.4 EPS for the current year.

Marine Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 11th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 6.11%. The ex-dividend date of this dividend was Friday, November 8th. Marine Products’s dividend payout ratio is currently 105.66%.

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.