Bank of New York Mellon Corp Reduces Holdings in Marine Products Co. (NYSE:MPX)

Bank of New York Mellon Corp decreased its position in shares of Marine Products Co. (NYSE:MPX) by 19.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 252,233 shares of the company’s stock after selling 59,810 shares during the quarter. Bank of New York Mellon Corp’s holdings in Marine Products were worth $2,313,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. FMR LLC grew its holdings in shares of Marine Products by 198.2% during the third quarter. FMR LLC now owns 8,353 shares of the company’s stock worth $81,000 after purchasing an additional 5,552 shares during the last quarter. Barclays PLC grew its holdings in shares of Marine Products by 173.0% during the third quarter. Barclays PLC now owns 12,050 shares of the company’s stock worth $116,000 after purchasing an additional 7,636 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Marine Products by 10.6% during the fourth quarter. Rhumbline Advisers now owns 12,923 shares of the company’s stock worth $118,000 after buying an additional 1,236 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Marine Products by 661.6% during the third quarter. BNP Paribas Financial Markets now owns 20,526 shares of the company’s stock worth $199,000 after buying an additional 17,831 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Marine Products by 3.7% during the third quarter. Geode Capital Management LLC now owns 240,735 shares of the company’s stock worth $2,333,000 after buying an additional 8,527 shares during the period. Hedge funds and other institutional investors own 13.86% of the company’s stock.

Marine Products Stock Performance

Shares of MPX opened at $8.26 on Friday. Marine Products Co. has a fifty-two week low of $8.10 and a fifty-two week high of $12.47. The company has a market capitalization of $288.60 million, a price-to-earnings ratio of 16.85 and a beta of 1.24. The firm has a 50-day simple moving average of $8.83 and a 200-day simple moving average of $9.29.

Marine Products (NYSE:MPX) last announced its earnings results on Thursday, January 30th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.07. Marine Products had a net margin of 7.55% and a return on equity of 13.08%. Equities research analysts forecast that Marine Products Co. will post 0.4 EPS for the current year.

Marine Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a $0.14 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.56 dividend on an annualized basis and a yield of 6.78%. Marine Products’s payout ratio is currently 114.29%.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Marine Products from a “hold” rating to a “buy” rating in a research note on Friday, January 31st.

About Marine Products

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.