Rhumbline Advisers Acquires 8,602 Shares of Marine Products Corporation (NYSE:MPX)

Rhumbline Advisers raised its holdings in Marine Products Corporation (NYSE:MPX) by 66.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,525 shares of the company’s stock after buying an additional 8,602 shares during the period. Rhumbline Advisers owned about 0.06% of Marine Products worth $181,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Gamco Investors INC. ET AL raised its stake in Marine Products by 0.3% in the fourth quarter. Gamco Investors INC. ET AL now owns 514,007 shares of the company’s stock valued at $4,713,000 after buying an additional 1,398 shares during the period. Barclays PLC grew its position in shares of Marine Products by 12.2% in the fourth quarter. Barclays PLC now owns 13,524 shares of the company’s stock valued at $124,000 after purchasing an additional 1,474 shares during the last quarter. Bank of America Corp DE grew its position in shares of Marine Products by 19.4% in the fourth quarter. Bank of America Corp DE now owns 14,277 shares of the company’s stock valued at $131,000 after purchasing an additional 2,321 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Marine Products by 88.5% in the fourth quarter. Wells Fargo & Company MN now owns 7,732 shares of the company’s stock valued at $71,000 after purchasing an additional 3,631 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in shares of Marine Products by 34.1% in the fourth quarter. Lazard Asset Management LLC now owns 16,226 shares of the company’s stock valued at $148,000 after purchasing an additional 4,122 shares during the last quarter. Institutional investors own 13.86% of the company’s stock.

Marine Products Trading Down 3.7%

Marine Products stock opened at $8.22 on Thursday. Marine Products Corporation has a 12 month low of $7.49 and a 12 month high of $10.89. The stock’s 50 day moving average is $8.41 and its 200-day moving average is $8.67. The company has a market capitalization of $287.37 million, a price-to-earnings ratio of 19.57 and a beta of 0.91.

Marine Products (NYSE:MPX) last posted its earnings results on Thursday, April 24th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.02). Marine Products had a net margin of 6.84% and a return on equity of 12.05%. The firm had revenue of $59.00 million during the quarter, compared to analyst estimates of $65.90 million. As a group, equities research analysts predict that Marine Products Corporation will post 0.4 earnings per share for the current fiscal year.

Marine Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 6.81%. The ex-dividend date was Friday, May 9th. Marine Products’s payout ratio is 133.33%.

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.