Charles Schwab Investment Management Inc. Raises Stock Position in Marine Products Corporation $MPX

Charles Schwab Investment Management Inc. raised its stake in shares of Marine Products Corporation (NYSE:MPX) by 8.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,788 shares of the company’s stock after purchasing an additional 1,959 shares during the period. Charles Schwab Investment Management Inc. owned 0.07% of Marine Products worth $216,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rhumbline Advisers boosted its holdings in shares of Marine Products by 66.6% during the 1st quarter. Rhumbline Advisers now owns 21,525 shares of the company’s stock valued at $181,000 after purchasing an additional 8,602 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Marine Products by 19.4% during the 4th 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. Deprince Race & Zollo Inc. boosted its holdings in shares of Marine Products by 17.5% during the 4th quarter. Deprince Race & Zollo Inc. now owns 265,280 shares of the company’s stock valued at $2,433,000 after purchasing an additional 39,418 shares during the last quarter. Barclays PLC boosted its holdings in shares of Marine Products by 12.2% during the 4th 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. Finally, Wells Fargo & Company MN boosted its holdings in shares of Marine Products by 88.5% during the 4th 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. Institutional investors own 13.86% of the company’s stock.

Marine Products Stock Up 4.2%

MPX opened at $9.16 on Friday. The firm has a 50-day simple moving average of $8.78 and a two-hundred day simple moving average of $8.52. Marine Products Corporation has a 52 week low of $7.49 and a 52 week high of $10.32. The company has a market capitalization of $320.60 million, a PE ratio of 22.90 and a beta of 0.90.

Marine Products (NYSE:MPX) last released its quarterly earnings data on Thursday, July 24th. The company reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. Marine Products had a net margin of 6.26% and a return on equity of 10.98%. The business had revenue of $67.70 million during the quarter, compared to the consensus estimate of $67.80 million. As a group, sell-side analysts expect that Marine Products Corporation will post 0.4 earnings per share for the current year.

Marine Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 11th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 6.1%. Marine Products’s dividend payout ratio (DPR) is presently 140.00%.

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.