Marine Products Co. (NYSE:MPX) Shares Purchased by Fmr LLC

Fmr LLC grew its stake in shares of Marine Products Co. (NYSE:MPX) by 198.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,353 shares of the company’s stock after buying an additional 5,552 shares during the period. Fmr LLC’s holdings in Marine Products were worth $81,000 as of its most recent SEC filing.

Separately, Dimensional Fund Advisors LP raised its stake in shares of Marine Products by 1.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 650,433 shares of the company’s stock valued at $6,569,000 after acquiring an additional 9,680 shares during the period. 13.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Marine Products from a “buy” rating to a “hold” rating in a report on Friday.

Marine Products Price Performance

Shares of MPX stock opened at $9.03 on Tuesday. The company’s fifty day moving average price is $9.68 and its two-hundred day moving average price is $9.70. The firm has a market capitalization of $313.46 million, a P/E ratio of 17.04 and a beta of 1.22. Marine Products Co. has a 12 month low of $8.86 and a 12 month high of $12.47.

Marine Products (NYSE:MPX) last issued its quarterly 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 firm had revenue of $49.85 million during the quarter. During the same period in the prior year, the company posted $0.30 EPS. On average, sell-side analysts anticipate that Marine Products Co. will post 0.4 EPS for the current year.

Marine Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 11th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 6.20%. The ex-dividend date was Friday, November 8th. Marine Products’s 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.