Marine Products Co. (NYSE:MPX) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in Marine Products Co. (NYSE:MPX) by 19.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 252,233 shares of the company’s stock after selling 59,810 shares during the period. Bank of New York Mellon Corp owned 0.73% of Marine Products worth $2,313,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its holdings in Marine Products by 10.6% in the fourth quarter. Rhumbline Advisers now owns 12,923 shares of the company’s stock valued at $118,000 after acquiring an additional 1,236 shares during the last quarter. Barclays PLC lifted its holdings in Marine Products by 173.0% in the third quarter. Barclays PLC now owns 12,050 shares of the company’s stock valued at $116,000 after acquiring an additional 7,636 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Marine Products by 3.7% in the third quarter. Geode Capital Management LLC now owns 240,735 shares of the company’s stock valued at $2,333,000 after acquiring an additional 8,527 shares during the last quarter. De Lisle Partners LLP lifted its holdings in Marine Products by 44.8% in the third quarter. De Lisle Partners LLP now owns 297,992 shares of the company’s stock valued at $2,901,000 after acquiring an additional 92,181 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in Marine Products by 661.6% in the third quarter. BNP Paribas Financial Markets now owns 20,526 shares of the company’s stock valued at $199,000 after acquiring an additional 17,831 shares during the last quarter. 13.86% of the stock is currently owned by institutional investors and hedge funds.

Marine Products Stock Up 0.7 %

NYSE:MPX opened at $8.26 on Friday. The stock’s fifty day moving average is $8.83 and its two-hundred day moving average is $9.29. Marine Products Co. has a 52 week low of $8.10 and a 52 week high of $12.47. The stock has a market capitalization of $288.60 million, a price-to-earnings ratio of 16.85 and a beta of 1.24.

Marine Products (NYSE:MPX) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.07. Marine Products had a return on equity of 13.08% and a net margin of 7.55%. On average, sell-side analysts expect that Marine Products Co. will post 0.4 EPS for the current fiscal year.

Marine Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 6.78%. The ex-dividend date was Monday, February 10th. Marine Products’s dividend payout ratio (DPR) is 114.29%.

Analyst Upgrades and Downgrades

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

Marine Products 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.