Short Interest in Marine Products Co. (NYSE:MPX) Decreases By 14.7%

Marine Products Co. (NYSE:MPX) was the target of a significant decline in short interest during the month of June. As of June 15th, there was short interest totalling 287,000 shares, a decline of 14.7% from the May 31st total of 336,300 shares. Currently, 2.7% of the company’s stock are sold short. Based on an average trading volume of 43,000 shares, the short-interest ratio is currently 6.7 days.

Institutional Investors Weigh In On Marine Products

A number of large investors have recently modified their holdings of the business. Victory Capital Management Inc. acquired a new stake in shares of Marine Products during the fourth quarter worth about $72,000. Barclays PLC lifted its holdings in shares of Marine Products by 161.1% during the third quarter. Barclays PLC now owns 6,076 shares of the company’s stock worth $86,000 after purchasing an additional 3,749 shares during the period. Connors Investor Services Inc. lifted its holdings in shares of Marine Products by 10.0% during the first quarter. Connors Investor Services Inc. now owns 11,000 shares of the company’s stock worth $129,000 after purchasing an additional 1,000 shares during the period. Teacher Retirement System of Texas acquired a new stake in shares of Marine Products during the fourth quarter worth about $155,000. Finally, Triumph Capital Management acquired a new position in Marine Products in the fourth quarter valued at approximately $155,000. Hedge funds and other institutional investors own 13.86% of the company’s stock.

Marine Products Trading Down 6.4 %

Shares of MPX stock traded down $0.65 during trading hours on Monday, reaching $9.45. 74,278 shares of the company’s stock were exchanged, compared to its average volume of 51,754. Marine Products has a 1 year low of $9.18 and a 1 year high of $17.81. The stock has a market cap of $327.73 million, a PE ratio of 9.36 and a beta of 1.24. The stock’s fifty day moving average price is $10.54 and its two-hundred day moving average price is $10.80.

Marine Products (NYSE:MPX) last issued its quarterly earnings results on Thursday, April 25th. The company reported $0.13 earnings per share for the quarter. Marine Products had a return on equity of 23.29% and a net margin of 10.40%. The business had revenue of $69.34 million for the quarter. On average, equities analysts expect that Marine Products will post 0.6 EPS for the current fiscal year.

Marine Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were paid a dividend of $0.14 per share. The ex-dividend date was Thursday, May 9th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.93%. Marine Products’s payout ratio is 55.45%.

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.