Denali Advisors LLC Raises Stock Position in Marine Products Co. (NYSE:MPX)

Denali Advisors LLC raised its position in Marine Products Co. (NYSE:MPX) by 27.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,600 shares of the company’s stock after purchasing an additional 15,300 shares during the quarter. Denali Advisors LLC owned 0.20% of Marine Products worth $830,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Teacher Retirement System of Texas acquired a new position in shares of Marine Products during the 4th quarter worth approximately $155,000. Los Angeles Capital Management LLC boosted its stake in Marine Products by 110.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 56,917 shares of the company’s stock valued at $649,000 after acquiring an additional 29,905 shares in the last quarter. Triumph Capital Management purchased a new stake in Marine Products in the 4th quarter valued at $155,000. Victory Capital Management Inc. acquired a new stake in Marine Products during the 4th quarter worth approximately $72,000. Finally, Truist Financial Corp lifted its position in Marine Products by 13.1% in the fourth quarter. Truist Financial Corp now owns 61,070 shares of the company’s stock valued at $696,000 after purchasing an additional 7,070 shares during the period. Institutional investors own 13.86% of the company’s stock.

Marine Products Stock Up 0.9 %

Shares of MPX traded up $0.09 on Wednesday, hitting $9.59. 9,776 shares of the stock traded hands, compared to its average volume of 51,435. Marine Products Co. has a 1 year low of $9.18 and a 1 year high of $17.81. The stock’s 50 day moving average is $10.51 and its two-hundred day moving average is $10.79. The firm has a market capitalization of $332.61 million, a P/E ratio of 9.41 and a beta of 1.24.

Marine Products (NYSE:MPX) last posted its quarterly earnings data on Thursday, April 25th. The company reported $0.13 earnings per share (EPS) for the quarter. The company had revenue of $69.34 million for the quarter. Marine Products had a net margin of 10.40% and a return on equity of 23.29%. Research analysts forecast that Marine Products Co. will post 0.6 EPS for the current year.

Marine Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were issued a $0.14 dividend. The ex-dividend date was Thursday, May 9th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.84%. Marine Products’s dividend payout ratio (DPR) is presently 55.45%.

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.