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

Fmr LLC grew its holdings in shares of Marine Products Co. (NYSE:MPX) by 198.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,353 shares of the company’s stock after purchasing an additional 5,552 shares during the period. Fmr LLC’s holdings in Marine Products were worth $81,000 at the end of the most recent reporting period.

Separately, Nisa Investment Advisors LLC grew its position in Marine Products by 21,775.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,625 shares of the company’s stock valued at $27,000 after buying an additional 2,613 shares in the last quarter. 13.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Marine Products Stock Performance

Shares of NYSE MPX opened at $9.03 on Tuesday. Marine Products Co. has a 1 year low of $8.86 and a 1 year high of $12.47. The firm has a market cap of $313.46 million, a P/E ratio of 17.04 and a beta of 1.22. The stock has a fifty day moving average price of $9.68 and a two-hundred day moving average price of $9.70.

Marine Products (NYSE:MPX) last announced its earnings results on Thursday, October 24th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.02. The business had revenue of $49.85 million during the quarter. Marine Products had a return on equity of 13.55% and a net margin of 7.32%. During the same period in the prior year, the business earned $0.30 EPS. On average, research analysts predict that Marine Products Co. will post 0.4 earnings per share for the current fiscal year.

Marine Products Announces Dividend

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