Gratus Capital LLC Holds Stake in Marine Products Corporation (MPX)
Gratus Capital LLC continued to hold its position in shares of Marine Products Corporation (NYSE:MPX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,699 shares of the company’s stock at the end of the second quarter. Gratus Capital LLC’s holdings in Marine Products Corporation were worth $214,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. Wedge Capital Management L L P NC purchased a new stake in Marine Products Corporation during the first quarter valued at $349,000. Schwab Charles Investment Management Inc. boosted its stake in Marine Products Corporation by 7.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 40,954 shares of the company’s stock valued at $446,000 after buying an additional 2,736 shares during the period. Bank of New York Mellon Corp boosted its stake in Marine Products Corporation by 2.4% in the first quarter. Bank of New York Mellon Corp now owns 186,635 shares of the company’s stock valued at $2,028,000 after buying an additional 4,415 shares during the period. Renaissance Technologies LLC boosted its stake in Marine Products Corporation by 4.1% in the first quarter. Renaissance Technologies LLC now owns 189,607 shares of the company’s stock valued at $2,061,000 after buying an additional 7,389 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Marine Products Corporation by 5.5% in the first quarter. Dimensional Fund Advisors LP now owns 552,871 shares of the company’s stock valued at $6,010,000 after buying an additional 28,765 shares during the period. 15.26% of the stock is owned by hedge funds and other institutional investors.
Marine Products Corporation (NYSE:MPX) opened at 15.28 on Thursday. The firm has a market capitalization of $533.00 million, a price-to-earnings ratio of 28.56 and a beta of 0.34. Marine Products Corporation has a 1-year low of $8.76 and a 1-year high of $16.25. The stock has a 50 day moving average price of $14.95 and a 200 day moving average price of $12.89.
Marine Products Corporation (NYSE:MPX) last posted its quarterly earnings results on Wednesday, July 26th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.03. Marine Products Corporation had a return on equity of 25.69% and a net margin of 7.60%. The business had revenue of $71.48 million during the quarter, compared to analysts’ expectations of $73.33 million. Analysts predict that Marine Products Corporation will post $0.65 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Thursday, August 10th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Tuesday, August 8th. Marine Products Corporation’s dividend payout ratio is presently 51.85%.
Several research analysts have issued reports on MPX shares. BidaskClub cut Marine Products Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. Zacks Investment Research cut Marine Products Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. ValuEngine raised Marine Products Corporation from a “hold” rating to a “buy” rating in a research note on Friday, July 28th. Finally, B. Riley reaffirmed a “neutral” rating and set a $12.00 price objective on shares of Marine Products Corporation in a research note on Monday, August 7th.
In other news, CFO Ben M. Palmer sold 13,500 shares of Marine Products Corporation stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $14.05, for a total value of $189,675.00. Following the completion of the sale, the chief financial officer now directly owns 378,573 shares in the company, valued at $5,318,950.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Pam R. Rollins purchased 6,070 shares of the company’s stock in a transaction dated Thursday, August 24th. The stock was acquired at an average price of $14.90 per share, with a total value of $90,443.00. Following the completion of the transaction, the director now owns 1,104 shares of the company’s stock, valued at approximately $16,449.60. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 21,000 shares of company stock valued at $297,100. 77.90% of the stock is owned by company insiders.
Marine Products Corporation Company Profile
Marine Products Corporation manufactures fiberglass motorized boats distributed and marketed through its independent dealer network. The Company designs, manufactures and sells recreational fiberglass powerboats in the sportboat, deckboat, cruiser, jet boat and sport fishing markets. The Company’s product offerings include Chaparral sterndrive, outboard and jet pleasure boats, and Robalo outboard sport fishing boats.
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