Teton Advisors Inc. increased its position in Marine Products Corporation (NYSE:MPX) by 0.9% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 812,400 shares of the company’s stock after buying an additional 7,400 shares during the period. Marine Products Corporation accounts for about 1.2% of Teton Advisors Inc.’s holdings, making the stock its 9th largest position. Teton Advisors Inc.’s holdings in Marine Products Corporation were worth $12,682,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of MPX. Wedge Capital Management L L P NC bought a new stake in Marine Products Corporation during the first quarter worth approximately $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 worth $446,000 after buying an additional 2,736 shares during the last quarter. 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 worth $2,028,000 after buying an additional 4,415 shares during the last quarter. 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 worth $2,061,000 after buying an additional 7,389 shares during the last quarter. 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 worth $6,010,000 after buying an additional 28,765 shares during the last quarter. Institutional investors and hedge funds own 15.26% of the company’s stock.

Marine Products Corporation (NYSE:MPX) traded up 0.81% on Wednesday, hitting $14.86. 683 shares of the company’s stock were exchanged. The stock has a market cap of $518.35 million, a P/E ratio of 27.78 and a beta of 0.34. The firm has a 50 day moving average price of $15.03 and a 200-day moving average price of $12.70. Marine Products Corporation has a 52-week low of $8.30 and a 52-week high of $16.25.

Marine Products Corporation (NYSE:MPX) last released its earnings results on Wednesday, July 26th. The company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.03. The firm had revenue of $71.48 million for the quarter, compared to the consensus estimate of $73.33 million. Marine Products Corporation had a net margin of 7.60% and a return on equity of 25.69%. Analysts predict that Marine Products Corporation will post $0.65 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Thursday, August 10th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Tuesday, August 8th. Marine Products Corporation’s dividend payout ratio is presently 51.85%.

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A number of equities research analysts have commented on MPX shares. Zacks Investment Research upgraded shares of Marine Products Corporation from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Tuesday, May 2nd. ValuEngine upgraded shares of Marine Products Corporation from a “hold” rating to a “buy” rating in a report on Friday, July 28th. BidaskClub cut shares of Marine Products Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Finally, B. Riley reaffirmed a “neutral” rating and issued 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 the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $14.05, for a total value of $189,675.00. Following the sale, the chief financial officer now directly owns 378,573 shares of the company’s stock, valued at approximately $5,318,950.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ben M. Palmer sold 5,000 shares of the company’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $14.35, for a total transaction of $71,750.00. Following the completion of the sale, the chief financial officer now directly owns 365,073 shares in the company, valued at $5,238,797.55. The disclosure for this sale can be found here. Insiders sold a total of 21,000 shares of company stock worth $297,100 over the last ninety days. Insiders own 77.90% of the company’s stock.

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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Institutional Ownership by Quarter for Marine Products Corporation (NYSE:MPX)

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