Teton Advisors Inc. Cuts Stock Position in Marine Products Co. (NYSE:MPX)

Teton Advisors Inc. cut its position in Marine Products Co. (NYSE:MPX) by 1.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 248,000 shares of the company’s stock after selling 4,000 shares during the period. Marine Products accounts for approximately 1.2% of Teton Advisors Inc.’s investment portfolio, making the stock its 21st biggest holding. Teton Advisors Inc.’s holdings in Marine Products were worth $2,274,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of MPX. Wells Fargo & Company MN grew its stake in Marine Products by 88.5% during the 4th quarter. Wells Fargo & Company MN now owns 7,732 shares of the company’s stock worth $71,000 after buying an additional 3,631 shares during the last quarter. FMR LLC increased its holdings in shares of Marine Products by 198.2% during the third quarter. FMR LLC now owns 8,353 shares of the company’s stock valued at $81,000 after acquiring an additional 5,552 shares in the last quarter. Barclays PLC increased its holdings in shares of Marine Products by 173.0% during the third quarter. Barclays PLC now owns 12,050 shares of the company’s stock valued at $116,000 after acquiring an additional 7,636 shares in the last quarter. Rhumbline Advisers raised its position in shares of Marine Products by 10.6% in the 4th quarter. Rhumbline Advisers now owns 12,923 shares of the company’s stock valued at $118,000 after purchasing an additional 1,236 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Marine Products by 231.2% in the 4th quarter. JPMorgan Chase & Co. now owns 14,269 shares of the company’s stock worth $131,000 after purchasing an additional 9,961 shares in the last quarter. 13.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Marine Products from a “hold” rating to a “buy” rating in a research note on Friday, January 31st.

Marine Products Stock Performance

Shares of MPX opened at $8.35 on Tuesday. The stock has a 50-day moving average of $8.49 and a two-hundred day moving average of $9.13. The stock has a market cap of $291.92 million, a P/E ratio of 17.04 and a beta of 1.03. Marine Products Co. has a one year low of $7.49 and a one year high of $12.47.

Marine Products (NYSE:MPX) last issued its earnings results on Thursday, January 30th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. Marine Products had a return on equity of 13.08% and a net margin of 7.55%. Analysts predict that Marine Products Co. will post 0.4 EPS for the current fiscal year.

Marine Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were paid a $0.14 dividend. The ex-dividend date was Monday, February 10th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 6.71%. Marine Products’s payout ratio is currently 114.29%.

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.