Gamco Investors INC. ET AL Reduces Position in Marine Products Corporation $MPX

Gamco Investors INC. ET AL decreased its position in shares of Marine Products Corporation (NYSE:MPX) by 0.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 512,183 shares of the company’s stock after selling 1,824 shares during the period. Gamco Investors INC. ET AL’s holdings in Marine Products were worth $4,297,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MPX. JPMorgan Chase & Co. grew its position in shares of Marine Products by 231.2% during the fourth quarter. JPMorgan Chase & Co. now owns 14,269 shares of the company’s stock worth $131,000 after acquiring an additional 9,961 shares during the last quarter. Wells Fargo & Company MN raised its position in Marine Products by 88.5% in the 4th quarter. Wells Fargo & Company MN now owns 7,732 shares of the company’s stock valued at $71,000 after purchasing an additional 3,631 shares during the last quarter. Barclays PLC boosted its stake in Marine Products by 12.2% during the 4th quarter. Barclays PLC now owns 13,524 shares of the company’s stock worth $124,000 after purchasing an additional 1,474 shares during the period. Dimensional Fund Advisors LP boosted its stake in Marine Products by 4.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 683,993 shares of the company’s stock worth $6,272,000 after purchasing an additional 27,628 shares during the period. Finally, Talon Private Wealth LLC purchased a new position in Marine Products during the 4th quarter worth $148,000. Hedge funds and other institutional investors own 13.86% of the company’s stock.

Marine Products Stock Performance

NYSE MPX opened at $9.02 on Thursday. The firm’s fifty day moving average is $8.71 and its two-hundred day moving average is $8.52. Marine Products Corporation has a one year low of $7.49 and a one year high of $10.32. The firm has a market cap of $315.81 million, a PE ratio of 22.56 and a beta of 0.93.

Marine Products (NYSE:MPX) last announced its earnings results on Thursday, July 24th. The company reported $0.12 earnings per share for the quarter, hitting the consensus estimate of $0.12. The business had revenue of $67.70 million during the quarter, compared to the consensus estimate of $67.80 million. Marine Products had a net margin of 6.26% and a return on equity of 10.98%. Research analysts predict that Marine Products Corporation will post 0.4 earnings per share for the current year.

Marine Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Monday, August 11th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 6.2%. The ex-dividend date is Monday, August 11th. Marine Products’s dividend payout ratio (DPR) is 140.00%.

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.