Los Angeles Capital Management LLC Sells 5,530 Shares of Marine Products Co. (NYSE:MPX)

Los Angeles Capital Management LLC decreased its position in Marine Products Co. (NYSE:MPX) by 11.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,115 shares of the company’s stock after selling 5,530 shares during the quarter. Los Angeles Capital Management LLC owned 0.12% of Marine Products worth $398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Janney Montgomery Scott LLC lifted its position in Marine Products by 10.2% in the first quarter. Janney Montgomery Scott LLC now owns 33,415 shares of the company’s stock valued at $393,000 after purchasing an additional 3,104 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in Marine Products by 147.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 30,068 shares of the company’s stock valued at $353,000 after purchasing an additional 17,924 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in Marine Products by 0.3% in the first quarter. Gamco Investors INC. ET AL now owns 520,762 shares of the company’s stock valued at $6,119,000 after purchasing an additional 1,547 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Marine Products by 21,775.0% in the second quarter. Nisa Investment Advisors LLC now owns 2,625 shares of the company’s stock valued at $27,000 after purchasing an additional 2,613 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Marine Products by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 650,433 shares of the company’s stock valued at $6,569,000 after purchasing an additional 9,680 shares during the last quarter. Institutional investors own 13.86% of the company’s stock.

Wall Street Analyst Weigh In

Separately, DA Davidson lowered their price objective on Marine Products from $11.00 to $8.00 and set a “neutral” rating for the company in a research report on Monday, August 12th.

Marine Products Stock Performance

MPX opened at $9.70 on Monday. Marine Products Co. has a 52-week low of $8.86 and a 52-week high of $12.47. The stock has a market capitalization of $336.69 million, a PE ratio of 18.30 and a beta of 1.23. The stock’s 50 day moving average price is $9.61 and its 200-day moving average price is $9.88.

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

Marine Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 11th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.56 annualized dividend and a yield of 5.77%. Marine Products’s payout ratio is 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.