243,500 Shares in Marine Products Corporation $MPX Purchased by Teton Advisors LLC

Teton Advisors LLC acquired a new stake in Marine Products Corporation (NYSE:MPX) during the third quarter, Holdings Channel reports. The firm acquired 243,500 shares of the company’s stock, valued at approximately $2,160,000. Marine Products comprises 1.3% of Teton Advisors LLC’s holdings, making the stock its 20th biggest holding.

Several other institutional investors have also added to or reduced their stakes in the business. Police & Firemen s Retirement System of New Jersey bought a new position in Marine Products during the second quarter worth about $26,000. Strs Ohio bought a new stake in shares of Marine Products in the first quarter valued at approximately $77,000. Corient Private Wealth LLC purchased a new stake in shares of Marine Products during the 2nd quarter valued at approximately $85,000. Rhumbline Advisers lifted its stake in shares of Marine Products by 66.6% during the 1st quarter. Rhumbline Advisers now owns 21,525 shares of the company’s stock valued at $181,000 after buying an additional 8,602 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings in Marine Products by 7.0% in the 2nd quarter. Los Angeles Capital Management LLC now owns 21,525 shares of the company’s stock worth $183,000 after buying an additional 1,400 shares during the period. 13.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MPX. Wall Street Zen upgraded shares of Marine Products to a “hold” rating in a research note on Saturday, December 27th. Weiss Ratings restated a “sell (d+)” rating on shares of Marine Products in a research report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Marine Products Stock Down 2.5%

Shares of MPX opened at $7.09 on Friday. Marine Products Corporation has a twelve month low of $7.06 and a twelve month high of $10.08. The stock has a market cap of $249.85 million, a PE ratio of 22.16 and a beta of 1.13. The business’s 50-day moving average price is $8.69 and its 200-day moving average price is $8.74.

Marine Products (NYSE:MPX) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.10 EPS for the quarter, meeting analysts’ consensus estimates of $0.10. The company had revenue of $64.57 million during the quarter, compared to analyst estimates of $55.00 million. Marine Products had a net margin of 4.66% and a return on equity of 9.84%. Analysts expect that Marine Products Corporation will post 0.4 earnings per share for the current fiscal year.

Marine Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 10th will be paid a $0.14 dividend. The ex-dividend date is Tuesday, February 10th. This represents a $0.56 annualized dividend and a yield of 7.9%. Marine Products’s dividend payout ratio is currently 175.00%.

About Marine Products

Marine Products Corporation, headquartered in Sparta, Michigan, designs and manufactures inflatable and rigid-hulled inflatable boats (RIBs) for recreational, commercial and governmental customers. Established in 1954, the company leverages decades of engineering expertise to deliver vessels for applications such as law enforcement, search and rescue, military operations, offshore support and luxury yacht tenders.

The firm’s product lineup includes a variety of RIBs and inflatables constructed from advanced composite hulls and high-performance fabrics.