De Lisle Partners LLP Buys 92,181 Shares of Marine Products Co. (NYSE:MPX)

De Lisle Partners LLP boosted its position in shares of Marine Products Co. (NYSE:MPX) by 44.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 297,992 shares of the company’s stock after acquiring an additional 92,181 shares during the period. De Lisle Partners LLP owned 0.86% of Marine Products worth $2,901,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its position in shares of Marine Products by 21,775.0% during the 2nd 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 period. Dimensional Fund Advisors LP raised its holdings in Marine Products by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 650,433 shares of the company’s stock valued at $6,569,000 after acquiring an additional 9,680 shares during the period. FMR LLC raised its holdings in 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 during the period. Finally, BNP Paribas Financial Markets lifted its position in shares of Marine Products by 661.6% in the third quarter. BNP Paribas Financial Markets now owns 20,526 shares of the company’s stock valued at $199,000 after acquiring an additional 17,831 shares in the last quarter. Hedge funds and other institutional investors own 13.86% of the company’s stock.

Wall Street Analyst Weigh In

Separately, DA Davidson cut their target price 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 stock opened at $9.85 on Thursday. The company’s fifty day moving average price is $9.69 and its 200-day moving average price is $9.80. Marine Products Co. has a one year low of $8.86 and a one year high of $12.47. The company has a market capitalization of $341.89 million, a PE ratio of 18.59 and a beta of 1.23.

Marine Products (NYSE:MPX) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.08 by $0.02. Marine Products had a net margin of 7.32% and a return on equity of 13.55%. The business had revenue of $49.85 million for the quarter. During the same quarter in the previous year, the firm earned $0.30 EPS. On average, research analysts predict that Marine Products Co. will post 0.4 EPS for the current fiscal year.

Marine Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 11th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.56 annualized dividend and a yield of 5.69%. Marine Products’s payout ratio is currently 105.66%.

Marine Products 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.