Nuveen LLC acquired a new position in Marine Products Corporation (NYSE:MPX - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 27,813 shares of the company's stock, valued at approximately $233,000. Nuveen LLC owned approximately 0.08% of Marine Products at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in MPX. Wells Fargo & Company MN raised its holdings in Marine Products by 88.5% in the fourth quarter. Wells Fargo & Company MN now owns 7,732 shares of the company's stock worth $71,000 after purchasing an additional 3,631 shares in the last quarter. Summit Financial Strategies Inc. bought a new position in shares of Marine Products during the first quarter valued at $92,000. Burney Co. bought a new position in shares of Marine Products during the first quarter valued at $108,000. Barclays PLC increased its holdings in shares of Marine Products by 12.2% during the fourth quarter. Barclays PLC now owns 13,524 shares of the company's stock valued at $124,000 after acquiring an additional 1,474 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Marine Products by 19.4% during the fourth quarter. Bank of America Corp DE now owns 14,277 shares of the company's stock valued at $131,000 after acquiring an additional 2,321 shares in the last quarter. Institutional investors own 13.86% of the company's stock.
Marine Products Price Performance
Shares of NYSE:MPX opened at $9.11 on Friday. Marine Products Corporation has a 1-year low of $7.49 and a 1-year high of $10.32. The business has a fifty day moving average price of $8.79 and a 200-day moving average price of $8.52. The company has a market capitalization of $318.68 million, a PE ratio of 22.76 and a beta of 0.90.
Marine Products (NYSE:MPX - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $0.12 earnings per share for the quarter, meeting the consensus estimate of $0.12. Marine Products had a return on equity of 10.98% and a net margin of 6.26%.The firm had revenue of $67.70 million during the quarter, compared to the consensus estimate of $67.80 million. On average, sell-side analysts anticipate that Marine Products Corporation will post 0.4 earnings per share for the current fiscal year.
Marine Products Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 11th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, August 11th. This represents a $0.56 annualized dividend and a dividend yield of 6.2%. Marine Products's dividend payout ratio (DPR) is 140.00%.
About Marine Products
(
Free Report)
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.
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