Nuveen LLC Invests $233,000 in Marine Products Corporation $MPX

Key Points

• Nuveen LLC has invested approximately $233,000 in Marine Products Corporation, acquiring 27,813 shares of the company in the first quarter.
• Marine Products reported a quarterly earnings per share of $0.12, meeting analyst expectations, with annual revenue of $67.70 million.
• The company declared a quarterly dividend of $0.14 per share, with a dividend yield of 6.2%.

Nuveen LLC acquired a new position in Marine Products Corporation (NYSE:MPX - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 27,813 shares of the company's stock, valued at approximately $233,000. Nuveen LLC owned 0.08% of Marine Products at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of MPX. Rhumbline Advisers raised its position in shares of Marine Products by 66.6% in the 1st quarter. Rhumbline Advisers now owns 21,525 shares of the company's stock worth $181,000 after acquiring an additional 8,602 shares in the last quarter. Bank of America Corp DE grew its stake in Marine Products by 19.4% in the fourth quarter. Bank of America Corp DE now owns 14,277 shares of the company's stock worth $131,000 after purchasing an additional 2,321 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Marine Products by 8.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 25,788 shares of the company's stock worth $216,000 after purchasing an additional 1,959 shares during the period. Barclays PLC raised its holdings in Marine Products by 12.2% in the fourth quarter. Barclays PLC now owns 13,524 shares of the company's stock worth $124,000 after purchasing an additional 1,474 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in Marine Products by 88.5% during the fourth quarter. Wells Fargo & Company MN now owns 7,732 shares of the company's stock valued at $71,000 after buying an additional 3,631 shares during the period. 13.86% of the stock is owned by institutional investors.

Marine Products Stock Up 2.4%

Shares of MPX stock traded up $0.22 during mid-day trading on Thursday, reaching $9.28. 21,229 shares of the company's stock traded hands, compared to its average volume of 17,301. The company's 50-day moving average price is $8.82 and its 200-day moving average price is $8.54. The company has a market cap of $324.63 million, a P/E ratio of 23.19 and a beta of 0.90. Marine Products Corporation has a 12 month low of $7.49 and a 12 month high of $10.32.

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 (EPS) for the quarter, meeting analysts' consensus estimates of $0.12. Marine Products had a net margin of 6.26% and a return on equity of 10.98%. The company had revenue of $67.70 million during the quarter, compared to analysts' expectations of $67.80 million. Equities 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 declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Monday, August 11th were paid a $0.14 dividend. The ex-dividend date was Monday, August 11th. This represents a $0.56 annualized dividend and a dividend yield of 6.0%. Marine Products's dividend payout ratio is presently 140.00%.

About Marine Products

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.