Barclays PLC Boosts Stock Holdings in Marine Products Co. (NYSE:MPX)

Barclays PLC raised its position in shares of Marine Products Co. (NYSE:MPX) by 12.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 13,524 shares of the company’s stock after acquiring an additional 1,474 shares during the quarter. Barclays PLC’s holdings in Marine Products were worth $124,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Russell Investments Group Ltd. raised its position in shares of Marine Products by 4.1% in the fourth quarter. Russell Investments Group Ltd. now owns 168,632 shares of the company’s stock valued at $1,546,000 after purchasing an additional 6,582 shares during the period. Wells Fargo & Company MN boosted its holdings in Marine Products by 88.5% in the 4th quarter. Wells Fargo & Company MN now owns 7,732 shares of the company’s stock worth $71,000 after buying an additional 3,631 shares during the period. JPMorgan Chase & Co. grew its stake in Marine Products by 231.2% in the 4th quarter. JPMorgan Chase & Co. now owns 14,269 shares of the company’s stock valued at $131,000 after buying an additional 9,961 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in Marine Products by 10.6% in the 4th quarter. Rhumbline Advisers now owns 12,923 shares of the company’s stock valued at $118,000 after buying an additional 1,236 shares in the last quarter. 13.86% of the stock is owned by hedge funds and other institutional investors.

Marine Products Stock Up 2.6%

MPX stock opened at $8.83 on Thursday. The stock has a 50-day simple moving average of $8.34 and a two-hundred day simple moving average of $8.96. Marine Products Co. has a twelve month low of $7.49 and a twelve month high of $10.89. The firm has a market capitalization of $308.65 million, a PE ratio of 18.02 and a beta of 0.96.

Marine Products (NYSE:MPX) last issued its quarterly earnings data on Thursday, April 24th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.02). Marine Products had a net margin of 7.55% and a return on equity of 13.08%. The firm had revenue of $59.00 million for the quarter, compared to analysts’ expectations of $65.90 million. On average, equities research analysts anticipate that Marine Products Co. will post 0.4 EPS for the current fiscal year.

Marine Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be issued a $0.14 dividend. The ex-dividend date is Friday, May 9th. This represents a $0.56 annualized dividend and a dividend yield of 6.34%. Marine Products’s payout ratio is currently 133.33%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Marine Products from a “hold” rating to a “buy” rating in a report on Friday, January 31st.

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.