Seizert Capital Partners LLC Purchases Shares of 130,097 Marine Products Corporation (MPX)
Seizert Capital Partners LLC purchased a new stake in Marine Products Corporation (NYSE:MPX) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 130,097 shares of the company’s stock, valued at approximately $2,031,000. Seizert Capital Partners LLC owned about 0.37% of Marine Products Corporation at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in MPX. Chicago Equity Partners LLC purchased a new stake in Marine Products Corporation in the 2nd quarter valued at $340,000. Wedge Capital Management L L P NC purchased a new stake in Marine Products Corporation in the 1st quarter valued at $349,000. Schwab Charles Investment Management Inc. raised its position in Marine Products Corporation by 7.2% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 40,954 shares of the company’s stock valued at $446,000 after purchasing an additional 2,736 shares during the last quarter. Bank of New York Mellon Corp raised its position in Marine Products Corporation by 2.4% in the 1st quarter. Bank of New York Mellon Corp now owns 186,635 shares of the company’s stock valued at $2,028,000 after purchasing an additional 4,415 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Marine Products Corporation by 4.1% in the 1st quarter. Renaissance Technologies LLC now owns 189,607 shares of the company’s stock valued at $2,061,000 after purchasing an additional 7,389 shares during the last quarter. Hedge funds and other institutional investors own 15.26% of the company’s stock.
In related news, Director Pam R. Rollins bought 3,930 shares of the business’s stock in a transaction on Friday, August 25th. The shares were bought at an average cost of $15.14 per share, for a total transaction of $59,500.20. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $151,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Pam R. Rollins bought 6,070 shares of the business’s stock in a transaction on Thursday, August 24th. The stock was bought at an average price of $14.90 per share, for a total transaction of $90,443.00. Following the completion of the purchase, the director now directly owns 1,104 shares of the company’s stock, valued at approximately $16,449.60. The disclosure for this purchase can be found here. Company insiders own 77.90% of the company’s stock.
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Several analysts recently commented on MPX shares. Zacks Investment Research downgraded shares of Marine Products Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. BidaskClub cut shares of Marine Products Corporation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. ValuEngine raised shares of Marine Products Corporation from a “hold” rating to a “buy” rating in a research note on Friday, July 28th. Finally, B. Riley reissued a “neutral” rating and issued a $12.00 price objective on shares of Marine Products Corporation in a research note on Wednesday, August 2nd.
Marine Products Corporation (NYSE MPX) opened at 15.44 on Tuesday. The firm has a 50-day moving average of $14.92 and a 200 day moving average of $13.06. Marine Products Corporation has a 52 week low of $8.76 and a 52 week high of $16.25. The firm has a market capitalization of $538.58 million, a PE ratio of 28.86 and a beta of 0.32.
Marine Products Corporation (NYSE:MPX) last posted its earnings results on Wednesday, July 26th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.03. The company had revenue of $71.48 million for the quarter, compared to analysts’ expectations of $73.33 million. Marine Products Corporation had a return on equity of 25.69% and a net margin of 7.60%. Analysts predict that Marine Products Corporation will post $0.65 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Thursday, August 10th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Tuesday, August 8th. Marine Products Corporation’s payout ratio is 51.85%.
Marine Products Corporation Company Profile
Marine Products Corporation manufactures fiberglass motorized boats distributed and marketed through its independent dealer network. The Company designs, manufactures and sells recreational fiberglass powerboats in the sportboat, deckboat, cruiser, jet boat and sport fishing markets. The Company’s product offerings include Chaparral sterndrive, outboard and jet pleasure boats, and Robalo outboard sport fishing boats.
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