Teton Advisors LLC Acquires Shares of 243,500 Marine Products Corporation $MPX

Teton Advisors LLC acquired a new position in shares of Marine Products Corporation (NYSE:MPX) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 243,500 shares of the company’s stock, valued at approximately $2,160,000. Marine Products comprises about 1.3% of Teton Advisors LLC’s portfolio, making the stock its 20th biggest holding. Teton Advisors LLC owned 0.70% of Marine Products as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. De Lisle Partners LLP raised its holdings in shares of Marine Products by 13.1% in the second quarter. De Lisle Partners LLP now owns 355,019 shares of the company’s stock valued at $3,024,000 after purchasing an additional 41,258 shares during the last quarter. Deprince Race & Zollo Inc. boosted its holdings in Marine Products by 9.7% during the third quarter. Deprince Race & Zollo Inc. now owns 313,473 shares of the company’s stock worth $2,781,000 after purchasing an additional 27,766 shares during the last quarter. Russell Investments Group Ltd. grew its position in Marine Products by 6.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 218,093 shares of the company’s stock worth $1,856,000 after purchasing an additional 13,301 shares in the last quarter. Corient Private Wealth LLC purchased a new stake in Marine Products in the 2nd quarter valued at about $85,000. Finally, Vanguard Group Inc. increased its stake in Marine Products by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 576,299 shares of the company’s stock valued at $5,112,000 after buying an additional 9,219 shares during the last quarter. Institutional investors own 13.86% of the company’s stock.

Marine Products Stock Performance

NYSE MPX opened at $7.09 on Friday. The company has a market capitalization of $249.85 million, a PE ratio of 22.16 and a beta of 1.13. Marine Products Corporation has a 52-week low of $7.06 and a 52-week high of $10.08. The company has a 50-day simple moving average of $8.69 and a 200 day simple moving average of $8.74.

Marine Products (NYSE:MPX) last released its earnings results on Thursday, February 5th. The company reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10. Marine Products had a net margin of 4.66% and a return on equity of 9.84%. The firm had revenue of $64.57 million for the quarter, compared to analysts’ expectations of $55.00 million. As a group, analysts forecast that Marine Products Corporation will post 0.4 EPS for the current fiscal year.

Marine Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 10th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 7.9%. The ex-dividend date of this dividend is Tuesday, February 10th. Marine Products’s dividend payout ratio (DPR) is currently 175.00%.

Analyst Ratings Changes

MPX has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of Marine Products in a research note on Monday, December 29th. Wall Street Zen raised Marine Products to a “hold” rating in a research report on Saturday, December 27th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Marine Products presently has a consensus rating of “Sell”.

About Marine Products

Marine Products Corporation, headquartered in Sparta, Michigan, designs and manufactures inflatable and rigid-hulled inflatable boats (RIBs) for recreational, commercial and governmental customers. Established in 1954, the company leverages decades of engineering expertise to deliver vessels for applications such as law enforcement, search and rescue, military operations, offshore support and luxury yacht tenders.

The firm’s product lineup includes a variety of RIBs and inflatables constructed from advanced composite hulls and high-performance fabrics.