Teton Advisors Inc. Cuts Position in Marine Products Co. (NYSE:MPX)

Teton Advisors Inc. trimmed its stake in Marine Products Co. (NYSE:MPX) by 10.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 322,000 shares of the company’s stock after selling 37,500 shares during the period. Marine Products accounts for 1.2% of Teton Advisors Inc.’s portfolio, making the stock its 20th largest position. Teton Advisors Inc. owned 0.93% of Marine Products worth $3,671,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Victory Capital Management Inc. bought a new position in Marine Products in the fourth quarter worth about $72,000. Barclays PLC lifted its position in Marine Products by 161.1% during the third quarter. Barclays PLC now owns 6,076 shares of the company’s stock valued at $86,000 after acquiring an additional 3,749 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in Marine Products during the fourth quarter valued at approximately $155,000. Triumph Capital Management acquired a new stake in Marine Products in the fourth quarter valued at approximately $155,000. Finally, Quadrature Capital Ltd purchased a new position in Marine Products in the third quarter worth $170,000. 13.86% of the stock is currently owned by hedge funds and other institutional investors.

Marine Products Trading Down 1.0 %

Shares of MPX traded down $0.12 during midday trading on Monday, hitting $11.38. 48,707 shares of the company’s stock traded hands, compared to its average volume of 50,908. The stock has a market capitalization of $394.66 million, a price-to-earnings ratio of 11.27 and a beta of 1.26. Marine Products Co. has a 1 year low of $9.18 and a 1 year high of $17.81. The firm’s fifty day moving average is $10.96 and its 200-day moving average is $10.87.

Marine Products (NYSE:MPX) last announced its earnings results on Thursday, January 25th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.03). The business had revenue of $70.87 million for the quarter. Marine Products had a net margin of 10.40% and a return on equity of 23.29%. During the same quarter in the prior year, the company earned $0.35 earnings per share. On average, equities research analysts anticipate that Marine Products Co. will post 0.95 EPS for the current year.

Marine Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 4.92%. The ex-dividend date of this dividend is Thursday, May 9th. Marine Products’s payout ratio is currently 55.45%.

Marine Products Profile

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.