Talon Private Wealth LLC Makes New $148,000 Investment in Marine Products Co. (NYSE:MPX)

Talon Private Wealth LLC bought a new position in shares of Marine Products Co. (NYSE:MPX) in the fourth quarter, HoldingsChannel.com reports. The firm bought 16,191 shares of the company’s stock, valued at approximately $148,000.

Other institutional investors also recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its stake in Marine Products by 88.5% in the fourth quarter. Wells Fargo & Company MN now owns 7,732 shares of the company’s stock valued at $71,000 after acquiring an additional 3,631 shares in the last quarter. Barclays PLC increased its holdings in shares of Marine Products by 173.0% in the third quarter. Barclays PLC now owns 12,050 shares of the company’s stock valued at $116,000 after purchasing an additional 7,636 shares during the period. Rhumbline Advisers lifted its stake in Marine Products by 10.6% during the 4th quarter. Rhumbline Advisers now owns 12,923 shares of the company’s stock valued at $118,000 after acquiring an additional 1,236 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Marine Products by 231.2% during 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 during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in 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 acquiring an additional 6,582 shares during the period. Institutional investors own 13.86% of the company’s stock.

Analyst Ratings Changes

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

Marine Products Stock Down 0.5 %

MPX stock opened at $8.36 on Friday. Marine Products Co. has a 52-week low of $7.49 and a 52-week high of $12.47. The firm has a market cap of $292.22 million, a P/E ratio of 17.06 and a beta of 1.03. The company’s 50-day simple moving average is $8.35 and its 200-day simple moving average is $9.03.

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

Marine Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be given a $0.14 dividend. The ex-dividend date is Friday, May 9th. This represents a $0.56 annualized dividend and a dividend yield of 6.70%. Marine Products’s dividend payout ratio (DPR) is 133.33%.

Marine Products Company 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.