Short Interest in Marine Products Co. (NYSE:MPX) Decreases By 14.7%

Marine Products Co. (NYSE:MPX) saw a large decrease in short interest during the month of June. As of June 15th, there was short interest totalling 287,000 shares, a decrease of 14.7% from the May 31st total of 336,300 shares. Based on an average daily volume of 43,000 shares, the days-to-cover ratio is currently 6.7 days. Approximately 2.7% of the company’s stock are short sold.

Marine Products Stock Performance

Shares of Marine Products stock opened at $10.10 on Friday. The company has a 50-day simple moving average of $10.57 and a two-hundred day simple moving average of $10.81. The stock has a market capitalization of $350.27 million, a PE ratio of 10.00 and a beta of 1.26. Marine Products has a 52-week low of $9.18 and a 52-week high of $17.81.

Marine Products (NYSE:MPX) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.13 earnings per share for the quarter. The company had revenue of $69.34 million during the quarter. Marine Products had a net margin of 10.40% and a return on equity of 23.29%. As a group, equities research analysts forecast that Marine Products will post 0.6 EPS for the current fiscal year.

Marine Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.54%. The ex-dividend date of this dividend was Thursday, May 9th. Marine Products’s payout ratio is currently 55.45%.

Institutional Investors Weigh In On Marine Products

Several large investors have recently bought and sold shares of MPX. Barclays PLC lifted its stake in Marine Products by 161.1% during the 3rd 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 period. Victory Capital Management Inc. purchased a new position in shares of Marine Products during the fourth quarter valued at approximately $72,000. Connors Investor Services Inc. raised its holdings in shares of Marine Products by 10.0% during the first quarter. Connors Investor Services Inc. now owns 11,000 shares of the company’s stock valued at $129,000 after purchasing an additional 1,000 shares during the last quarter. Quadrature Capital Ltd bought a new position in Marine Products during the third quarter valued at approximately $170,000. Finally, Teacher Retirement System of Texas purchased a new stake in Marine Products in the fourth quarter worth approximately $155,000. 13.86% of the stock is currently owned by institutional investors.

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.