BNP Paribas Financial Markets Grows Position in Marine Products Co. (NYSE:MPX)

BNP Paribas Financial Markets boosted its position in shares of Marine Products Co. (NYSE:MPX) by 661.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 20,526 shares of the company’s stock after acquiring an additional 17,831 shares during the quarter. BNP Paribas Financial Markets’ holdings in Marine Products were worth $199,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its holdings in shares of Marine Products by 21,775.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,625 shares of the company’s stock valued at $27,000 after acquiring an additional 2,613 shares during the period. FMR LLC increased its position in Marine Products by 198.2% in the 3rd quarter. FMR LLC now owns 8,353 shares of the company’s stock valued at $81,000 after acquiring an additional 5,552 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Marine Products by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 650,433 shares of the company’s stock valued at $6,569,000 after purchasing an additional 9,680 shares during the period. Hedge funds and other institutional investors own 13.86% of the company’s stock.

Marine Products Stock Down 0.2 %

Shares of NYSE:MPX opened at $9.63 on Tuesday. The company has a 50-day moving average price of $9.72 and a 200 day moving average price of $9.74. Marine Products Co. has a 52 week low of $8.86 and a 52 week high of $12.47. The company has a market cap of $334.29 million, a P/E ratio of 18.17 and a beta of 1.22.

Marine Products (NYSE:MPX) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. Marine Products had a return on equity of 13.55% and a net margin of 7.32%. The firm had revenue of $49.85 million for the quarter. During the same quarter last year, the firm earned $0.30 earnings per share. Analysts expect that Marine Products Co. will post 0.4 EPS for the current year.

Marine Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 11th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 5.82%. The ex-dividend date was Friday, November 8th. Marine Products’s dividend payout ratio is currently 105.66%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Marine Products from a “hold” rating to a “buy” rating in a research report on Thursday, December 12th.

About Marine Products

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.