Jane Street Group LLC Sells 8,562 Shares of Marine Products Co. (NYSE:MPX)

Jane Street Group LLC lessened its holdings in shares of Marine Products Co. (NYSE:MPX) by 41.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,302 shares of the company’s stock after selling 8,562 shares during the period. Jane Street Group LLC’s holdings in Marine Products were worth $119,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. De Lisle Partners LLP raised its stake in shares of Marine Products by 44.8% in the third quarter. De Lisle Partners LLP now owns 297,992 shares of the company’s stock worth $2,901,000 after purchasing an additional 92,181 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Marine Products by 661.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 20,526 shares of the company’s stock worth $199,000 after acquiring an additional 17,831 shares during the last quarter. FMR LLC grew its holdings in Marine Products by 198.2% during the third quarter. FMR LLC now owns 8,353 shares of the company’s stock valued at $81,000 after purchasing an additional 5,552 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Marine Products by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 650,433 shares of the company’s stock worth $6,569,000 after acquiring an additional 9,680 shares during the period. Hedge funds and other institutional investors own 13.86% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Marine Products from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th.

Marine Products Stock Down 1.7 %

Shares of Marine Products stock opened at $8.75 on Wednesday. The firm’s 50 day moving average price is $9.54 and its 200-day moving average price is $9.59. The company has a market cap of $303.74 million, a P/E ratio of 16.51 and a beta of 1.23. Marine Products Co. has a 52-week low of $8.67 and a 52-week high of $12.47.

Marine Products (NYSE:MPX) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.02. Marine Products had a return on equity of 13.55% and a net margin of 7.32%. The business had revenue of $49.85 million during the quarter. During the same period last year, the firm earned $0.30 EPS. As a group, equities research analysts forecast that Marine Products Co. will post 0.4 EPS for the current fiscal year.

Marine Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 11th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 6.40%. The ex-dividend date was Friday, November 8th. Marine Products’s dividend payout ratio (DPR) is presently 105.66%.

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.