De Lisle Partners LLP Acquires 92,181 Shares of Marine Products Co. (NYSE:MPX)

De Lisle Partners LLP raised its holdings in shares of Marine Products Co. (NYSE:MPX) by 44.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 297,992 shares of the company’s stock after purchasing an additional 92,181 shares during the quarter. De Lisle Partners LLP’s holdings in Marine Products were worth $2,901,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its stake in Marine Products by 21,775.0% in the second quarter. Nisa Investment Advisors LLC now owns 2,625 shares of the company’s stock worth $27,000 after purchasing an additional 2,613 shares in the last quarter. FMR LLC raised its position in Marine Products by 198.2% during the 3rd quarter. FMR LLC now owns 8,353 shares of the company’s stock valued at $81,000 after purchasing an additional 5,552 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Marine Products by 661.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 20,526 shares of the company’s stock worth $199,000 after buying an additional 17,831 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of 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 buying an additional 9,680 shares in the last quarter. 13.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, DA Davidson lowered their price objective on shares of Marine Products from $11.00 to $8.00 and set a “neutral” rating for the company in a research note on Monday, August 12th.

Marine Products Stock Performance

NYSE MPX opened at $9.85 on Thursday. The company has a market cap of $341.89 million, a PE ratio of 18.59 and a beta of 1.23. The firm’s 50 day moving average price is $9.69 and its 200-day moving average price is $9.80. Marine Products Co. has a 52-week low of $8.86 and a 52-week high of $12.47.

Marine Products (NYSE:MPX) last announced its earnings results 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 for the quarter. During the same period last year, the business posted $0.30 EPS. On average, analysts forecast that Marine Products Co. will post 0.4 earnings per share for the current fiscal year.

Marine Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 11th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.56 dividend on an annualized basis and a yield of 5.69%. Marine Products’s dividend payout ratio is presently 105.66%.

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.