Connors Investor Services Inc. Has $129,000 Position in Marine Products Co. (NYSE:MPX)

Connors Investor Services Inc. increased its stake in shares of Marine Products Co. (NYSE:MPX) by 10.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,000 shares of the company’s stock after purchasing an additional 1,000 shares during the quarter. Connors Investor Services Inc.’s holdings in Marine Products were worth $129,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Denali Advisors LLC raised its position in Marine Products by 27.7% during the first quarter. Denali Advisors LLC now owns 70,600 shares of the company’s stock valued at $830,000 after acquiring an additional 15,300 shares in the last quarter. Truist Financial Corp raised its position in Marine Products by 13.1% during the fourth quarter. Truist Financial Corp now owns 61,070 shares of the company’s stock valued at $696,000 after acquiring an additional 7,070 shares in the last quarter. Los Angeles Capital Management LLC raised its position in Marine Products by 110.7% during the fourth quarter. Los Angeles Capital Management LLC now owns 56,917 shares of the company’s stock valued at $649,000 after acquiring an additional 29,905 shares in the last quarter. GSA Capital Partners LLP raised its position in Marine Products by 3.2% during the first quarter. GSA Capital Partners LLP now owns 41,949 shares of the company’s stock valued at $493,000 after acquiring an additional 1,299 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in Marine Products by 10.2% during the first quarter. Janney Montgomery Scott LLC now owns 33,415 shares of the company’s stock valued at $393,000 after acquiring an additional 3,104 shares in the last quarter. 13.86% of the stock is currently owned by institutional investors and hedge funds.

Marine Products Price Performance

MPX traded up $0.35 during midday trading on Monday, hitting $10.50. 18,486 shares of the company’s stock traded hands, compared to its average volume of 51,452. Marine Products Co. has a one year low of $8.96 and a one year high of $17.81. The company has a market cap of $364.14 million, a PE ratio of 10.05 and a beta of 1.24. The stock’s fifty day simple moving average is $10.10 and its 200-day simple moving average is $10.64.

Marine Products (NYSE:MPX) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.13 EPS for the quarter. Marine Products had a net margin of 10.40% and a return on equity of 23.29%. The company had revenue of $69.34 million for the quarter. On average, research analysts expect that Marine Products Co. will post 0.6 EPS for the current year.

Marine Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.33%. The ex-dividend date was Thursday, May 9th. Marine Products’s dividend payout ratio is 55.45%.

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.