Marine Products Co. (NYSE:MPX) Holdings Raised by Deprince Race & Zollo Inc.

Deprince Race & Zollo Inc. increased its position in shares of Marine Products Co. (NYSE:MPX) by 17.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 265,280 shares of the company’s stock after purchasing an additional 39,418 shares during the quarter. Deprince Race & Zollo Inc.’s holdings in Marine Products were worth $2,433,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Wells Fargo & Company MN lifted its position in shares of Marine Products by 88.5% in the 4th quarter. Wells Fargo & Company MN now owns 7,732 shares of the company’s stock worth $71,000 after buying an additional 3,631 shares during the last quarter. Barclays PLC grew its position in shares of Marine Products by 173.0% during the third quarter. Barclays PLC now owns 12,050 shares of the company’s stock worth $116,000 after acquiring an additional 7,636 shares during the last quarter. Rhumbline Advisers boosted its stake in Marine Products by 10.6% during the 4th quarter. Rhumbline Advisers now owns 12,923 shares of the company’s stock valued at $118,000 after purchasing an additional 1,236 shares during the period. Bank of America Corp DE increased its position in Marine Products by 19.4% in the 4th quarter. Bank of America Corp DE now owns 14,277 shares of the company’s stock valued at $131,000 after acquiring an additional 2,321 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Marine Products by 231.2% during the fourth quarter. JPMorgan Chase & Co. now owns 14,269 shares of the company’s stock valued at $131,000 after purchasing an additional 9,961 shares during the period. Institutional investors and hedge funds own 13.86% of the company’s stock.

Marine Products Trading Up 3.3 %

NYSE MPX opened at $8.61 on Friday. Marine Products Co. has a 1 year low of $7.49 and a 1 year high of $11.16. The stock’s 50-day moving average price is $8.33 and its two-hundred day moving average price is $8.98. The company has a market cap of $300.93 million, a PE ratio of 17.57 and a beta of 0.96.

Marine Products (NYSE:MPX) last issued its quarterly earnings results on Thursday, April 24th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.02). The firm had revenue of $59.00 million during the quarter, compared to analysts’ expectations of $65.90 million. Marine Products had a net margin of 7.55% and a return on equity of 13.08%. Research analysts forecast that Marine Products Co. will post 0.4 EPS for the current fiscal year.

Marine Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 6.50%. The ex-dividend date of this dividend is Friday, May 9th. Marine Products’s dividend payout ratio (DPR) is presently 133.33%.

Analyst Ratings Changes

Separately, StockNews.com upgraded Marine Products from a “hold” rating to a “buy” rating in a research report on Friday, January 31st.

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.