Bank of New York Mellon Corp Sells 59,810 Shares of Marine Products Co. (NYSE:MPX)

Bank of New York Mellon Corp cut its position in Marine Products Co. (NYSE:MPX - Free Report) by 19.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 252,233 shares of the company's stock after selling 59,810 shares during the quarter. Bank of New York Mellon Corp owned about 0.73% of Marine Products worth $2,313,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC raised its position in shares of Marine Products by 198.2% during the 3rd quarter. FMR LLC now owns 8,353 shares of the company's stock worth $81,000 after buying an additional 5,552 shares in the last quarter. Barclays PLC increased its position in shares of Marine Products by 173.0% during the 3rd quarter. Barclays PLC now owns 12,050 shares of the company's stock valued at $116,000 after purchasing an additional 7,636 shares during the period. Rhumbline Advisers raised its stake in shares of Marine Products by 10.6% in the 4th quarter. Rhumbline Advisers now owns 12,923 shares of the company's stock worth $118,000 after buying an additional 1,236 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Marine Products by 661.6% in the third quarter. BNP Paribas Financial Markets now owns 20,526 shares of the company's stock valued at $199,000 after buying an additional 17,831 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Marine Products by 3.7% during the third quarter. Geode Capital Management LLC now owns 240,735 shares of the company's stock valued at $2,333,000 after buying an additional 8,527 shares in the last quarter. 13.86% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Marine Products from a "hold" rating to a "buy" rating in a research note on Friday, January 31st.

Marine Products Stock Performance

MPX traded down $0.20 during trading on Tuesday, reaching $8.26. The company had a trading volume of 23,948 shares, compared to its average volume of 40,252. The firm's 50-day simple moving average is $8.82 and its 200 day simple moving average is $9.28. The company has a market cap of $288.78 million, a price-to-earnings ratio of 16.86 and a beta of 1.24. Marine Products Co. has a 12-month low of $8.10 and a 12-month high of $12.47.

Marine Products (NYSE:MPX - Get Free Report) last released its earnings results on Thursday, January 30th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.07. Marine Products had a net margin of 7.55% and a return on equity of 13.08%. On average, sell-side analysts expect that Marine Products Co. will post 0.4 EPS for the current year.

Marine Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.56 annualized dividend and a yield of 6.78%. Marine Products's dividend payout ratio (DPR) is presently 114.29%.

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.