Truist Financial Corp raised its stake in shares of Marine Products Co. (NYSE:MPX – Free Report) by 13.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 61,070 shares of the company’s stock after buying an additional 7,070 shares during the quarter. Truist Financial Corp’s holdings in Marine Products were worth $696,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC lifted its stake in shares of Marine Products by 161.1% in the 3rd quarter. Barclays PLC now owns 6,076 shares of the company’s stock worth $86,000 after purchasing an additional 3,749 shares during the period. Acadian Asset Management LLC grew its position in shares of Marine Products by 7.8% during the 3rd quarter. Acadian Asset Management LLC now owns 52,598 shares of the company’s stock valued at $745,000 after acquiring an additional 3,803 shares during the period. Strs Ohio increased its stake in shares of Marine Products by 19.5% in the 3rd quarter. Strs Ohio now owns 37,400 shares of the company’s stock worth $531,000 after purchasing an additional 6,100 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Marine Products by 68.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 26,356 shares of the company’s stock worth $375,000 after purchasing an additional 10,674 shares during the period. Finally, Quadrature Capital Ltd purchased a new position in Marine Products during the third quarter valued at $170,000. 13.86% of the stock is currently owned by hedge funds and other institutional investors.
Marine Products Stock Down 0.7 %
NYSE MPX opened at $10.68 on Thursday. Marine Products Co. has a 52 week low of $9.18 and a 52 week high of $17.81. The company has a market capitalization of $370.38 million, a P/E ratio of 10.57 and a beta of 1.26. The stock’s 50-day moving average price is $11.08 and its 200-day moving average price is $10.73.
Marine Products Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.24%. Marine Products’s dividend payout ratio (DPR) is presently 55.45%.
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.
See Also
Want to see what other hedge funds are holding MPX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marine Products Co. (NYSE:MPX – Free Report).
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Source: defenseworld.net
