Marine Products Co. (NYSE:MPX) Short Interest Down 14.7% in June

Marine Products Co. (NYSE:MPX) saw a significant decline in short interest in the month of June. As of June 15th, there was short interest totalling 287,000 shares, a decline of 14.7% from the May 31st total of 336,300 shares. Based on an average daily trading volume, of 43,000 shares, the short-interest ratio is presently 6.7 days. Approximately 2.7% of the shares of the company are sold short.

Marine Products Price Performance

Shares of NYSE:MPX traded down $0.65 during trading on Monday, reaching $9.45. The company had a trading volume of 74,278 shares, compared to its average volume of 51,754. The firm has a market capitalization of $327.73 million, a price-to-earnings ratio of 9.36 and a beta of 1.24. The stock’s fifty day moving average price is $10.54 and its 200 day moving average price is $10.80. Marine Products has a fifty-two week low of $9.18 and a fifty-two week high of $17.81.

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

Marine Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were given a dividend of $0.14 per share. The ex-dividend date was Thursday, May 9th. This represents a $0.56 dividend on an annualized basis and a yield of 5.93%. Marine Products’s payout ratio is 55.45%.

Institutional Trading of Marine Products

Institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. purchased a new stake in Marine Products during the fourth quarter worth $72,000. Barclays PLC boosted its position in Marine Products by 161.1% during the third quarter. Barclays PLC now owns 6,076 shares of the company’s stock worth $86,000 after purchasing an additional 3,749 shares in the last quarter. Connors Investor Services Inc. boosted its position in Marine Products by 10.0% during the first quarter. Connors Investor Services Inc. now owns 11,000 shares of the company’s stock worth $129,000 after purchasing an additional 1,000 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in Marine Products during the fourth quarter worth $155,000. Finally, Triumph Capital Management purchased a new stake in Marine Products during the fourth quarter worth $155,000. 13.86% of the stock is currently owned by hedge funds and other institutional investors.

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.