Short Interest in Martin Midstream Partners L.P. (NASDAQ:MMLP) Drops By 19.1%

Martin Midstream Partners L.P. (NASDAQ:MMLPGet Rating) was the recipient of a significant decline in short interest in April. As of April 30th, there was short interest totalling 141,700 shares, a decline of 19.1% from the April 15th total of 175,100 shares. Approximately 0.5% of the shares of the company are short sold. Based on an average daily trading volume, of 176,700 shares, the short-interest ratio is presently 0.8 days.

Shares of Martin Midstream Partners stock traded down $0.19 during trading on Thursday, reaching $4.17. The company’s stock had a trading volume of 53,696 shares, compared to its average volume of 175,974. The stock has a 50-day moving average price of $4.55 and a two-hundred day moving average price of $3.55. Martin Midstream Partners has a one year low of $2.50 and a one year high of $5.98. The stock has a market capitalization of $161.96 million, a P/E ratio of 18.96 and a beta of 2.28.

Martin Midstream Partners (NASDAQ:MMLPGet Rating) last released its quarterly earnings results on Wednesday, April 20th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. Martin Midstream Partners had a negative return on equity of 16.91% and a net margin of 0.89%. The business had revenue of $279.20 million during the quarter. During the same period in the prior year, the firm earned $0.06 earnings per share. Sell-side analysts forecast that Martin Midstream Partners will post 0.05 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 13th. Shareholders of record on Friday, May 6th were issued a dividend of $0.005 per share. The ex-dividend date of this dividend was Thursday, May 5th. This represents a $0.02 annualized dividend and a yield of 0.48%. Martin Midstream Partners’s dividend payout ratio is currently 9.09%.

A number of research analysts have issued reports on MMLP shares. StockNews.com started coverage on Martin Midstream Partners in a report on Saturday, March 26th. They set a “strong-buy” rating for the company. TheStreet raised Martin Midstream Partners from a “d+” rating to a “c” rating in a report on Friday, April 22nd.

In related news, Director Ruben S. Martin acquired 27,000 shares of the business’s stock in a transaction on Friday, February 25th. The stock was bought at an average cost of $3.24 per share, with a total value of $87,480.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ruben S. Martin acquired 47,740 shares of the business’s stock in a transaction on Monday, February 28th. The shares were bought at an average cost of $3.19 per share, with a total value of $152,290.60. The disclosure for this purchase can be found here. Insiders have acquired 318,777 shares of company stock worth $1,092,835 in the last quarter. Corporate insiders own 17.00% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Raymond James & Associates grew its position in shares of Martin Midstream Partners by 351.9% during the 1st quarter. Raymond James & Associates now owns 417,936 shares of the pipeline company’s stock worth $1,755,000 after buying an additional 325,461 shares during the period. BNP Paribas Arbitrage SA acquired a new position in shares of Martin Midstream Partners during the 1st quarter worth about $379,000. Morgan Stanley grew its position in shares of Martin Midstream Partners by 171.7% during the 2nd quarter. Morgan Stanley now owns 107,427 shares of the pipeline company’s stock worth $324,000 after buying an additional 67,894 shares during the period. Confluence Wealth Services Inc. acquired a new position in shares of Martin Midstream Partners during the 4th quarter worth about $180,000. Finally, Acadian Asset Management LLC acquired a new position in shares of Martin Midstream Partners during the 1st quarter worth about $140,000. 55.93% of the stock is owned by hedge funds and other institutional investors.

About Martin Midstream Partners (Get Rating)

Martin Midstream Partners L.P., together with its subsidiaries, engages in terminalling, processing, storage, and packaging of petroleum products and by-products primarily in the United States Gulf Coast region. The company's Terminalling and Storage segment owns or operates 15 marine shore-based terminal facilities and 13 specialty terminal facilities that provide storage, refining, blending, packaging, and handling services for producers and suppliers of petroleum products and by-products.

Featured Articles

Receive News & Ratings for Martin Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Martin Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.