Raymond James & Associates Sells 22,947 Shares of Martin Midstream Partners L.P. (NASDAQ:MMLP)

Raymond James & Associates reduced its stake in shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) by 3.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 583,811 shares of the pipeline company’s stock after selling 22,947 shares during the period. Raymond James & Associates’ holdings in Martin Midstream Partners were worth $1,401,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Citadel Advisors LLC bought a new stake in Martin Midstream Partners during the 3rd quarter worth approximately $39,000. Jane Street Group LLC purchased a new position in shares of Martin Midstream Partners in the 4th quarter worth approximately $43,000. HighTower Advisors LLC boosted its stake in shares of Martin Midstream Partners by 59.8% in the 4th quarter. HighTower Advisors LLC now owns 16,072 shares of the pipeline company’s stock worth $48,000 after buying an additional 6,016 shares during the last quarter. Victory Capital Management Inc. purchased a new position in shares of Martin Midstream Partners in the 4th quarter worth approximately $67,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Martin Midstream Partners in the 1st quarter worth approximately $140,000. 34.90% of the stock is owned by institutional investors.

Martin Midstream Partners Trading Up 1.9 %

Martin Midstream Partners stock opened at $2.71 on Friday. Martin Midstream Partners L.P. has a 12 month low of $1.95 and a 12 month high of $3.30. The business’s 50 day simple moving average is $2.52 and its 200 day simple moving average is $2.46. The company has a market cap of $105.69 million, a price-to-earnings ratio of 30.11 and a beta of 2.12.

Martin Midstream Partners (NASDAQ:MMLP) last posted its quarterly earnings data on Wednesday, February 14th. The pipeline company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.05. Martin Midstream Partners had a negative return on equity of 5.91% and a net margin of 0.52%. The business had revenue of $181.10 million for the quarter, compared to the consensus estimate of $177.85 million. As a group, equities research analysts forecast that Martin Midstream Partners L.P. will post 0.1 earnings per share for the current fiscal year.

Martin Midstream Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 8th will be paid a $0.005 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.02 annualized dividend and a yield of 0.74%. Martin Midstream Partners’s payout ratio is 22.22%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Martin Midstream Partners in a research note on Wednesday. They issued a “strong-buy” rating on the stock.

Martin Midstream Partners Profile

Martin Midstream Partners L.P., together with its subsidiaries, provides terminalling, processing, storage, and packaging services for petroleum products and by-products primarily in the United States. The company operates in four segments: Terminalling and Storage, Transportation, Sulfur Services, and Specialty Products.