Lee Financial Co Buys New Position in Martin Midstream Partners L.P. $MMLP

Lee Financial Co purchased a new position in shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 271,369 shares of the pipeline company’s stock, valued at approximately $830,000. Lee Financial Co owned approximately 0.69% of Martin Midstream Partners as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the company. Nomura Holdings Inc. raised its stake in shares of Martin Midstream Partners by 12.3% during the second quarter. Nomura Holdings Inc. now owns 3,837,328 shares of the pipeline company’s stock valued at $11,320,000 after purchasing an additional 420,000 shares during the period. Bank of America Corp DE grew its holdings in Martin Midstream Partners by 216.0% during the 2nd quarter. Bank of America Corp DE now owns 581,020 shares of the pipeline company’s stock valued at $1,714,000 after purchasing an additional 397,163 shares in the last quarter. Levin Capital Strategies L.P. acquired a new stake in Martin Midstream Partners during the 2nd quarter valued at $162,000. Confluence Wealth Services Inc. purchased a new stake in Martin Midstream Partners during the 2nd quarter worth $138,000. Finally, Artisan Partners Limited Partnership acquired a new position in Martin Midstream Partners in the 2nd quarter worth $99,000. Institutional investors and hedge funds own 34.90% of the company’s stock.

Martin Midstream Partners Price Performance

Shares of MMLP stock opened at $2.80 on Friday. The firm has a fifty day moving average of $2.69 and a two-hundred day moving average of $2.89. The firm has a market cap of $109.37 million, a P/E ratio of -5.38 and a beta of 0.58. Martin Midstream Partners L.P. has a 1-year low of $2.21 and a 1-year high of $3.90.

Martin Midstream Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, February 6th will be issued a dividend of $0.005 per share. This represents a $0.02 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, February 6th. Martin Midstream Partners’s dividend payout ratio (DPR) is currently -3.85%.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Martin Midstream Partners in a research note on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

About Martin Midstream Partners

Martin Midstream Partners L.P. is a publicly traded midstream energy partnership that provides storage, transportation and distribution services for petroleum and chemical products. The company’s operations encompass bulk liquid terminals, marine transportation services and handling facilities designed to support a variety of feedstocks and refined products. Through its network of terminals and pipelines, Martin Midstream serves refineries, petrochemical plants and other industrial customers, offering solutions that help optimize logistics and maintain supply chain reliability.

With core assets located along the U.S.