Martin Midstream Partners L.P. (NASDAQ:MMLP) Director C Scott Massey bought 2,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were acquired at an average price of $6.79 per share, with a total value of $13,580.00. Following the transaction, the director now directly owns 43,298 shares of the company’s stock, valued at $293,993.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of NASDAQ:MMLP traded up $0.08 during trading hours on Wednesday, hitting $6.71. 220,751 shares of the company’s stock traded hands, compared to its average volume of 269,248. Martin Midstream Partners L.P. has a 1 year low of $6.03 and a 1 year high of $14.55. The firm has a market capitalization of $264.52 million, a PE ratio of -35.32, a price-to-earnings-growth ratio of 6.00 and a beta of 1.09. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.36 and a quick ratio of 0.22.
Martin Midstream Partners (NASDAQ:MMLP) last posted its quarterly earnings results on Wednesday, April 24th. The pipeline company reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.31). Martin Midstream Partners had a net margin of 2.78% and a negative return on equity of 10.10%. The company had revenue of $250.97 million for the quarter, compared to the consensus estimate of $276.53 million. Equities research analysts expect that Martin Midstream Partners L.P. will post 0.52 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 8th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 14.90%. The ex-dividend date was Tuesday, May 7th. Martin Midstream Partners’s dividend payout ratio is presently -526.32%.
Several institutional investors have recently bought and sold shares of MMLP. Morgan Stanley raised its stake in shares of Martin Midstream Partners by 688.4% during the first quarter. Morgan Stanley now owns 290,285 shares of the pipeline company’s stock valued at $3,614,000 after acquiring an additional 253,466 shares in the last quarter. Jane Street Group LLC raised its stake in shares of Martin Midstream Partners by 471.8% during the first quarter. Jane Street Group LLC now owns 60,528 shares of the pipeline company’s stock valued at $754,000 after acquiring an additional 49,943 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Martin Midstream Partners during the first quarter valued at approximately $418,000. HighTower Advisors LLC bought a new stake in shares of Martin Midstream Partners during the first quarter valued at approximately $289,000. Finally, Geode Capital Management LLC raised its stake in shares of Martin Midstream Partners by 97.1% during the fourth quarter. Geode Capital Management LLC now owns 44,483 shares of the pipeline company’s stock valued at $457,000 after acquiring an additional 21,909 shares in the last quarter. 27.25% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have issued reports on the company. BidaskClub lowered Martin Midstream Partners from a “sell” rating to a “strong sell” rating in a research report on Tuesday, April 30th. TheStreet lowered Martin Midstream Partners from a “c” rating to a “d+” rating in a research report on Thursday, April 25th. Zacks Investment Research upgraded Martin Midstream Partners from a “sell” rating to a “hold” rating in a research report on Thursday, April 25th. Finally, ValuEngine lowered Martin Midstream Partners from a “buy” rating to a “hold” rating in a research report on Monday, April 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Martin Midstream Partners currently has a consensus rating of “Hold” and a consensus target price of $15.33.
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About Martin Midstream Partners
Martin Midstream Partners L.P. collects, transports, stores, and markets petroleum products and by-products in the United States Gulf Coast region. The company's Terminalling and Storage segment owns or operates 19 marine shore-based terminal facilities and 14 specialty terminal facilities that provide storage, refining, blending, packaging, and handling services for producers and suppliers of petroleum products and by-products.
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