271,369 Shares in Martin Midstream Partners L.P. $MMLP Bought by Lee Financial Co

Lee Financial Co bought a new stake in shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 271,369 shares of the pipeline company’s stock, valued at approximately $830,000.

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

Martin Midstream Partners Stock Up 1.1%

Shares of NASDAQ:MMLP opened at $2.80 on Friday. The company’s 50-day moving average price is $2.69 and its 200 day moving average price is $2.89. The company has a market cap of $109.37 million, a PE ratio of -5.38 and a beta of 0.58. Martin Midstream Partners L.P. has a fifty-two week low of $2.21 and a fifty-two week high of $3.90.

Martin Midstream Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders 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 dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, February 6th. Martin Midstream Partners’s payout ratio is -3.85%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Martin Midstream Partners in a research report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Martin Midstream Partners presently has a consensus rating of “Sell”.

Martin Midstream Partners Company Profile

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.