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 bought at an average price of $6.79 per share, for a total transaction of $13,580.00. Following the transaction, the director now owns 43,298 shares of the company’s stock, valued at $293,993.42. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of NASDAQ:MMLP traded down $0.17 during trading on Friday, hitting $6.49. 57,355 shares of the company were exchanged, compared to its average volume of 283,765. The company has a market cap of $256.74 million, a P/E ratio of -34.14, a P/E/G ratio of 6.24 and a beta of 1.09. Martin Midstream Partners L.P. has a 52-week low of $6.03 and a 52-week high of $14.55. 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 released its quarterly earnings results on Wednesday, April 24th. The pipeline company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.31). The firm had revenue of $250.97 million during the quarter, compared to the consensus estimate of $276.53 million. Martin Midstream Partners had a negative return on equity of 10.10% and a net margin of 2.78%. On average, analysts expect that Martin Midstream Partners L.P. will post 0.54 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 8th were issued a $0.25 dividend. The ex-dividend date was Tuesday, May 7th. This represents a $1.00 annualized dividend and a dividend yield of 15.41%. Martin Midstream Partners’s payout ratio is currently -526.32%.
MMLP has been the topic of several recent research reports. BidaskClub upgraded Martin Midstream Partners from a “hold” rating to a “buy” rating in a research report on Friday, March 29th. ValuEngine upgraded Martin Midstream Partners from a “hold” rating to a “buy” rating in a research report on Friday, March 1st. TheStreet downgraded Martin Midstream Partners from a “c” rating to a “d+” rating in a research report on Thursday, April 25th. Finally, Zacks Investment Research upgraded Martin Midstream Partners from a “sell” rating to a “hold” rating in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Martin Midstream Partners currently has an average rating of “Hold” and a consensus target price of $15.33.
Institutional investors have recently added to or reduced their stakes in the company. Advisor Group Inc. raised its position in shares of Martin Midstream Partners by 113.4% during the first quarter. Advisor Group Inc. now owns 3,652 shares of the pipeline company’s stock worth $46,000 after purchasing an additional 1,941 shares during the period. Jane Street Group LLC bought a new position in shares of Martin Midstream Partners during the fourth quarter worth about $109,000. Barclays PLC grew its holdings in shares of Martin Midstream Partners by 124.5% during the fourth quarter. Barclays PLC now owns 15,162 shares of the pipeline company’s stock worth $156,000 after buying an additional 8,408 shares in the last quarter. Camelot Portfolios LLC bought a new position in shares of Martin Midstream Partners during the fourth quarter worth about $180,000. Finally, Acadian Asset Management LLC bought a new position in shares of Martin Midstream Partners during the first quarter worth about $181,000. 27.25% of the stock is currently owned by hedge funds and other institutional investors.
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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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