C Scott Massey Acquires 2,000 Shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) Stock

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.

COPYRIGHT VIOLATION WARNING: “C Scott Massey Acquires 2,000 Shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) Stock” was first posted by Stock Observer and is owned by of Stock Observer. If you are reading this news story on another website, it was illegally copied and reposted in violation of international copyright & trademark laws. The original version of this news story can be read at https://www.thestockobserver.com/2019/06/14/c-scott-massey-acquires-2000-shares-of-martin-midstream-partners-l-p-nasdaqmmlp-stock.html.

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.

Further Reading: Why do companies engage in swaps?

Insider Buying and Selling by Quarter for Martin Midstream Partners (NASDAQ:MMLP)

Receive News & Ratings for Martin Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Martin Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.