Short Interest in Martin Midstream Partners L.P. (NASDAQ:MMLP) Decreases By 42.7%

Martin Midstream Partners L.P. (NASDAQ:MMLP) was the recipient of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 77,100 shares, a drop of 42.7% from the February 29th total of 134,500 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average daily trading volume, of 47,400 shares, the days-to-cover ratio is presently 1.6 days.

Martin Midstream Partners Stock Down 0.8 %

Shares of NASDAQ:MMLP traded down $0.02 on Thursday, reaching $2.60. 3,320 shares of the company traded hands, compared to its average volume of 44,492. The business’s 50-day simple moving average is $2.40 and its 200 day simple moving average is $2.49. Martin Midstream Partners has a 52 week low of $1.95 and a 52 week high of $3.30.

Martin Midstream Partners (NASDAQ:MMLP) last released its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.05. The firm had revenue of $181.10 million for the quarter, compared to the consensus estimate of $177.85 million. On average, equities analysts anticipate that Martin Midstream Partners will post 0.11 earnings per share for the current year.

Martin Midstream Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, February 7th were given a $0.005 dividend. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.77%. Martin Midstream Partners’s dividend payout ratio is currently -16.67%.

Institutional Trading of Martin Midstream Partners

A number of hedge funds have recently made changes to their positions in MMLP. Raymond James & Associates lifted its stake in shares of Martin Midstream Partners by 3.3% in the third quarter. Raymond James & Associates now owns 606,758 shares of the pipeline company’s stock worth $1,687,000 after buying an additional 19,194 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Martin Midstream Partners by 1.4% in the second quarter. JPMorgan Chase & Co. now owns 558,599 shares of the pipeline company’s stock worth $1,190,000 after buying an additional 7,726 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of Martin Midstream Partners by 35.5% in the second quarter. BNP Paribas Arbitrage SA now owns 122,231 shares of the pipeline company’s stock worth $486,000 after buying an additional 31,999 shares in the last quarter. UBS Group AG lifted its stake in shares of Martin Midstream Partners by 10.6% in the first quarter. UBS Group AG now owns 41,955 shares of the pipeline company’s stock worth $177,000 after buying an additional 4,028 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in Martin Midstream Partners during the 1st quarter valued at about $140,000. 34.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Martin Midstream Partners from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 15th.

Martin Midstream Partners Company Profile

Martin Midstream Partners L.P., together with its subsidiaries, provides terminalling, processing, storage, and packaging services for petroleum products and by-products primarily in the United States. The company operates in four segments: Terminalling and Storage, Transportation, Sulfur Services, and Specialty Products.