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

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

Analysts Set New Price Targets

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

Martin Midstream Partners Stock Performance

Shares of NASDAQ MMLP traded down $0.02 during midday trading on Thursday, hitting $2.60. The stock had a trading volume of 3,320 shares, compared to its average volume of 44,492. The stock has a 50 day simple moving average of $2.40 and a 200-day simple moving average of $2.49. Martin Midstream Partners has a 1 year low of $1.95 and a 1 year high of $3.30.

Martin Midstream Partners (NASDAQ:MMLP) last released its earnings results on Wednesday, February 14th. The pipeline company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.05. The business had revenue of $181.10 million during the quarter, compared to analysts’ expectations of $177.85 million. As a group, equities research analysts anticipate that Martin Midstream Partners will post 0.11 EPS for the current fiscal year.

Martin Midstream Partners Announces Dividend

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

Institutional Investors Weigh In On Martin Midstream Partners

A number of institutional investors and hedge funds have recently made changes to their positions in MMLP. Raymond James & Associates raised its stake in shares of Martin Midstream Partners by 351.9% in the 1st quarter. Raymond James & Associates now owns 417,936 shares of the pipeline company’s stock valued at $1,755,000 after acquiring an additional 325,461 shares during the period. Acadian Asset Management LLC purchased a new stake in Martin Midstream Partners during the first quarter worth about $140,000. UBS Group AG raised its stake in Martin Midstream Partners by 10.6% in the first quarter. UBS Group AG now owns 41,955 shares of the pipeline company’s stock valued at $177,000 after buying an additional 4,028 shares in the last quarter. BNP Paribas Arbitrage SA acquired a new stake in Martin Midstream Partners during the 1st quarter worth $379,000. Finally, JPMorgan Chase & Co. raised its stake in Martin Midstream Partners by 0.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 690,561 shares of the pipeline company’s stock worth $2,748,000 after acquiring an additional 2,458 shares in the last quarter. 34.90% of the stock is owned by hedge funds and other institutional investors.

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.