Martin Midstream Partners L.P. (NASDAQ:MMLP) Sees Large Increase in Short Interest

Martin Midstream Partners L.P. (NASDAQ:MMLPGet Rating) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 135,400 shares, an increase of 5.6% from the August 15th total of 128,200 shares. Approximately 0.5% of the company’s stock are sold short. Based on an average daily trading volume, of 70,500 shares, the days-to-cover ratio is presently 1.9 days.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC acquired a new position in shares of Martin Midstream Partners during the 1st quarter worth $140,000. UBS Group AG increased its stake in shares of Martin Midstream Partners by 10.6% during the 1st quarter. UBS Group AG now owns 41,955 shares of the pipeline company’s stock worth $177,000 after purchasing an additional 4,028 shares during the last quarter. Apollon Wealth Management LLC acquired a new position in shares of Martin Midstream Partners during the 2nd quarter worth $199,000. BNP Paribas Arbitrage SA acquired a new position in shares of Martin Midstream Partners during the 1st quarter worth $379,000. Finally, Raymond James & Associates increased its stake in shares of Martin Midstream Partners by 713.9% during the 4th quarter. Raymond James & Associates now owns 92,475 shares of the pipeline company’s stock worth $246,000 after purchasing an additional 81,113 shares during the last quarter. Institutional investors and hedge funds own 34.59% of the company’s stock.

Martin Midstream Partners Stock Performance

Martin Midstream Partners stock opened at $3.83 on Tuesday. The firm has a market cap of $148.80 million, a PE ratio of 6.84 and a beta of 2.10. The firm’s 50 day moving average price is $4.07 and its two-hundred day moving average price is $4.23. Martin Midstream Partners has a twelve month low of $2.52 and a twelve month high of $5.98.

Martin Midstream Partners (NASDAQ:MMLPGet Rating) last released its quarterly earnings data on Wednesday, July 20th. The pipeline company reported $0.17 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.18. The firm had revenue of $267.00 million for the quarter. Martin Midstream Partners had a net margin of 2.08% and a negative return on equity of 48.01%. Equities analysts anticipate that Martin Midstream Partners will post 0.05 EPS for the current fiscal year.

Martin Midstream Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, August 5th were paid a dividend of $0.005 per share. The ex-dividend date of this dividend was Thursday, August 4th. This represents a $0.02 annualized dividend and a dividend yield of 0.52%. Martin Midstream Partners’s dividend payout ratio (DPR) is 3.57%.

Martin Midstream Partners Company Profile

(Get Rating)

Martin Midstream Partners L.P., together with its subsidiaries, engages in terminalling, processing, storage, and packaging of petroleum products and by-products primarily in the United States Gulf Coast region. The company's Terminalling and Storage segment owns or operates 15 marine shore-based terminal facilities and 13 specialty terminal facilities that provide storage, refining, blending, packaging, and handling services for producers and suppliers of petroleum products and by-products.

Further Reading

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