Martin Midstream Partners (NASDAQ:MMLP) Downgraded to “Hold” at StockNews.com

StockNews.com downgraded shares of Martin Midstream Partners (NASDAQ:MMLP – Get Rating) from a buy rating to a hold rating in a report released on Monday morning.

Martin Midstream Partners Trading Down 4.0 %

Shares of MMLP stock opened at $2.66 on Monday. The stock’s 50-day moving average price is $2.94 and its 200-day moving average price is $3.23. Martin Midstream Partners has a 12-month low of $2.45 and a 12-month high of $5.98. The stock has a market capitalization of $103.53 million, a price-to-earnings ratio of -10.23 and a beta of 2.01.

Martin Midstream Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 14th. Stockholders of record on Tuesday, February 7th were given a dividend of $0.005 per share. The ex-dividend date of this dividend was Monday, February 6th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.75%. Martin Midstream Partners’s dividend payout ratio is currently -7.69%.

Institutional Investors Weigh In On Martin Midstream Partners

A number of hedge funds have recently bought and sold shares of the business. Raymond James & Associates increased its holdings 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 worth $1,755,000 after buying an additional 325,461 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Martin Midstream Partners by 35.5% during the second quarter. BNP Paribas Arbitrage SA now owns 122,231 shares of the pipeline company’s stock worth $486,000 after acquiring an additional 31,999 shares during the last quarter. UBS Group AG raised its position in Martin Midstream Partners by 10.6% during the first quarter. UBS Group AG now owns 41,955 shares of the pipeline company’s stock valued at $177,000 after purchasing an additional 4,028 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Martin Midstream Partners in the 1st quarter valued at approximately $140,000. Finally, Victory Capital Management Inc. purchased a new position in shares of Martin Midstream Partners in the 4th quarter worth approximately $67,000. Hedge funds and other institutional investors own 34.96% of the company’s stock.

About Martin Midstream Partners

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Martin Midstream Partners LP engages in a diverse set of operations focused primarily in the United States Gulf Coast region. It operates through the following segments: Terminalling and Storage, Transportation, Sulfur Services, and Natural Gas Liquids. The Terminalling and Storage segment offers storage, refining, blending, packaging, and handling services for producers and suppliers of petroleum products and by-products, including the refining of naphthenic crude oil and the blending and packaging of various grades and quantities of industrial, commercial, and automotive lubricants and greases.