Insider Buying: Martin Midstream Partners L.P. (NASDAQ:MMLP) Director Buys $29,611.08 in Stock

Martin Midstream Partners L.P. (NASDAQ:MMLP) Director Ruben S. Martin bought 11,892 shares of the stock in a transaction dated Monday, November 13th. The shares were acquired at an average price of $2.49 per share, with a total value of $29,611.08. Following the completion of the purchase, the director now directly owns 3,668,521 shares of the company’s stock, valued at $9,134,617.29. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Martin Midstream Partners Price Performance

Shares of MMLP stock opened at $2.51 on Friday. The firm has a fifty day moving average of $2.60 and a two-hundred day moving average of $2.45. Martin Midstream Partners L.P. has a 1-year low of $1.95 and a 1-year high of $3.39.

Martin Midstream Partners (NASDAQ:MMLP) last announced its quarterly earnings data on Wednesday, October 18th. The pipeline company reported ($0.03) earnings per share for the quarter. The company had revenue of $176.70 million during the quarter.

Martin Midstream Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Tuesday, November 7th were issued a $0.005 dividend. This represents a $0.02 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend was Monday, November 6th. Martin Midstream Partners’s dividend payout ratio is presently -14.28%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Martin Midstream Partners from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 20th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Citadel Advisors LLC acquired a new stake in Martin Midstream Partners during the third quarter worth about $39,000. Jane Street Group LLC bought a new stake in shares of Martin Midstream Partners in the 4th quarter worth approximately $43,000. HighTower Advisors LLC boosted its position in Martin Midstream Partners by 59.8% during the 4th quarter. HighTower Advisors LLC now owns 16,072 shares of the pipeline company’s stock valued at $48,000 after purchasing an additional 6,016 shares during the period. Victory Capital Management Inc. acquired a new stake in Martin Midstream Partners in the fourth quarter worth $67,000. Finally, Acadian Asset Management LLC bought a new stake in Martin Midstream Partners in the first quarter valued at $140,000. 60.70% of the stock is currently owned by 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 Natural Gas Liquids.