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

Martin Midstream Partners L.P. (NASDAQ:MMLP) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 113,000 shares, a decline of 19.3% from the October 15th total of 140,100 shares. Currently, 0.4% of the company’s shares are short sold. Based on an average daily trading volume, of 81,500 shares, the days-to-cover ratio is presently 1.4 days.

Hedge Funds Weigh In On Martin Midstream Partners

A number of hedge funds have recently made changes to their positions in the stock. De Lisle Partners LLP increased its holdings in shares of Martin Midstream Partners by 13.0% during the 3rd quarter. De Lisle Partners LLP now owns 260,833 shares of the pipeline company’s stock worth $953,000 after buying an additional 30,000 shares during the last quarter. Virtu Financial LLC acquired a new stake in Martin Midstream Partners during the first quarter worth about $55,000. Finally, Acadian Asset Management LLC acquired a new stake in Martin Midstream Partners during the first quarter worth about $50,000. Institutional investors and hedge funds own 34.90% of the company’s stock.

Martin Midstream Partners Stock Performance

Martin Midstream Partners stock traded down $0.02 during trading on Friday, hitting $3.97. The company’s stock had a trading volume of 91,945 shares, compared to its average volume of 79,163. The stock has a market capitalization of $154.83 million, a price-to-earnings ratio of 39.70 and a beta of 2.10. The stock’s fifty day moving average is $3.84 and its 200 day moving average is $3.54. Martin Midstream Partners has a 1-year low of $2.04 and a 1-year high of $4.13.

Martin Midstream Partners (NASDAQ:MMLP) last posted its quarterly earnings results on Wednesday, October 16th. The pipeline company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.05). Martin Midstream Partners had a net margin of 0.59% and a negative return on equity of 6.93%. The business had revenue of $170.93 million during the quarter, compared to analysts’ expectations of $176.43 million. During the same quarter last year, the firm earned ($0.03) EPS. On average, research analysts anticipate that Martin Midstream Partners will post 0.16 EPS for the current fiscal year.

Martin Midstream Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a dividend of $0.005 per share. This represents a $0.02 annualized dividend and a yield of 0.50%. The ex-dividend date was Thursday, November 7th. Martin Midstream Partners’s dividend payout ratio (DPR) is 20.00%.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Martin Midstream Partners in a research note on Saturday. They issued a “buy” rating for the company.

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.