Gardner Lewis Asset Management L P Purchases Shares of 229,659 Martin Midstream Partners L.P. (NASDAQ:MMLP)

Gardner Lewis Asset Management L P acquired a new position in Martin Midstream Partners L.P. (NASDAQ:MMLP) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 229,659 shares of the pipeline company’s stock, valued at approximately $824,000.

Several other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in shares of Martin Midstream Partners by 24.4% in the fourth quarter. JPMorgan Chase & Co. now owns 713,930 shares of the pipeline company’s stock valued at $2,563,000 after purchasing an additional 140,196 shares in the last quarter. De Lisle Partners LLP lifted its position in Martin Midstream Partners by 13.0% during the third quarter. De Lisle Partners LLP now owns 260,833 shares of the pipeline company’s stock valued at $953,000 after purchasing an additional 30,000 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Martin Midstream Partners in the 4th quarter worth $124,000. Finally, US Bancorp DE bought a new stake in shares of Martin Midstream Partners in the 4th quarter worth about $32,000. 34.90% of the stock is owned by hedge funds and other institutional investors.

Martin Midstream Partners Stock Performance

Shares of Martin Midstream Partners stock opened at $3.63 on Friday. The stock has a 50 day moving average price of $3.63 and a 200-day moving average price of $3.76. Martin Midstream Partners L.P. has a one year low of $2.36 and a one year high of $4.13. The stock has a market cap of $141.77 million, a price-to-earnings ratio of -27.92 and a beta of 2.08.

Martin Midstream Partners (NASDAQ:MMLP) last posted its quarterly earnings data on Wednesday, February 12th. The pipeline company reported ($0.22) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.25). Martin Midstream Partners had a negative return on equity of 6.93% and a negative net margin of 0.73%. Sell-side analysts predict that Martin Midstream Partners L.P. will post 0.15 earnings per share for the current fiscal year.

Martin Midstream Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were given a $0.005 dividend. This represents a $0.02 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Friday, February 7th. Martin Midstream Partners’s dividend payout ratio (DPR) is currently -15.38%.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Martin Midstream Partners in a research report on Monday. 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.