According to Zacks, “Martin Midstream is a limited partnership which stores and transports hydrocarbon products and specialty chemicals, primarily in the Gulf Coast. It runs a marine transportation business, mostly barges and tugs, and operates storage tanks. “
MMLP has been the topic of several other reports. ValuEngine raised Zynerba Pharmaceuticals from a sell rating to a hold rating in a research report on Monday, April 1st. TheStreet lowered Trinity Industries from a b rating to a c rating in a research report on Thursday, April 25th. Finally, BidaskClub raised Zynerba Pharmaceuticals from a hold rating to a buy rating in a research report on Thursday, July 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Martin Midstream Partners currently has an average rating of Hold and a consensus target price of $15.33.
NASDAQ:MMLP traded up $0.13 during mid-day trading on Tuesday, hitting $7.15. 100 shares of the company’s stock traded hands, compared to its average volume of 136,559. The stock has a fifty day moving average of $6.79. Martin Midstream Partners has a twelve month low of $6.03 and a twelve month high of $14.32. The company has a market cap of $273.08 million, a P/E ratio of -37.42, a P/E/G ratio of 6.70 and a beta of 1.09. The company has a quick ratio of 0.22, a current ratio of 0.36 and a debt-to-equity ratio of 2.31.
Martin Midstream Partners (NASDAQ:MMLP) last announced its earnings results on Wednesday, April 24th. The pipeline company reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.31). Martin Midstream Partners had a net margin of 2.78% and a negative return on equity of 10.10%. The business had revenue of $250.97 million for the quarter, compared to analyst estimates of $276.53 million. Analysts expect that Martin Midstream Partners will post 0.54 earnings per share for the current year.
In related news, insider Randall Tauscher bought 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were purchased at an average cost of $6.81 per share, with a total value of $136,200.00. Following the completion of the acquisition, the insider now directly owns 72,371 shares in the company, valued at $492,846.51. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert D. Bondurant bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were bought at an average cost of $6.67 per share, for a total transaction of $66,700.00. Following the completion of the acquisition, the chief financial officer now owns 78,101 shares of the company’s stock, valued at $520,933.67. The disclosure for this purchase can be found here. Insiders bought 44,285 shares of company stock worth $306,465 over the last three months. Corporate insiders own 17.00% of the company’s stock.
A number of hedge funds have recently modified their holdings of MMLP. Virtu Financial LLC purchased a new position in shares of Martin Midstream Partners in the first quarter valued at approximately $418,000. Geode Capital Management LLC lifted its holdings in Martin Midstream Partners by 97.1% during the 4th quarter. Geode Capital Management LLC now owns 44,483 shares of the pipeline company’s stock worth $457,000 after buying an additional 21,909 shares during the last quarter. Sippican Capital Advisors purchased a new stake in Martin Midstream Partners during the 1st quarter worth about $189,000. JPMorgan Chase & Co. lifted its holdings in Martin Midstream Partners by 1.9% during the 1st quarter. JPMorgan Chase & Co. now owns 686,501 shares of the pipeline company’s stock worth $8,547,000 after buying an additional 12,740 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in Martin Midstream Partners during the 4th quarter worth about $109,000. Institutional investors own 27.24% of the company’s stock.
About Martin Midstream Partners
Martin Midstream Partners L.P. collects, transports, stores, and markets petroleum products and by-products in the United States Gulf Coast region. The company's Terminalling and Storage segment owns or operates 19 marine shore-based terminal facilities and 14 specialty terminal facilities that provide storage, refining, blending, packaging, and handling services for producers and suppliers of petroleum products and by-products.
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