Raymond James & Associates Has $1.40 Million Stake in Martin Midstream Partners L.P. (NASDAQ:MMLP)

Raymond James & Associates trimmed its holdings in Martin Midstream Partners L.P. (NASDAQ:MMLP) by 3.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 583,811 shares of the pipeline company’s stock after selling 22,947 shares during the period. Raymond James & Associates owned 1.50% of Martin Midstream Partners worth $1,401,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in MMLP. Acadian Asset Management LLC acquired a new stake in shares of Martin Midstream Partners in the first quarter valued at approximately $140,000. UBS Group AG lifted its position in shares of Martin Midstream Partners by 10.6% in the first quarter. UBS Group AG now owns 41,955 shares of the pipeline company’s stock valued at $177,000 after buying an additional 4,028 shares during the last quarter. BNP Paribas Arbitrage SA acquired a new stake in shares of Martin Midstream Partners in the first quarter valued at approximately $379,000. JPMorgan Chase & Co. lifted its position in shares of Martin Midstream Partners by 0.4% in the second quarter. JPMorgan Chase & Co. now owns 690,561 shares of the pipeline company’s stock valued at $2,748,000 after buying an additional 2,458 shares during the last quarter. Finally, Citadel Advisors LLC bought a new position in shares of Martin Midstream Partners during the third quarter worth approximately $39,000. 34.90% of the stock is owned by institutional investors and hedge funds.

Martin Midstream Partners Trading Up 1.9 %

Shares of NASDAQ MMLP opened at $2.71 on Friday. The firm has a market cap of $105.69 million, a P/E ratio of 30.11 and a beta of 2.12. Martin Midstream Partners L.P. has a 1-year low of $1.95 and a 1-year high of $3.30. The business’s 50 day moving average is $2.52 and its 200-day moving average is $2.46.

Martin Midstream Partners (NASDAQ:MMLP) last announced its earnings results on Wednesday, February 14th. The pipeline company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.05. The company had revenue of $181.10 million for the quarter, compared to analyst estimates of $177.85 million. Martin Midstream Partners had a negative return on equity of 5.91% and a net margin of 0.52%. Analysts forecast that Martin Midstream Partners L.P. will post 0.1 EPS for the current year.

Martin Midstream Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 8th will be paid a dividend of $0.005 per share. The ex-dividend date is Tuesday, May 7th. This represents a $0.02 dividend on an annualized basis and a yield of 0.74%. Martin Midstream Partners’s dividend payout ratio (DPR) is presently 22.22%.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Martin Midstream Partners in a research note on Wednesday. They set a “strong-buy” rating on the stock.

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.