Martin Midstream Partners L.P. (NASDAQ:MMLP) Short Interest Down 19.3% in October

Martin Midstream Partners L.P. (NASDAQ:MMLP) was the target of a significant decline in short interest in the month of 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 shares of the company are short sold. Based on an average trading volume of 81,500 shares, the days-to-cover ratio is presently 1.4 days.

Martin Midstream Partners Price Performance

Shares of NASDAQ MMLP traded down $0.02 during trading on Friday, hitting $3.97. 91,945 shares of the company were exchanged, compared to its average volume of 79,163. The firm’s fifty day moving average price is $3.84 and its 200 day moving average price is $3.54. The company has a market cap of $154.83 million, a price-to-earnings ratio of 39.70 and a beta of 2.10. 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 issued its earnings results on Wednesday, October 16th. The pipeline company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.05). Martin Midstream Partners had a negative return on equity of 6.93% and a net margin of 0.59%. The company had revenue of $170.93 million for the quarter, compared to analyst estimates of $176.43 million. During the same quarter in the previous year, the company posted ($0.03) earnings per share. On average, research analysts forecast that Martin Midstream Partners will post 0.16 earnings per share for the current year.

Martin Midstream Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were paid a $0.005 dividend. 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 payout ratio is currently 20.00%.

Institutional Trading of Martin Midstream Partners

A number of institutional investors have recently bought and sold shares of the company. De Lisle Partners LLP grew its position in shares of Martin Midstream Partners by 13.0% in 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. Virtu Financial LLC acquired a new stake in Martin Midstream Partners during the 1st quarter valued at $55,000. Finally, Acadian Asset Management LLC purchased a new position in Martin Midstream Partners during the first quarter worth $50,000. 34.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Martin Midstream Partners in a report 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.