Insider Buying: Martin Midstream Partners L.P. (MMLP) Insider Acquires 5,000 Shares of Stock

Martin Midstream Partners L.P. (NASDAQ:MMLP) insider Ruben S. Martin bought 5,000 shares of the firm’s stock in a transaction on Tuesday, November 14th. The shares were purchased at an average price of $13.61 per share, for a total transaction of $68,050.00. Following the purchase, the insider now owns 140,598 shares in the company, valued at approximately $1,913,538.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Martin Midstream Partners L.P. (MMLP) traded down $0.25 during trading on Tuesday, hitting $14.20. 228,200 shares of the stock traded hands, compared to its average volume of 154,563. The company has a market capitalization of $527.68, a PE ratio of 20.64 and a beta of 1.57. The company has a debt-to-equity ratio of 2.78, a quick ratio of 0.86 and a current ratio of 2.04. Martin Midstream Partners L.P. has a 52-week low of $13.90 and a 52-week high of $20.90.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Tuesday, November 7th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 14.08%. The ex-dividend date of this dividend is Monday, November 6th. Martin Midstream Partners L.P.’s payout ratio is currently 434.78%.

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A number of equities research analysts have commented on MMLP shares. Zacks Investment Research upgraded shares of Martin Midstream Partners L.P. from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Wednesday, September 27th. BidaskClub upgraded shares of Martin Midstream Partners L.P. from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Royal Bank Of Canada restated a “hold” rating and set a $18.00 target price on shares of Martin Midstream Partners L.P. in a research note on Friday, October 27th. Stifel Nicolaus decreased their target price on shares of Martin Midstream Partners L.P. from $19.00 to $17.00 and set a “hold” rating on the stock in a research note on Thursday, October 26th. Finally, Robert W. Baird restated a “hold” rating and set a $20.00 target price on shares of Martin Midstream Partners L.P. in a research note on Thursday, August 24th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $19.60.

Institutional investors have recently added to or reduced their stakes in the company. CNH Partners LLC raised its position in shares of Martin Midstream Partners L.P. by 62.3% during the second quarter. CNH Partners LLC now owns 30,468 shares of the pipeline company’s stock valued at $535,000 after buying an additional 11,700 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Martin Midstream Partners L.P. by 20.0% during the second quarter. Goldman Sachs Group Inc. now owns 462,442 shares of the pipeline company’s stock valued at $8,116,000 after buying an additional 77,177 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Martin Midstream Partners L.P. by 61.1% during the first quarter. Ameriprise Financial Inc. now owns 19,753 shares of the pipeline company’s stock valued at $395,000 after buying an additional 7,493 shares during the last quarter. Royal Bank of Canada raised its position in shares of Martin Midstream Partners L.P. by 1.9% during the second quarter. Royal Bank of Canada now owns 32,617 shares of the pipeline company’s stock valued at $573,000 after buying an additional 602 shares during the last quarter. Finally, Bollard Group LLC raised its position in shares of Martin Midstream Partners L.P. by 0.3% during the second quarter. Bollard Group LLC now owns 63,708 shares of the pipeline company’s stock valued at $1,118,000 after buying an additional 193 shares during the last quarter. Hedge funds and other institutional investors own 32.55% of the company’s stock.

Martin Midstream Partners L.P. Company Profile

Martin Midstream Partners L.P. is a limited partnership with a set of operations focused in the United States Gulf Coast region. The Company’s four business lines include terminalling and storage services for petroleum products and by-products, including the refining of naphthenic crude oil and the blending and packaging of finished lubricants; natural gas services, including liquids transportation and distribution services, and natural gas storage; sulfur and sulfur-based products processing, manufacturing, marketing and distribution, and marine transportation services for petroleum products and by-products.

Insider Buying and Selling by Quarter for Martin Midstream Partners L.P. (NASDAQ:MMLP)

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