Tiptree Advisors LLC Takes Position in Martin Midstream Partners L.P. (NASDAQ:MMLP)

Tiptree Advisors LLC purchased a new position in Martin Midstream Partners L.P. (NASDAQ:MMLP - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 145,938 shares of the pipeline company's stock, valued at approximately $524,000. Martin Midstream Partners accounts for 0.5% of Tiptree Advisors LLC's holdings, making the stock its 17th biggest position. Tiptree Advisors LLC owned approximately 0.37% of Martin Midstream Partners at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Toronto Dominion Bank purchased a new position in shares of Martin Midstream Partners in the 4th quarter valued at $233,000. CSS LLC IL acquired a new stake in shares of Martin Midstream Partners in the 4th quarter worth $100,000. Squarepoint Ops LLC acquired a new stake in Martin Midstream Partners during the 4th quarter worth about $36,000. Nomura Holdings Inc. acquired a new stake in Martin Midstream Partners during the 4th quarter worth about $3,360,000. Finally, Bank of America Corp DE lifted its position in Martin Midstream Partners by 922.4% during the 4th quarter. Bank of America Corp DE now owns 40,232 shares of the pipeline company's stock worth $144,000 after acquiring an additional 36,297 shares during the period. 34.90% of the stock is currently owned by hedge funds and other institutional investors.

Martin Midstream Partners Stock Performance

Shares of Martin Midstream Partners stock traded down $0.04 on Friday, hitting $3.01. The company's stock had a trading volume of 11,288 shares, compared to its average volume of 98,004. The firm has a fifty day moving average price of $3.01 and a 200-day moving average price of $3.48. The company has a market capitalization of $97.83 million, a price-to-earnings ratio of -23.15 and a beta of 0.70. Martin Midstream Partners L.P. has a 1 year low of $2.56 and a 1 year high of $4.13.

Martin Midstream Partners (NASDAQ:MMLP - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The pipeline company reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.03). Martin Midstream Partners had a negative net margin of 0.73% and a negative return on equity of 6.93%. The business had revenue of $192.54 million during the quarter, compared to analyst estimates of $187.13 million. During the same quarter in the prior year, the company posted $0.08 earnings per share. As a group, analysts forecast that Martin Midstream Partners L.P. will post 0.15 EPS for the current year.

Martin Midstream Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 8th were issued a $0.005 dividend. This represents a $0.02 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Thursday, May 8th. Martin Midstream Partners's dividend payout ratio is presently -8.33%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen began coverage on Martin Midstream Partners in a research report on Monday, May 19th. They set a "buy" rating for the company.

About Martin Midstream Partners

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.