Tiptree Advisors LLC Invests $524,000 in Martin Midstream Partners L.P. (NASDAQ:MMLP)

Tiptree Advisors LLC bought a new stake in shares of Martin Midstream Partners L.P. (NASDAQ:MMLP - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 145,938 shares of the pipeline company's stock, valued at approximately $524,000. Martin Midstream Partners accounts for about 0.5% of Tiptree Advisors LLC's investment portfolio, making the stock its 17th largest position. Tiptree Advisors LLC owned about 0.37% of Martin Midstream Partners as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MMLP. Nomura Holdings Inc. purchased a new stake in shares of Martin Midstream Partners during the fourth quarter worth about $3,360,000. JPMorgan Chase & Co. increased its stake in shares of Martin Midstream Partners by 24.4% during the fourth quarter. JPMorgan Chase & Co. now owns 713,930 shares of the pipeline company's stock worth $2,563,000 after purchasing an additional 140,196 shares in the last quarter. Nexpoint Asset Management L.P. purchased a new stake in shares of Martin Midstream Partners during the fourth quarter worth about $1,636,000. Gardner Lewis Asset Management L P purchased a new stake in shares of Martin Midstream Partners during the fourth quarter worth about $824,000. Finally, Toronto Dominion Bank purchased a new stake in shares of Martin Midstream Partners during the fourth quarter worth about $233,000. 34.90% of the stock is currently owned by institutional investors and hedge funds.

Martin Midstream Partners Stock Up 1.0%

NASDAQ:MMLP traded up $0.03 on Thursday, hitting $3.05. The stock had a trading volume of 21,137 shares, compared to its average volume of 98,541. The stock has a market cap of $99.13 million, a price-to-earnings ratio of -23.46 and a beta of 0.70. The company has a fifty day moving average price of $3.03 and a two-hundred day moving average price of $3.49. 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 issued its quarterly earnings data on Wednesday, April 16th. The pipeline company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). The company had revenue of $192.54 million during the quarter, compared to analyst estimates of $187.13 million. Martin Midstream Partners had a negative return on equity of 6.93% and a negative net margin of 0.73%. During the same quarter in the prior year, the company posted $0.08 earnings per share. As a group, analysts anticipate that Martin Midstream Partners L.P. will post 0.15 earnings per share for the current year.

Martin Midstream Partners Announces Dividend

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

Wall Street Analysts Forecast Growth

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

Martin Midstream Partners 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.