Martin Midstream Partners L.P. (NASDAQ:MMLP) Short Interest Down 27.9% in April

Martin Midstream Partners L.P. (NASDAQ:MMLP - Get Free Report) was the target of a significant drop in short interest in April. As of April 15th, there was short interest totalling 105,000 shares, a drop of 27.9% from the March 31st total of 145,700 shares. Based on an average daily trading volume, of 92,200 shares, the days-to-cover ratio is currently 1.1 days. Approximately 0.4% of the company's stock are short sold.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Martin Midstream Partners in a research report on Saturday. They set a "buy" rating on the stock.

Hedge Funds Weigh In On Martin Midstream Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE acquired a new stake in Martin Midstream Partners during the 4th quarter worth approximately $32,000. Squarepoint Ops LLC acquired a new position in shares of Martin Midstream Partners in the 4th quarter worth approximately $36,000. Pettinga Financial Advisors LLC bought a new stake in shares of Martin Midstream Partners in the 1st quarter valued at $43,000. CSS LLC IL bought a new stake in shares of Martin Midstream Partners in the 4th quarter valued at $100,000. Finally, Geode Capital Management LLC grew its holdings in Martin Midstream Partners by 24.9% during the 4th quarter. Geode Capital Management LLC now owns 29,894 shares of the pipeline company's stock worth $107,000 after acquiring an additional 5,966 shares during the period. Institutional investors own 34.90% of the company's stock.

Martin Midstream Partners Stock Performance

NASDAQ:MMLP traded down $0.01 during mid-day trading on Monday, hitting $3.05. 7,745 shares of the stock were exchanged, compared to its average volume of 102,314. The firm's 50-day simple moving average is $3.28 and its 200 day simple moving average is $3.60. Martin Midstream Partners has a fifty-two week low of $2.56 and a fifty-two week high of $4.13. The stock has a market capitalization of $118.92 million, a price-to-earnings ratio of -23.36 and a beta of 1.75.

Martin Midstream Partners (NASDAQ:MMLP - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The pipeline company reported ($0.01) earnings per share 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 net margin of 0.73% and a negative return on equity of 6.93%. During the same period in the prior year, the firm earned $0.08 earnings per share. On average, analysts predict that Martin Midstream Partners will post 0.15 EPS for the current fiscal year.

Martin Midstream Partners Dividend Announcement

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

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.