Martin Midstream Partners L.P. (NASDAQ:MMLP) Short Interest Down 20.6% in March

Martin Midstream Partners L.P. (NASDAQ:MMLP - Get Free Report) was the target of a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 61,200 shares, a drop of 20.6% from the March 15th total of 77,100 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily volume of 44,800 shares, the days-to-cover ratio is currently 1.4 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Martin Midstream Partners from a "buy" rating to a "strong-buy" rating in a research note on Thursday, February 15th.

Martin Midstream Partners Stock Performance

Martin Midstream Partners stock traded down $0.03 during trading on Friday, reaching $2.53. The company had a trading volume of 60,427 shares, compared to its average volume of 40,940. The firm's 50-day simple moving average is $2.48 and its 200 day simple moving average is $2.46. Martin Midstream Partners has a 1-year low of $1.95 and a 1-year high of $3.30. The firm has a market capitalization of $98.67 million, a PE ratio of -21.08 and a beta of 2.12.

Martin Midstream Partners (NASDAQ:MMLP - Get Free Report) last announced its quarterly earnings data on Wednesday, February 14th. The pipeline company reported $0.01 earnings per share for the quarter, beating analysts' consensus estimates of ($0.04) by $0.05. The firm had revenue of $181.10 million during the quarter, compared to analysts' expectations of $177.85 million. Analysts anticipate that Martin Midstream Partners will post 0.11 EPS for the current year.

Martin Midstream Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Wednesday, February 7th were issued a $0.005 dividend. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $0.02 dividend on an annualized basis and a yield of 0.79%. Martin Midstream Partners's payout ratio is currently -16.67%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James & Associates lifted its holdings in Martin Midstream Partners by 3.3% in the 3rd quarter. Raymond James & Associates now owns 606,758 shares of the pipeline company's stock valued at $1,687,000 after purchasing an additional 19,194 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Martin Midstream Partners by 1.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 558,599 shares of the pipeline company's stock worth $1,190,000 after acquiring an additional 7,726 shares during the period. BNP Paribas Arbitrage SA raised its holdings in shares of Martin Midstream Partners by 35.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 122,231 shares of the pipeline company's stock worth $486,000 after acquiring an additional 31,999 shares during the period. UBS Group AG raised its holdings in shares of Martin Midstream Partners by 10.6% during the 1st quarter. UBS Group AG now owns 41,955 shares of the pipeline company's stock worth $177,000 after acquiring an additional 4,028 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in shares of Martin Midstream Partners during the 1st quarter worth $140,000. Hedge funds and other institutional investors own 34.90% of the company's stock.

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.