Martin Midstream Partners L.P. (NASDAQ:MMLP) Short Interest Down 19.3% in October

Martin Midstream Partners L.P. (NASDAQ:MMLP - Get Free Report) was the target of a significant drop in short interest in October. As of October 31st, there was short interest totalling 113,000 shares, a drop of 19.3% from the October 15th total of 140,100 shares. Approximately 0.4% of the company's shares are short sold. Based on an average trading volume of 81,500 shares, the short-interest ratio is presently 1.4 days.

Martin Midstream Partners Stock Performance

NASDAQ:MMLP remained flat at $3.99 during trading hours on Friday. The company had a trading volume of 74,592 shares, compared to its average volume of 79,085. Martin Midstream Partners has a 52-week low of $2.04 and a 52-week high of $4.13. The stock has a market cap of $155.61 million, a price-to-earnings ratio of 39.90 and a beta of 2.10. The stock has a fifty day moving average price of $3.83 and a two-hundred day moving average price of $3.52.

Martin Midstream Partners (NASDAQ:MMLP - Get Free Report) last issued its earnings results on Wednesday, October 16th. The pipeline company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.05). Martin Midstream Partners had a net margin of 0.59% and a negative return on equity of 6.93%. The business had revenue of $170.93 million during the quarter, compared to analyst estimates of $176.43 million. During the same quarter in the prior year, the company earned ($0.03) EPS. As a group, research analysts predict that Martin Midstream Partners will post 0.16 EPS for the current year.

Martin Midstream Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were issued a dividend of $0.005 per share. This represents a $0.02 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Thursday, November 7th. Martin Midstream Partners's dividend payout ratio is currently 20.00%.

Hedge Funds Weigh In On Martin Midstream Partners

Hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC acquired a new position in Martin Midstream Partners in the 1st quarter worth about $50,000. Virtu Financial LLC bought a new stake in shares of Martin Midstream Partners in the 1st quarter valued at approximately $55,000. Finally, De Lisle Partners LLP raised its position in Martin Midstream Partners by 13.0% during the third quarter. De Lisle Partners LLP now owns 260,833 shares of the pipeline company's stock valued at $953,000 after acquiring an additional 30,000 shares in the last quarter. 34.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of Martin Midstream Partners in a research note on Friday, November 8th. They issued 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.