Gardner Lewis Asset Management L P Buys New Position in Martin Midstream Partners L.P. (NASDAQ:MMLP)

Gardner Lewis Asset Management L P bought a new stake in shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 229,659 shares of the pipeline company’s stock, valued at approximately $824,000. Gardner Lewis Asset Management L P owned about 0.59% of Martin Midstream Partners at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. De Lisle Partners LLP grew its position in shares of Martin Midstream Partners by 13.0% during the 3rd 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 during the period. US Bancorp DE bought a new stake in Martin Midstream Partners during the fourth quarter valued at about $32,000. Raymond James Financial Inc. purchased a new stake in Martin Midstream Partners in the fourth quarter worth about $124,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Martin Midstream Partners by 24.4% in the fourth quarter. JPMorgan Chase & Co. now owns 713,930 shares of the pipeline company’s stock worth $2,563,000 after buying an additional 140,196 shares during the period. 34.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Martin Midstream Partners in a report on Monday. They issued a “buy” rating for the company.

Martin Midstream Partners Stock Performance

MMLP opened at $3.63 on Friday. The stock has a market cap of $141.77 million, a price-to-earnings ratio of -27.92 and a beta of 2.08. The firm’s fifty day moving average is $3.63 and its 200 day moving average is $3.76. Martin Midstream Partners L.P. has a fifty-two week low of $2.36 and a fifty-two week high of $4.13.

Martin Midstream Partners (NASDAQ:MMLP) last released its quarterly earnings data on Wednesday, February 12th. The pipeline company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.25). Martin Midstream Partners had a negative return on equity of 6.93% and a negative net margin of 0.73%. On average, equities research analysts predict that Martin Midstream Partners L.P. will post 0.15 earnings per share for the current year.

Martin Midstream Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were given a dividend of $0.005 per share. This represents a $0.02 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Friday, February 7th. Martin Midstream Partners’s payout ratio is currently -15.38%.

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.