StockNews.com Downgrades Martin Midstream Partners (NASDAQ:MMLP) to Buy

Martin Midstream Partners (NASDAQ:MMLP) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Wednesday.

Martin Midstream Partners Trading Down 2.5 %

MMLP stock traded down $0.10 during midday trading on Wednesday, hitting $3.95. The stock had a trading volume of 171,677 shares, compared to its average volume of 78,329. Martin Midstream Partners has a 52 week low of $2.04 and a 52 week high of $4.13. The stock has a 50-day simple moving average of $3.35 and a 200 day simple moving average of $2.83. The firm has a market capitalization of $154.05 million, a price-to-earnings ratio of 43.89 and a beta of 2.21.

Martin Midstream Partners (NASDAQ:MMLP) last released its quarterly earnings data on Wednesday, July 17th. The pipeline company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $184.53 million during the quarter, compared to the consensus estimate of $193.91 million. Martin Midstream Partners had a net margin of 0.90% and a negative return on equity of 10.46%. During the same period last year, the firm earned $0.03 EPS. On average, equities analysts forecast that Martin Midstream Partners will post 0.13 EPS for the current year.

Institutional Trading of Martin Midstream Partners

A number of large investors have recently bought and sold shares of the stock. American National Bank acquired a new stake in shares of Martin Midstream Partners in the 1st quarter valued at $35,000. Acadian Asset Management LLC bought a new stake in Martin Midstream Partners during the first quarter worth about $50,000. Virtu Financial LLC acquired a new stake in shares of Martin Midstream Partners during the first quarter worth approximately $55,000. Finally, Victory Capital Management Inc. raised its stake in shares of Martin Midstream Partners by 33.6% in the fourth quarter. Victory Capital Management Inc. now owns 29,793 shares of the pipeline company’s stock valued at $72,000 after acquiring an additional 7,500 shares during the last quarter. 34.90% of the stock is currently owned by institutional investors.

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.