Advisors Asset Management Inc. reduced its stake in shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) by 7.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,844 shares of the company’s stock after selling 3,664 shares during the period. Advisors Asset Management Inc. owned 0.13% of Martin Midstream Partners L.P. worth $1,082,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of MMLP. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Martin Midstream Partners L.P. by 22.7% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,320 shares of the company’s stock valued at $106,000 after buying an additional 984 shares in the last quarter. Ausdal Financial Partners Inc. purchased a new stake in shares of Martin Midstream Partners L.P. during the second quarter valued at approximately $214,000. Winslow Evans & Crocker Inc. increased its stake in shares of Martin Midstream Partners L.P. by 10.6% in the second quarter. Winslow Evans & Crocker Inc. now owns 9,422 shares of the company’s stock valued at $218,000 after buying an additional 904 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Martin Midstream Partners L.P. by 30.4% in the first quarter. Geode Capital Management LLC now owns 18,938 shares of the company’s stock valued at $379,000 after buying an additional 4,420 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Martin Midstream Partners L.P. by 3.9% in the first quarter. State Street Corp now owns 24,665 shares of the company’s stock valued at $496,000 after buying an additional 924 shares in the last quarter.

Martin Midstream Partners L.P. (NASDAQ:MMLP) traded up 0.80% during trading on Tuesday, hitting $20.13. 63,532 shares of the company’s stock traded hands. The company’s 50 day moving average is $20.40 and its 200-day moving average is $21.45. The stock has a market cap of $713.69 million, a P/E ratio of 81.50 and a beta of 1.31. Martin Midstream Partners L.P. has a 12 month low of $13.27 and a 12 month high of $29.90.

Martin Midstream Partners L.P. (NASDAQ:MMLP) last issued its quarterly earnings data on Wednesday, July 27th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.24 by $0.38. The firm had revenue of $190.35 million for the quarter, compared to analysts’ expectations of $225.13 million. The company’s revenue was down 24.2% on a year-over-year basis. During the same period last year, the business posted $0.19 earnings per share. On average, analysts predict that Martin Midstream Partners L.P. will post $0.56 earnings per share for the current year.

Several analysts have recently commented on MMLP shares. Zacks Investment Research upgraded Martin Midstream Partners L.P. from a “sell” rating to a “hold” rating in a research note on Tuesday, July 5th. Janney Montgomery Scott started coverage on Martin Midstream Partners L.P. in a research note on Friday. They set a “neutral” rating and a $22.00 price target for the company. Finally, FBR & Co started coverage on Martin Midstream Partners L.P. in a research note on Friday, September 9th. They set an “outperform” rating and a $27.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $21.00.

Martin Midstream Partners L.P. Company Profile

Martin Midstream Partners L.P. is a limited partnership company with operations focused in the United States Gulf Coast region. The Company’s segments include Terminalling and Storage, Natural Gas Services, Sulfur Services and Marine Transportation. The Company owns or operates approximately 30 marine shore-based terminal facilities and over 20 specialty terminal facilities located in the United States.

5 Day Chart for NASDAQ:MMLP

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