Shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) fell 3% during mid-day trading on Tuesday . The stock traded as low as $19.49 and last traded at $19.69, with a volume of 249,306 shares changing hands. The stock had previously closed at $20.30.

Separately, Zacks Investment Research downgraded Martin Midstream Partners L.P. from a “hold” rating to a “sell” rating in a report on Wednesday, June 29th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $22.20.

The company has a market capitalization of $704.12 million and a PE ratio of 80.40. The stock’s 50 day moving average is $23.18 and its 200 day moving average is $20.51.

Martin Midstream Partners L.P. (NASDAQ:MMLP) last posted its earnings results on Wednesday, July 27th. The company reported ($0.14) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.24 by $0.38. The company had revenue of $190.35 million for the quarter, compared to analyst estimates of $225.13 million. During the same quarter in the prior year, the firm posted $0.19 earnings per share. The firm’s revenue for the quarter was down 24.2% compared to the same quarter last year. Analysts anticipate that Martin Midstream Partners L.P. will post $0.60 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 12th. Investors of record on Friday, August 5th will be paid a $0.8125 dividend. The ex-dividend date of this dividend is Wednesday, August 3rd. This represents a $3.25 dividend on an annualized basis and a yield of 16.36%.

An institutional investor recently raised its position in Martin Midstream Partners L.P. stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Martin Midstream Partners L.P. (NASDAQ:MMLP) by 430.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,273 shares of the company’s stock after buying an additional 45,664 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.16% of Martin Midstream Partners L.P. worth $1,221,000 as of its most recent SEC filing.

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.

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