Shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) were down 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. 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 Tuesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $22.20.

The company’s 50 day moving average is $23.00 and its 200-day moving average is $20.52. The firm has a market cap of $707.31 million and a PE ratio of 80.77.

Martin Midstream Partners L.P. (NASDAQ:MMLP) last released its quarterly earnings data on Wednesday, July 27th. The company reported ($0.14) EPS 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. The firm’s quarterly revenue was down 24.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.19 EPS. On average, equities analysts anticipate that Martin Midstream Partners L.P. will post $0.60 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 12th. Shareholders of record on Friday, August 5th will be issued a dividend of $0.8125 per share. This represents a $3.25 dividend on an annualized basis and a yield of 16.68%. The ex-dividend date of this dividend is Wednesday, August 3rd.

An institutional investor recently raised its position in Martin Midstream Partners L.P. stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Martin Midstream Partners L.P. (NASDAQ:MMLP) by 430.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund 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 filing with the SEC.

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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