Wells Fargo & Company MN cut its stake in shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) by 1.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,065 shares of the pipeline company’s stock after selling 386 shares during the period. Wells Fargo & Company MN owned 0.08% of Martin Midstream Partners L.P. worth $563,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Creative Planning lifted its stake in shares of Martin Midstream Partners L.P. by 33.8% in the 2nd quarter. Creative Planning now owns 5,893 shares of the pipeline company’s stock valued at $104,000 after purchasing an additional 1,490 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Martin Midstream Partners L.P. by 61.1% in the 1st quarter. Ameriprise Financial Inc. now owns 19,753 shares of the pipeline company’s stock valued at $395,000 after purchasing an additional 7,493 shares during the period. Sippican Capital Advisors lifted its stake in shares of Martin Midstream Partners L.P. by 1.8% in the 2nd quarter. Sippican Capital Advisors now owns 28,120 shares of the pipeline company’s stock valued at $494,000 after purchasing an additional 500 shares during the period. Bank of America Corp DE lifted its stake in shares of Martin Midstream Partners L.P. by 8.6% in the 1st quarter. Bank of America Corp DE now owns 42,342 shares of the pipeline company’s stock valued at $847,000 after purchasing an additional 3,366 shares during the period. Finally, Bollard Group LLC lifted its stake in shares of Martin Midstream Partners L.P. by 0.3% in the 2nd quarter. Bollard Group LLC now owns 63,708 shares of the pipeline company’s stock valued at $1,118,000 after purchasing an additional 193 shares during the period. 31.77% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) opened at $14.45 on Friday. The company has a debt-to-equity ratio of 2.78, a quick ratio of 0.86 and a current ratio of 2.04. The company has a market capitalization of $555.56, a P/E ratio of 20.64 and a beta of 1.57. Martin Midstream Partners L.P. has a twelve month low of $14.15 and a twelve month high of $20.90.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Tuesday, November 7th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 13.84%. The ex-dividend date of this dividend is Monday, November 6th. Martin Midstream Partners L.P.’s dividend payout ratio is currently 434.78%.

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A number of analysts recently commented on MMLP shares. Zacks Investment Research lowered Martin Midstream Partners L.P. from a “buy” rating to a “hold” rating in a research report on Thursday, September 28th. BidaskClub raised Martin Midstream Partners L.P. from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $18.00 target price on shares of Martin Midstream Partners L.P. in a research report on Friday, October 27th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $20.00 target price on shares of Martin Midstream Partners L.P. in a research report on Friday, August 11th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $20.00 target price on shares of Martin Midstream Partners L.P. in a research report on Thursday, August 24th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Martin Midstream Partners L.P. presently has an average rating of “Hold” and an average target price of $19.60.

About Martin Midstream Partners L.P.

Martin Midstream Partners L.P. is a limited partnership with a set of operations focused in the United States Gulf Coast region. The Company’s four business lines include terminalling and storage services for petroleum products and by-products, including the refining of naphthenic crude oil and the blending and packaging of finished lubricants; natural gas services, including liquids transportation and distribution services, and natural gas storage; sulfur and sulfur-based products processing, manufacturing, marketing and distribution, and marine transportation services for petroleum products and by-products.

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Institutional Ownership by Quarter for Martin Midstream Partners L.P. (NASDAQ:MMLP)

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