Ruben S. Martin Buys 1,090 Shares of Martin Midstream Partners L.P. (MMLP) Stock

Martin Midstream Partners L.P. (NASDAQ:MMLP) insider Ruben S. Martin purchased 1,090 shares of the business’s stock in a transaction dated Thursday, January 11th. The shares were bought at an average price of $15.01 per share, with a total value of $16,360.90. Following the purchase, the insider now directly owns 144,719 shares of the company’s stock, valued at $2,172,232.19. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Martin Midstream Partners L.P. (NASDAQ:MMLP) traded up $0.35 during trading hours on Friday, reaching $15.85. The company’s stock had a trading volume of 271,443 shares, compared to its average volume of 200,478. The stock has a market capitalization of $609.38, a PE ratio of 34.46 and a beta of 1.49. The company has a debt-to-equity ratio of 2.78, a current ratio of 2.04 and a quick ratio of 0.86. Martin Midstream Partners L.P. has a 1 year low of $12.70 and a 1 year high of $20.90.

MMLP has been the subject of several analyst reports. Zacks Investment Research upgraded Martin Midstream Partners from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Wednesday, September 27th. Stifel Nicolaus cut their price target on Martin Midstream Partners from $19.00 to $17.00 and set a “hold” rating for the company in a research note on Thursday, October 26th. Royal Bank of Canada restated a “hold” rating and set a $18.00 price target on shares of Martin Midstream Partners in a research note on Friday, October 27th. BidaskClub upgraded Martin Midstream Partners from a “strong sell” rating to a “sell” rating in a research note on Tuesday, December 12th. Finally, B. Riley restated a “buy” rating and set a $18.00 price target on shares of Martin Midstream Partners in a research note on Monday, December 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Martin Midstream Partners has a consensus rating of “Hold” and an average price target of $19.33.

A number of large investors have recently added to or reduced their stakes in MMLP. Stephens Inc. AR raised its position in Martin Midstream Partners by 6.5% in the second quarter. Stephens Inc. AR now owns 28,733 shares of the pipeline company’s stock worth $504,000 after acquiring an additional 1,754 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Martin Midstream Partners by 20.0% in the second quarter. Goldman Sachs Group Inc. now owns 462,442 shares of the pipeline company’s stock worth $8,116,000 after acquiring an additional 77,177 shares in the last quarter. Royal Bank of Canada raised its position in Martin Midstream Partners by 1.9% in the second quarter. Royal Bank of Canada now owns 32,617 shares of the pipeline company’s stock worth $573,000 after acquiring an additional 602 shares in the last quarter. CNH Partners LLC raised its position in Martin Midstream Partners by 62.3% in the second quarter. CNH Partners LLC now owns 30,468 shares of the pipeline company’s stock worth $535,000 after acquiring an additional 11,700 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Martin Midstream Partners by 192.5% in the second quarter. The Manufacturers Life Insurance Company now owns 9,543 shares of the pipeline company’s stock worth $167,000 after acquiring an additional 6,280 shares in the last quarter. Hedge funds and other institutional investors own 31.17% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This story was reported by The Lincolnian Online and is the property of of The Lincolnian Online. If you are viewing this story on another website, it was stolen and reposted in violation of international trademark & copyright laws. The legal version of this story can be accessed at https://www.thelincolnianonline.com/2018/01/14/ruben-s-martin-buys-1090-shares-of-martin-midstream-partners-l-p-mmlp-stock.html.

Martin Midstream Partners Company Profile

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.

Insider Buying and Selling by Quarter for Martin Midstream Partners (NASDAQ:MMLP)

Receive News & Ratings for Martin Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Martin Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply