State of Tennessee Treasury Department lifted its holdings in shares of Marten Transport, Ltd. (NASDAQ:MRTN – Get Rating) by 17.9% during the 1st quarter, Holdings Channel.com reports. The fund owned 22,293 shares of the transportation company’s stock after buying an additional 3,378 shares during the period. State of Tennessee Treasury Department’s holdings in Marten Transport were worth $396,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Marten Transport during the 4th quarter worth about $149,000. JPMorgan Chase & Co. grew its stake in Marten Transport by 19.7% during the 4th quarter. JPMorgan Chase & Co. now owns 521,654 shares of the transportation company’s stock worth $8,953,000 after buying an additional 85,701 shares during the last quarter. Advisor Group Holdings Inc. grew its stake in Marten Transport by 13.6% during the 4th quarter. Advisor Group Holdings Inc. now owns 9,110 shares of the transportation company’s stock worth $157,000 after buying an additional 1,090 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in Marten Transport during the 4th quarter worth approximately $251,000. Finally, GHP Investment Advisors Inc. grew its stake in Marten Transport by 7.6% during the 1st quarter. GHP Investment Advisors Inc. now owns 280,629 shares of the transportation company’s stock worth $4,984,000 after buying an additional 19,858 shares during the last quarter. Institutional investors and hedge funds own 69.75% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the company. Stephens raised their price target on Marten Transport to $23.00 in a research note on Friday, July 22nd. Vertical Research downgraded Marten Transport from a “buy” rating to a “hold” rating and raised their price target for the stock from $24.00 to $25.00 in a research note on Wednesday, August 17th.
Marten Transport Trading Down 1.2 %
Shares of MRTN stock opened at $19.40 on Monday. The business’s 50 day moving average is $19.83 and its two-hundred day moving average is $18.35. Marten Transport, Ltd. has a twelve month low of $14.72 and a twelve month high of $23.43. The company has a market capitalization of $1.57 billion, a P/E ratio of 15.16 and a beta of 0.93.
Marten Transport (NASDAQ:MRTN – Get Rating) last announced its earnings results on Monday, July 18th. The transportation company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.07. Marten Transport had a return on equity of 16.24% and a net margin of 9.27%. The company had revenue of $329.57 million for the quarter, compared to the consensus estimate of $291.70 million. During the same period last year, the business posted $0.26 EPS. The company’s revenue was up 41.8% on a year-over-year basis. As a group, equities analysts predict that Marten Transport, Ltd. will post 1.41 earnings per share for the current fiscal year.
Marten Transport Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be issued a $0.06 dividend. The ex-dividend date is Thursday, September 15th. This represents a $0.24 annualized dividend and a dividend yield of 1.24%. Marten Transport’s dividend payout ratio is currently 18.75%.
About Marten Transport
Marten Transport, Ltd. operates as a temperature-sensitive truckload carrier for shippers in the United States, Canada, and Mexico. It operates through four segments: Truckload, Dedicated, Intermodal, and Brokerage. The Truckload segment transports food and other consumer packaged goods that require a temperature-controlled or insulated environment.
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