ExodusPoint Capital Management LP Boosts Stake in Marten Transport, Ltd. (NASDAQ:MRTN)

ExodusPoint Capital Management LP grew its stake in shares of Marten Transport, Ltd. (NASDAQ:MRTN) by 58.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 60,860 shares of the transportation company’s stock after buying an additional 22,392 shares during the quarter. ExodusPoint Capital Management LP owned 0.07% of Marten Transport worth $1,275,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in MRTN. Arizona State Retirement System raised its position in Marten Transport by 2.8% in the 1st quarter. Arizona State Retirement System now owns 18,798 shares of the transportation company’s stock worth $394,000 after purchasing an additional 509 shares during the period. American Century Companies Inc. raised its position in Marten Transport by 11.7% in the 1st quarter. American Century Companies Inc. now owns 737,101 shares of the transportation company’s stock worth $15,059,000 after purchasing an additional 77,126 shares during the period. Citigroup Inc. raised its position in Marten Transport by 19.5% in the 4th quarter. Citigroup Inc. now owns 47,184 shares of the transportation company’s stock worth $933,000 after purchasing an additional 7,708 shares during the period. Kingsview Wealth Management LLC purchased a new position in Marten Transport in the 4th quarter worth $581,000. Finally, Motco purchased a new position in Marten Transport in the 4th quarter worth $30,000. Hedge funds and other institutional investors own 67.46% of the company’s stock.

Marten Transport Trading Up 1.0 %

MRTN stock opened at $21.21 on Monday. The firm’s 50-day moving average price is $21.57 and its two-hundred day moving average price is $21.28. Marten Transport, Ltd. has a 12-month low of $17.64 and a 12-month high of $23.38. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 17.97 and a beta of 0.88.

Marten Transport (NASDAQ:MRTN) last announced its earnings results on Wednesday, July 19th. The transportation company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The company had revenue of $285.67 million for the quarter, compared to the consensus estimate of $296.93 million. Marten Transport had a net margin of 7.76% and a return on equity of 13.42%. The company’s revenue for the quarter was down 13.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.39 EPS. Equities analysts predict that Marten Transport, Ltd. will post 1.09 EPS for the current year.

Marten Transport Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Thursday, September 14th. Marten Transport’s payout ratio is currently 20.34%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MRTN. StockNews.com began coverage on shares of Marten Transport in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Stephens restated an “overweight” rating and issued a $27.00 price objective on shares of Marten Transport in a research report on Thursday, July 20th.

Marten Transport Company Profile

Marten Transport, Ltd. operates as a temperature-sensitive truckload carrier for shippers in the United State, Mexico, and Canada. The company 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, as well as dry freight.