Marten Transport, Ltd. (NASDAQ:MRTN) Position Trimmed by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its holdings in Marten Transport, Ltd. (NASDAQ:MRTN) by 17.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 93,398 shares of the transportation company’s stock after selling 19,254 shares during the period. New York State Common Retirement Fund’s holdings in Marten Transport were worth $1,959,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP bought a new position in Marten Transport in the third quarter worth about $12,907,000. TimesSquare Capital Management LLC boosted its position in Marten Transport by 56.5% during the 3rd quarter. TimesSquare Capital Management LLC now owns 1,038,150 shares of the transportation company’s stock valued at $20,462,000 after purchasing an additional 374,755 shares during the period. Invesco Ltd. grew its stake in Marten Transport by 26.0% during the 3rd quarter. Invesco Ltd. now owns 452,561 shares of the transportation company’s stock worth $8,920,000 after buying an additional 93,417 shares during the last quarter. American Century Companies Inc. increased its position in Marten Transport by 11.4% in the third quarter. American Century Companies Inc. now owns 893,616 shares of the transportation company’s stock worth $17,613,000 after buying an additional 91,508 shares during the period. Finally, Scopus Asset Management L.P. bought a new stake in Marten Transport in the third quarter valued at $1,141,000. 69.12% of the stock is owned by institutional investors and hedge funds.

Marten Transport Stock Performance

Shares of MRTN opened at $17.62 on Thursday. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 24.82 and a beta of 0.79. The stock’s fifty day moving average is $17.78 and its 200-day moving average is $18.77. Marten Transport, Ltd. has a one year low of $15.33 and a one year high of $23.38.

Marten Transport (NASDAQ:MRTN) last released its quarterly earnings results on Thursday, April 18th. The transportation company reported $0.12 EPS for the quarter, hitting analysts’ consensus estimates of $0.12. The company had revenue of $249.67 million for the quarter, compared to the consensus estimate of $262.77 million. Marten Transport had a net margin of 5.31% and a return on equity of 7.65%. Marten Transport’s revenue was down 16.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 EPS.

Marten Transport Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date was Thursday, March 14th. Marten Transport’s payout ratio is currently 33.80%.

Wall Street Analyst Weigh In

MRTN has been the topic of a number of analyst reports. Vertical Research raised shares of Marten Transport from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Wednesday, January 10th. Stephens cut their price target on Marten Transport from $23.00 to $21.00 and set an “overweight” rating on the stock in a report on Friday, April 19th.

Marten Transport 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; and regional short-haul and medium-to-long-haul full-load transportation services.