The Manufacturers Life Insurance Company Lowers Stock Holdings in Marten Transport, Ltd. (NASDAQ:MRTN)

The Manufacturers Life Insurance Company trimmed its position in shares of Marten Transport, Ltd. (NASDAQ:MRTN) by 2.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,155 shares of the transportation company’s stock after selling 858 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Marten Transport were worth $471,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nuance Investments LLC boosted its stake in shares of Marten Transport by 21.7% in the 4th quarter. Nuance Investments LLC now owns 3,196,811 shares of the transportation company’s stock valued at $49,902,000 after buying an additional 569,700 shares during the period. US Bancorp DE boosted its stake in shares of Marten Transport by 3,788.8% in the 4th quarter. US Bancorp DE now owns 263,425 shares of the transportation company’s stock valued at $4,112,000 after buying an additional 256,651 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Marten Transport by 27.7% in the 4th quarter. JPMorgan Chase & Co. now owns 875,304 shares of the transportation company’s stock valued at $13,663,000 after buying an additional 189,996 shares during the period. Hodges Capital Management Inc. boosted its stake in shares of Marten Transport by 158.0% in the 4th quarter. Hodges Capital Management Inc. now owns 303,200 shares of the transportation company’s stock valued at $4,732,000 after buying an additional 185,700 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Marten Transport by 10.8% in the 4th quarter. American Century Companies Inc. now owns 1,803,045 shares of the transportation company’s stock valued at $28,146,000 after buying an additional 175,059 shares during the period. 69.12% of the stock is currently owned by hedge funds and other institutional investors.

Marten Transport Stock Down 0.5%

Shares of NASDAQ:MRTN opened at $13.76 on Friday. Marten Transport, Ltd. has a 52-week low of $12.52 and a 52-week high of $19.26. The stock’s fifty day simple moving average is $13.38 and its 200-day simple moving average is $15.07. The company has a market capitalization of $1.12 billion, a P/E ratio of 40.47 and a beta of 1.04.

Marten Transport (NASDAQ:MRTN) last issued its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. Marten Transport had a return on equity of 3.52% and a net margin of 2.79%. The firm had revenue of $223.15 million for the quarter, compared to analyst estimates of $228.79 million. On average, sell-side analysts anticipate that Marten Transport, Ltd. will post 0.41 earnings per share for the current year.

Marten Transport Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a $0.06 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.74%. Marten Transport’s dividend payout ratio (DPR) is currently 88.89%.

Insider Activity

In related news, Director Jerry M. Bauer bought 20,000 shares of the stock in a transaction dated Monday, April 28th. The stock was acquired at an average price of $12.88 per share, for a total transaction of $257,600.00. Following the completion of the purchase, the director now owns 176,444 shares in the company, valued at $2,272,598.72. This represents a 12.78% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 22.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MRTN shares. StockNews.com raised Marten Transport from a “sell” rating to a “hold” rating in a research report on Wednesday. Stephens lifted their price target on Marten Transport from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th.

About Marten Transport

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.