Bank of New York Mellon Corp Has $8.66 Million Holdings in Marten Transport, Ltd. (NASDAQ:MRTN)

Bank of New York Mellon Corp cut its holdings in Marten Transport, Ltd. (NASDAQ:MRTN) by 1.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 631,292 shares of the transportation company’s stock after selling 10,541 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.77% of Marten Transport worth $8,661,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Marten Transport by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,049 shares of the transportation company’s stock worth $516,000 after purchasing an additional 1,152 shares during the last quarter. MetLife Investment Management LLC lifted its stake in Marten Transport by 5.9% during the fourth quarter. MetLife Investment Management LLC now owns 35,548 shares of the transportation company’s stock worth $555,000 after purchasing an additional 1,992 shares during the last quarter. LPL Financial LLC lifted its stake in shares of Marten Transport by 7.3% in the 4th quarter. LPL Financial LLC now owns 33,447 shares of the transportation company’s stock valued at $522,000 after acquiring an additional 2,267 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Marten Transport by 9.9% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 27,927 shares of the transportation company’s stock valued at $383,000 after acquiring an additional 2,506 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in Marten Transport during the 4th quarter valued at approximately $42,000. Institutional investors own 69.12% of the company’s stock.

Marten Transport Stock Up 0.8%

NASDAQ:MRTN opened at $12.85 on Tuesday. Marten Transport, Ltd. has a fifty-two week low of $12.52 and a fifty-two week high of $19.26. The firm’s 50 day moving average is $13.26 and its two-hundred day moving average is $13.95. The company has a market cap of $1.05 billion, a P/E ratio of 49.42 and a beta of 0.99.

Marten Transport (NASDAQ:MRTN) last announced its quarterly earnings data on Wednesday, July 16th. The transportation company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. The company had revenue of $229.92 million for the quarter, compared to analysts’ expectations of $231.09 million. Marten Transport had a net margin of 2.27% and a return on equity of 2.72%. The business’s revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS. Research analysts forecast that Marten Transport, Ltd. will post 0.41 earnings per share for the current fiscal year.

Marten Transport Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, June 13th. This represents a $0.24 annualized dividend and a yield of 1.87%. Marten Transport’s dividend payout ratio (DPR) is currently 92.31%.

Insider Buying and Selling at Marten Transport

In other news, Director Jerry M. Bauer bought 20,000 shares of the company’s stock in a transaction dated Monday, April 28th. The stock was bought at an average price of $12.88 per share, with a total value of $257,600.00. Following the completion of the acquisition, the director owned 176,444 shares of the company’s stock, valued at $2,272,598.72. This represents a 12.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 22.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, Wall Street Zen cut Marten Transport from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd.

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.