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

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

A number of other institutional investors and hedge funds have also recently modified their holdings of MRTN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Marten Transport by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,049 shares of the transportation company’s stock valued at $516,000 after purchasing an additional 1,152 shares during the period. MetLife Investment Management LLC increased its position in Marten Transport by 5.9% during the 4th quarter. MetLife Investment Management LLC now owns 35,548 shares of the transportation company’s stock valued at $555,000 after purchasing an additional 1,992 shares during the period. LPL Financial LLC increased its position in Marten Transport by 7.3% during the 4th quarter. LPL Financial LLC now owns 33,447 shares of the transportation company’s stock valued at $522,000 after purchasing an additional 2,267 shares during the period. Hennion & Walsh Asset Management Inc. raised its position 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 worth $383,000 after acquiring an additional 2,506 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new position in shares of Marten Transport in the 4th quarter worth $42,000. 69.12% of the stock is owned by institutional investors.

Marten Transport Stock Up 0.8%

Shares of MRTN stock opened at $12.85 on Tuesday. Marten Transport, Ltd. has a 12 month low of $12.52 and a 12 month high of $19.26. The business’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 PE ratio of 49.42 and a beta of 0.99.

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

Marten Transport Dividend Announcement

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

Insider Activity

In other news, Director Jerry M. Bauer acquired 20,000 shares of the stock in a transaction on Monday, April 28th. The shares were purchased at an average price of $12.88 per share, for a total transaction of $257,600.00. Following the transaction, the director directly owned 176,444 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. 22.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.