Marten Transport, Ltd. $MRTN Shares Sold by Canvas Wealth Advisors LLC

Canvas Wealth Advisors LLC decreased its stake in shares of Marten Transport, Ltd. (NASDAQ:MRTN) by 7.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,885 shares of the transportation company’s stock after selling 4,611 shares during the period. Canvas Wealth Advisors LLC owned approximately 0.07% of Marten Transport worth $745,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of Marten Transport by 8,296.7% in the first quarter. GAMMA Investing LLC now owns 12,595 shares of the transportation company’s stock worth $173,000 after buying an additional 12,445 shares during the period. Teacher Retirement System of Texas bought a new position in shares of Marten Transport in the first quarter valued at approximately $1,803,000. Principal Financial Group Inc. raised its stake in Marten Transport by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 288,223 shares of the transportation company’s stock valued at $3,954,000 after purchasing an additional 7,351 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Marten Transport by 5.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 120,101 shares of the transportation company’s stock valued at $1,648,000 after purchasing an additional 5,874 shares during the last quarter. Finally, Tectonic Advisors LLC increased its holdings in Marten Transport by 27.9% in the 1st quarter. Tectonic Advisors LLC now owns 64,148 shares of the transportation company’s stock valued at $880,000 after buying an additional 13,981 shares during the period. Institutional investors own 69.12% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MRTN shares. Wall Street Zen downgraded shares of Marten Transport from a “hold” rating to a “sell” rating in a research note on Saturday, August 30th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Marten Transport in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $19.00.

Marten Transport Price Performance

Shares of Marten Transport stock opened at $10.81 on Monday. Marten Transport, Ltd. has a 1 year low of $10.35 and a 1 year high of $18.63. The company has a market capitalization of $881.23 million, a price-to-earnings ratio of 41.58 and a beta of 0.95. The business has a fifty day simple moving average of $11.35 and a two-hundred day simple moving average of $12.47.

Marten Transport Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Tuesday, September 16th. Marten Transport’s payout ratio is currently 92.31%.

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