Geode Capital Management LLC Has $18.99 Million Holdings in Marten Transport, Ltd. $MRTN

Geode Capital Management LLC increased its position in Marten Transport, Ltd. (NASDAQ:MRTN) by 1.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,461,908 shares of the transportation company’s stock after acquiring an additional 15,016 shares during the quarter. Geode Capital Management LLC owned about 1.79% of Marten Transport worth $18,991,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nuance Investments LLC boosted its holdings in Marten Transport by 9.7% during the second quarter. Nuance Investments LLC now owns 5,745,928 shares of the transportation company’s stock valued at $74,640,000 after acquiring an additional 508,486 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in shares of Marten Transport during the 2nd quarter worth about $574,000. Fox Run Management L.L.C. boosted its stake in Marten Transport by 6.9% during the 2nd quarter. Fox Run Management L.L.C. now owns 21,114 shares of the transportation company’s stock valued at $274,000 after purchasing an additional 1,362 shares during the period. Bank of New York Mellon Corp boosted its stake in Marten Transport by 6.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 670,811 shares of the transportation company’s stock valued at $8,714,000 after purchasing an additional 39,519 shares during the period. Finally, Bank of Montreal Can acquired a new stake in Marten Transport in the 2nd quarter valued at approximately $154,000. Institutional investors and hedge funds own 69.12% of the company’s stock.

Marten Transport Trading Down 0.8%

MRTN opened at $10.18 on Monday. The stock’s 50 day simple moving average is $10.28 and its 200-day simple moving average is $11.80. The stock has a market cap of $829.87 million, a PE ratio of 42.42 and a beta of 0.94. Marten Transport, Ltd. has a 1 year low of $9.35 and a 1 year high of $17.54.

Marten Transport (NASDAQ:MRTN) last issued its earnings results on Thursday, October 23rd. The transportation company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). Marten Transport had a return on equity of 2.52% and a net margin of 2.14%.The firm had revenue of $194.00 million during the quarter, compared to the consensus estimate of $230.38 million. During the same period last year, the business earned $0.05 earnings per share. The firm’s revenue for the quarter was down 7.1% compared to the same quarter last year. Equities analysts forecast that Marten Transport, Ltd. will post 0.41 earnings per share for the current fiscal year.

Marten Transport Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 29th. Stockholders of record on Monday, December 15th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Monday, December 15th. Marten Transport’s payout ratio is 100.00%.

Analysts Set New Price Targets

MRTN has been the subject of a number of research analyst reports. Wall Street Zen lowered Marten Transport from a “hold” rating to a “sell” rating in a report on Saturday, August 30th. Weiss Ratings reissued a “sell (d)” rating on shares of Marten Transport in a report on Monday, November 24th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Marten Transport currently has an average rating of “Hold” and a consensus target price of $19.00.

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.