Marten Transport, Ltd. $MRTN Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC cut its holdings in Marten Transport, Ltd. (NASDAQ:MRTN) by 28.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,686 shares of the transportation company’s stock after selling 10,374 shares during the quarter. Intech Investment Management LLC’s holdings in Marten Transport were worth $334,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of MRTN. Nuance Investments LLC raised its position in shares of Marten Transport by 63.8% during the 1st quarter. Nuance Investments LLC now owns 5,237,442 shares of the transportation company’s stock worth $71,858,000 after purchasing an additional 2,040,631 shares during the last quarter. Nuveen LLC acquired a new stake in Marten Transport during the 1st quarter valued at $8,133,000. Jacobs Levy Equity Management Inc. purchased a new position in Marten Transport during the first quarter worth $3,216,000. Teacher Retirement System of Texas raised its holdings in shares of Marten Transport by 166.7% in the second quarter. Teacher Retirement System of Texas now owns 350,512 shares of the transportation company’s stock worth $4,553,000 after acquiring an additional 219,087 shares during the last quarter. Finally, Geneva Capital Management LLC raised its holdings in shares of Marten Transport by 6.3% in the second quarter. Geneva Capital Management LLC now owns 3,355,193 shares of the transportation company’s stock worth $43,584,000 after acquiring an additional 199,690 shares during the last quarter. 69.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MRTN. Wall Street Zen lowered Marten Transport from a “hold” rating to a “sell” rating in a research note on Saturday, August 30th. Weiss Ratings restated 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 stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $19.00.

Marten Transport Stock Down 0.8%

Shares of NASDAQ:MRTN opened at $10.18 on Monday. The company has a market cap of $829.87 million, a P/E ratio of 42.42 and a beta of 0.94. The business has a fifty day simple moving average of $10.28 and a 200-day simple moving average of $11.80. Marten Transport, Ltd. has a 52 week low of $9.35 and a 52 week high of $17.54.

Marten Transport (NASDAQ:MRTN) last released its earnings results on Thursday, October 23rd. The transportation company reported $0.03 earnings per share 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 business had revenue of $194.00 million for the quarter, compared to analysts’ expectations of $230.38 million. During the same quarter last year, the company posted $0.05 earnings per share. The business’s quarterly revenue was down 7.1% compared to the same quarter last year. Sell-side analysts expect that Marten Transport, Ltd. will post 0.41 earnings per share for the current fiscal year.

Marten Transport Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 29th. Investors of record on Monday, December 15th will be given a $0.06 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.24 annualized dividend and a dividend yield of 2.4%. Marten Transport’s dividend payout ratio (DPR) is currently 100.00%.

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.