Bank of New York Mellon Corp raised its stake in shares of Marten Transport, Ltd. (NASDAQ:MRTN) by 7.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,232,898 shares of the transportation company’s stock after purchasing an additional 84,766 shares during the period. Bank of New York Mellon Corp owned 2.26% of Marten Transport worth $33,782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the business. Wellington Management Group LLP raised its holdings in shares of Marten Transport by 14.7% in the first quarter. Wellington Management Group LLP now owns 1,841,229 shares of the transportation company’s stock worth $43,177,000 after buying an additional 235,974 shares during the period. Vanguard Group Inc. raised its holdings in shares of Marten Transport by 7.7% in the first quarter. Vanguard Group Inc. now owns 1,232,866 shares of the transportation company’s stock worth $28,911,000 after buying an additional 87,941 shares during the period. Granite Investment Partners LLC raised its holdings in shares of Marten Transport by 71.2% in the second quarter. Granite Investment Partners LLC now owns 795,922 shares of the transportation company’s stock worth $13,085,000 after buying an additional 331,098 shares during the period. Goldman Sachs Group Inc. grew its stake in Marten Transport by 814.8% in the first quarter. Goldman Sachs Group Inc. now owns 670,711 shares of the transportation company’s stock worth $15,729,000 after purchasing an additional 597,393 shares in the last quarter. Finally, State Street Corp grew its stake in Marten Transport by 1.6% in the first quarter. State Street Corp now owns 618,852 shares of the transportation company’s stock worth $14,510,000 after purchasing an additional 9,638 shares in the last quarter. Institutional investors and hedge funds own 42.36% of the company’s stock.
Shares of Marten Transport, Ltd. (MRTN) opened at 18.55 on Friday. The firm’s 50-day moving average price is $16.80 and its 200 day moving average price is $15.51. Marten Transport, Ltd. has a 12 month low of $11.22 and a 12 month high of $19.00. The company has a market cap of $1.01 billion, a PE ratio of 29.82 and a beta of 1.27.
Marten Transport (NASDAQ:MRTN) last posted its quarterly earnings results on Thursday, July 20th. The transportation company reported $0.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.02. Marten Transport had a net margin of 4.96% and a return on equity of 7.72%. The business had revenue of $171.51 million during the quarter, compared to analyst estimates of $176.08 million. During the same period in the previous year, the business posted $0.26 EPS. The company’s quarterly revenue was up 3.3% on a year-over-year basis. Equities research analysts anticipate that Marten Transport, Ltd. will post $0.63 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.54%. This is a positive change from Marten Transport’s previous quarterly dividend of $0.02. The ex-dividend date is Thursday, September 14th. Marten Transport’s payout ratio is presently 15.97%.
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Several brokerages recently issued reports on MRTN. Zacks Investment Research cut Marten Transport from a “buy” rating to a “hold” rating in a research note on Wednesday, September 6th. BidaskClub raised Marten Transport from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Stifel Nicolaus set a $15.00 price objective on Marten Transport and gave the stock a “hold” rating in a research note on Wednesday, August 23rd. Finally, ValuEngine raised Marten Transport from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $17.50.
Marten Transport Company Profile
Marten Transport, Ltd. is a temperature-sensitive truckload carrier. The Company focuses on transporting and distributing food and other consumer-packaged goods that require a temperature-controlled or insulated environment. The Company operates through four segments: Truckload, Dedicated, Intermodal and Brokerage.
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