First Mercantile Trust Co. lowered its stake in shares of Marten Transport Ltd. (NASDAQ:MRTN) by 6.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,047 shares of the company’s stock after selling 1,396 shares during the period. First Mercantile Trust Co. owned 0.06% of Marten Transport worth $397,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Henderson Group PLC boosted its position in shares of Marten Transport by 57.6% in the second quarter. Henderson Group PLC now owns 655,377 shares of the company’s stock valued at $12,976,000 after buying an additional 239,562 shares in the last quarter. Emerald Acquisition Ltd. acquired a new stake in Marten Transport during the second quarter worth approximately $3,374,000. Investment Counselors of Maryland LLC boosted its stake in Marten Transport by 17.8% in the second quarter. Investment Counselors of Maryland LLC now owns 791,575 shares of the company’s stock worth $15,673,000 after buying an additional 119,470 shares during the period. Ngam Advisors L.P. boosted its stake in Marten Transport by 344.5% in the first quarter. Ngam Advisors L.P. now owns 145,729 shares of the company’s stock worth $2,728,000 after buying an additional 112,945 shares during the period. Finally, LSV Asset Management boosted its stake in Marten Transport by 766.1% in the second quarter. LSV Asset Management now owns 93,537 shares of the company’s stock worth $1,852,000 after buying an additional 82,737 shares during the period. Institutional investors own 69.01% of the company’s stock.
Shares of Marten Transport Ltd. (NASDAQ:MRTN) opened at 20.72 on Wednesday. The firm has a market capitalization of $672.96 million, a price-to-earnings ratio of 20.31 and a beta of 1.01. Marten Transport Ltd. has a 52 week low of $14.62 and a 52 week high of $22.27. The stock has a 50 day moving average price of $21.59 and a 200-day moving average price of $20.05.
Marten Transport (NASDAQ:MRTN) last issued its earnings results on Tuesday, July 19th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01. The business earned $166.10 million during the quarter, compared to the consensus estimate of $168.17 million. Marten Transport had a return on equity of 8.19% and a net margin of 5.08%. On average, analysts anticipate that Marten Transport Ltd. will post $1.00 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 27th. Investors of record on Tuesday, September 13th were paid a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Friday, September 9th. Marten Transport’s payout ratio is currently 9.80%.
A number of research firms have recently commented on MRTN. Zacks Investment Research upgraded Marten Transport from a “sell” rating to a “hold” rating in a research report on Wednesday, September 21st. Avondale Partners cut Marten Transport from an “outperform” rating to a “market perform” rating and set a $22.00 price objective for the company. in a research report on Friday, July 22nd.
In related news, Chairman Randolph L. Marten sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $21.76, for a total value of $2,176,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John H. Turner sold 1,275 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $22.00, for a total value of $28,050.00. The disclosure for this sale can be found here. 23.70% of the stock is owned by corporate insiders.
Marten Transport Company Profile
Marten Transport, Ltd. is a national protective service transportation company. It is a temperature-sensitive truckload carrier. The Company specializes in 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.
Want to see what other hedge funds are holding MRTN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marten Transport Ltd. (NASDAQ:MRTN).
Receive News & Ratings for Marten Transport Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marten Transport Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.