Stephens cut shares of Marten Transport (NASDAQ:MRTN) from an overweight rating to an equal weight rating in a research note published on Friday, MarketBeat.com reports.
MRTN has been the subject of several other reports. Zacks Investment Research raised shares of Marten Transport from a hold rating to a buy rating and set a $24.00 price objective for the company in a research report on Saturday, January 20th. BidaskClub raised shares of Marten Transport from a hold rating to a buy rating in a research report on Tuesday, January 16th. Finally, Stifel Nicolaus reaffirmed a hold rating and issued a $20.00 price target on shares of Marten Transport in a research report on Thursday, April 5th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Marten Transport presently has an average rating of Buy and a consensus target price of $25.25.
Marten Transport stock opened at $20.80 on Friday. The stock has a market capitalization of $1,162.29, a price-to-earnings ratio of 33.55 and a beta of 1.37. Marten Transport has a 1 year low of $14.14 and a 1 year high of $29.60.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Monday, March 19th were given a $0.025 dividend. The ex-dividend date of this dividend was Friday, March 16th. This represents a $0.10 annualized dividend and a dividend yield of 0.48%. Marten Transport’s payout ratio is presently 16.13%.
In other news, Director Thomas J. Winkel sold 6,250 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $22.55, for a total value of $140,937.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Larry B. Hagness sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $23.39, for a total transaction of $280,680.00. The disclosure for this sale can be found here. 22.90% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Bogle Investment Management L P DE purchased a new stake in shares of Marten Transport in the 4th quarter worth approximately $220,000. Teacher Retirement System of Texas purchased a new stake in shares of Marten Transport in the 4th quarter worth approximately $284,000. Brown Advisory Securities LLC purchased a new stake in shares of Marten Transport in the 4th quarter worth approximately $305,000. Jefferies Group LLC lifted its position in shares of Marten Transport by 70.2% in the 4th quarter. Jefferies Group LLC now owns 18,748 shares of the transportation company’s stock worth $381,000 after purchasing an additional 7,732 shares during the period. Finally, MetLife Investment Advisors LLC purchased a new stake in shares of Marten Transport in the 4th quarter worth approximately $393,000. 67.88% of the stock is owned by hedge funds and other institutional investors.
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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