Oppenheimer Asset Management Inc. cut its position in Marten Transport, Ltd (NASDAQ:MRTN) by 1.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 121,435 shares of the transportation company’s stock after selling 1,925 shares during the quarter. Oppenheimer Asset Management Inc. owned about 0.22% of Marten Transport worth $2,165,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in MRTN. BlackRock Inc. lifted its stake in Marten Transport by 4.9% in the fourth quarter. BlackRock Inc. now owns 6,143,577 shares of the transportation company’s stock valued at $99,464,000 after acquiring an additional 288,817 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Marten Transport by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,563,975 shares of the transportation company’s stock worth $73,891,000 after buying an additional 42,170 shares during the last quarter. Vanguard Group Inc lifted its stake in shares of Marten Transport by 2.4% in the third quarter. Vanguard Group Inc now owns 2,272,199 shares of the transportation company’s stock worth $47,830,000 after buying an additional 53,344 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Marten Transport by 2.4% in the third quarter. Vanguard Group Inc. now owns 2,272,199 shares of the transportation company’s stock worth $47,830,000 after buying an additional 53,344 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Marten Transport by 32.6% in the fourth quarter. Victory Capital Management Inc. now owns 2,089,169 shares of the transportation company’s stock worth $33,824,000 after buying an additional 513,644 shares during the last quarter. Institutional investors own 67.91% of the company’s stock.
In related news, Director Robert L. Demorest sold 6,250 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $18.05, for a total value of $112,812.50. Following the sale, the director now directly owns 20,666 shares in the company, valued at approximately $373,021.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 23.00% of the company’s stock.
NASDAQ:MRTN traded down $0.45 during mid-day trading on Wednesday, reaching $19.08. 90,500 shares of the company were exchanged, compared to its average volume of 224,233. Marten Transport, Ltd has a 12 month low of $15.39 and a 12 month high of $24.55. The firm has a market cap of $1.05 billion, a P/E ratio of 19.08 and a beta of 1.55.
Marten Transport (NASDAQ:MRTN) last released its earnings results on Tuesday, April 16th. The transportation company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Marten Transport had a net margin of 7.28% and a return on equity of 10.23%. The company had revenue of $199.00 million for the quarter, compared to the consensus estimate of $196.60 million. During the same period in the prior year, the company posted $0.19 EPS. The company’s revenue was up 6.4% compared to the same quarter last year. As a group, analysts expect that Marten Transport, Ltd will post 1.11 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a $0.03 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.63%. Marten Transport’s dividend payout ratio is 12.00%.
Several equities research analysts have issued reports on MRTN shares. BidaskClub raised shares of Marten Transport from a “sell” rating to a “hold” rating in a report on Tuesday, March 12th. ValuEngine raised shares of Marten Transport from a “hold” rating to a “buy” rating in a report on Thursday, January 24th. Stifel Nicolaus set a $18.00 price target on shares of Marten Transport and gave the company a “hold” rating in a report on Wednesday, April 17th. Finally, Zacks Investment Research raised shares of Marten Transport from a “sell” rating to a “hold” rating in a report on Thursday, April 18th. Five research analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and an average target price of $19.67.
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Marten Transport Company Profile
Marten Transport, Ltd. operates as a temperature-sensitive truckload carrier for shippers in the United States, Canada, and Mexico. It 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.
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