Ameriprise Financial Inc. lowered its position in shares of Marten Transport, Ltd. (NASDAQ:MRTN - Free Report) by 30.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 967,085 shares of the transportation company's stock after selling 418,062 shares during the period. Ameriprise Financial Inc. owned approximately 1.19% of Marten Transport worth $15,096,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Independence Bank of Kentucky bought a new stake in shares of Marten Transport in the fourth quarter worth $40,000. Meeder Asset Management Inc. bought a new stake in shares of Marten Transport in the fourth quarter worth $42,000. Johnson Financial Group Inc. bought a new stake in shares of Marten Transport in the fourth quarter worth $48,000. Quantbot Technologies LP acquired a new position in Marten Transport in the fourth quarter worth $100,000. Finally, Wedbush Securities Inc. acquired a new position in Marten Transport in the fourth quarter worth $157,000. Hedge funds and other institutional investors own 69.12% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have commented on MRTN shares. Stephens lifted their price objective on shares of Marten Transport from $18.00 to $19.00 and gave the stock an "overweight" rating in a report on Tuesday, January 28th. StockNews.com raised shares of Marten Transport from a "sell" rating to a "hold" rating in a report on Wednesday.
Check Out Our Latest Stock Analysis on Marten Transport
Insider Activity
In other news, Director Jerry M. Bauer purchased 20,000 shares of Marten Transport stock in a transaction dated Monday, April 28th. The stock was bought at an average price of $12.88 per share, with a total value of $257,600.00. Following the completion of the acquisition, the director now owns 176,444 shares in the company, valued at $2,272,598.72. The trade was a 12.78% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 22.90% of the company's stock.
Marten Transport Price Performance
Marten Transport stock opened at $13.76 on Friday. The company has a market cap of $1.12 billion, a PE ratio of 40.47 and a beta of 1.04. The company has a fifty day moving average price of $13.38 and a two-hundred day moving average price of $15.07. Marten Transport, Ltd. has a 12 month low of $12.52 and a 12 month high of $19.26.
Marten Transport (NASDAQ:MRTN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. Marten Transport had a net margin of 2.79% and a return on equity of 3.52%. The company had revenue of $223.15 million during the quarter, compared to the consensus estimate of $228.79 million. Equities research analysts anticipate that Marten Transport, Ltd. will post 0.41 earnings per share for the current year.
Marten Transport Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Friday, June 13th. Marten Transport's dividend payout ratio (DPR) is 88.89%.
About Marten Transport
(
Free Report)
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.
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