BlackRock Inc. Increases Position in Marten Transport, Ltd. $MRTN

Key Points

• BlackRock increased its Marten Transport stake by 3.1% in the second quarter, adding 298,912 shares to own 10.06 million shares, or approximately 12.33% of the company. Institutional investors collectively own 69.12% of MRTN.
• Marten Transport’s latest quarterly results fell short of expectations, with EPS of $0.07 versus $0.08 expected and revenue of $223.54 million versus $227.10 million forecast. Revenue declined 2.8% year over year, while analysts maintain a “Moderate Buy” consensus and a $16 average price target.
• The company declared a quarterly dividend of $0.06 per share, equivalent to $0.24 annually and a 1.7% yield. MRTN shares opened at $14.46, compared with a 12-month range of $9.35 to $18.48.

BlackRock Inc. boosted its holdings in Marten Transport, Ltd. (NASDAQ:MRTN - Free Report) by 3.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,058,930 shares of the transportation company's stock after buying an additional 298,912 shares during the quarter. BlackRock Inc. owned approximately 12.33% of Marten Transport worth $174,522,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MRTN. AlphaQuest LLC lifted its position in Marten Transport by 0.6% in the fourth quarter. AlphaQuest LLC now owns 121,536 shares of the transportation company's stock valued at $1,383,000 after acquiring an additional 755 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of Marten Transport by 1.7% during the third quarter. Alliancebernstein L.P. now owns 76,690 shares of the transportation company's stock worth $818,000 after purchasing an additional 1,271 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Marten Transport by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,496 shares of the transportation company's stock worth $473,000 after purchasing an additional 1,447 shares in the last quarter. Sei Investments Co. increased its position in shares of Marten Transport by 3.4% during the third quarter. Sei Investments Co. now owns 48,628 shares of the transportation company's stock worth $518,000 after purchasing an additional 1,595 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of Marten Transport by 12.0% in the 1st quarter. Royal Bank of Canada now owns 17,028 shares of the transportation company's stock valued at $234,000 after purchasing an additional 1,826 shares during the last quarter. 69.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on MRTN shares. Weiss Ratings reissued a "hold (c-)" rating on shares of Marten Transport in a research report on Tuesday, June 30th. Stephens lowered their price target on Marten Transport from $18.00 to $16.00 and set an "equal weight" rating on the stock in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Marten Transport presently has a consensus rating of "Moderate Buy" and an average target price of $16.00.

Marten Transport Stock Performance

NASDAQ:MRTN opened at $14.46 on Friday. The company has a market capitalization of $1.18 billion, a P/E ratio of 85.06 and a beta of 0.95. The firm has a 50-day moving average price of $16.13 and a two-hundred day moving average price of $15.15. Marten Transport, Ltd. has a twelve month low of $9.35 and a twelve month high of $18.48.

Marten Transport (NASDAQ:MRTN - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The transportation company reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.01). The company had revenue of $223.54 million for the quarter, compared to analyst estimates of $227.10 million. Marten Transport had a net margin of 1.47% and a return on equity of 1.65%. The firm's revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.09 EPS. On average, equities research analysts predict that Marten Transport, Ltd. will post 0.27 earnings per share for the current year.

Marten Transport Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Wednesday, September 16th. Marten Transport's dividend payout ratio is presently 141.18%.

About Marten Transport

Marten Transport, Inc is a North American transportation services provider offering temperature-controlled and dry van truckload services. Founded in 1946 and headquartered in Mondovi, Wisconsin, the company specializes in full truckload, dedicated contract carriage, intermodal and port drayage solutions. Its core focus on refrigerated and produce freight has made it a key partner for food manufacturers, retailers and other shippers requiring strict temperature management.

The company maintains a modern fleet of tractors and trailers equipped with advanced telematics, electronic logging devices and continuous temperature monitoring.

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