Connor Clark & Lunn Investment Management Ltd. purchased a new position in Marten Transport, Ltd. (NASDAQ:MRTN - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 125,451 shares of the transportation company's stock, valued at approximately $2,177,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.15% of Marten Transport as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently added to or reduced their stakes in MRTN. Elevation Point Wealth Partners LLC acquired a new position in Marten Transport during the 2nd quarter valued at about $429,000. Bard Associates Inc. bought a new position in Marten Transport during the 2nd quarter valued at $393,000. Ieq Capital LLC purchased a new position in Marten Transport during the 2nd quarter worth $224,000. Heartland Advisors Inc. purchased a new position in Marten Transport during the 2nd quarter worth $6,072,000. Finally, Vise Technologies Inc. bought a new stake in shares of Marten Transport in the 2nd quarter worth $202,000. Institutional investors and hedge funds own 69.12% of the company's stock.
Analyst Ratings Changes
A number of brokerages recently commented on MRTN. Stephens dropped 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. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Marten Transport in a research report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $16.00.
Read Our Latest Report on Marten Transport
Marten Transport Price Performance
NASDAQ MRTN opened at $14.36 on Friday. Marten Transport, Ltd. has a 1 year low of $9.35 and a 1 year high of $18.48. The stock has a market capitalization of $1.17 billion, a PE ratio of 84.47 and a beta of 0.95. The company's 50 day simple moving average is $16.08 and its two-hundred day simple moving average is $15.14.
Marten Transport (NASDAQ:MRTN - Get Free Report) last announced its earnings results on Thursday, July 23rd. The transportation company reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.01). The business had revenue of $223.54 million during the quarter, compared to the consensus estimate of $227.10 million. Marten Transport had a return on equity of 1.65% and a net margin of 1.47%.Marten Transport's revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.09 earnings per share. On average, research analysts anticipate that Marten Transport, Ltd. will post 0.27 EPS for the current year.
Marten Transport Announces Dividend
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 paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Wednesday, September 16th. Marten Transport's dividend payout ratio (DPR) is 141.18%.
Marten Transport Profile
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Free Report)
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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