Goldman Sachs Group Inc. Has $3.73 Million Stake in Marten Transport, Ltd. $MRTN

Key Points

• Goldman Sachs Group Inc. reduced its stake in Marten Transport by 64.4%, selling 491,547 shares and leaving it with approximately 271,962 shares worth $3.73 million.
• Marten Transport recently announced a $0.06 quarterly dividend, providing a 2.1% dividend yield to shareholders, with a payout ratio of 92.31%.
• Despite meeting EPS estimates at $0.09, Marten Transport's revenue fell by 6.6% year-over-year, amounting to $229.92 million for the quarter.

Goldman Sachs Group Inc. lowered its holdings in shares of Marten Transport, Ltd. (NASDAQ:MRTN - Free Report) by 64.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 271,962 shares of the transportation company's stock after selling 491,547 shares during the period. Goldman Sachs Group Inc. owned about 0.33% of Marten Transport worth $3,731,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Voya Investment Management LLC boosted its position in Marten Transport by 10.4% during the 1st quarter. Voya Investment Management LLC now owns 204,818 shares of the transportation company's stock worth $2,810,000 after purchasing an additional 19,276 shares during the period. Caxton Associates LLP bought a new stake in Marten Transport in the first quarter valued at $158,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Marten Transport by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,496 shares of the transportation company's stock valued at $473,000 after acquiring an additional 1,447 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Marten Transport in the 1st quarter valued at about $3,216,000. Finally, AQR Capital Management LLC lifted its holdings in shares of Marten Transport by 18.7% in the first quarter. AQR Capital Management LLC now owns 61,335 shares of the transportation company's stock valued at $842,000 after buying an additional 9,654 shares during the period. Institutional investors and hedge funds own 69.12% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen cut Marten Transport from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $19.00.

Marten Transport Price Performance

Marten Transport stock traded down $0.00 during mid-day trading on Monday, hitting $11.07. 94,619 shares of the company were exchanged, compared to its average volume of 527,172. The company has a market capitalization of $902.18 million, a P/E ratio of 42.54 and a beta of 0.99. The business's 50 day simple moving average is $12.11 and its two-hundred day simple moving average is $12.91. Marten Transport, Ltd. has a 12-month low of $11.01 and a 12-month high of $18.63.

Marten Transport (NASDAQ:MRTN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The transportation company reported $0.09 EPS for the quarter, hitting analysts' consensus estimates of $0.09. Marten Transport had a return on equity of 2.72% and a net margin of 2.27%.The company had revenue of $229.92 million for the quarter, compared to analysts' expectations of $231.09 million. During the same quarter in the previous year, the firm posted $0.10 earnings per share. The firm's quarterly revenue was down 6.6% on a year-over-year basis. Equities research analysts predict that Marten Transport, Ltd. will post 0.41 earnings per share for the current year.

Marten Transport Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Tuesday, September 16th. Marten Transport's dividend payout ratio is presently 92.31%.

Marten Transport Profile

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.