Marten Transport, Ltd. $MRTN Shares Sold by Hodges Capital Management Inc.

Key Points

• Hodges Capital Management Inc. reduced its stake in Marten Transport by 45.4%, now holding 165,500 shares worth approximately $2.27 million.
• Multiple institutional investors adjusted their positions in Marten Transport, with PNC Financial Services increasing its stake by 44.6% during the same period.
• Marten Transport recently announced a quarterly dividend of $0.06, set to be paid on September 30th, indicating a 2.0% yield.

Hodges Capital Management Inc. decreased its stake in shares of Marten Transport, Ltd. (NASDAQ:MRTN - Free Report) by 45.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 165,500 shares of the transportation company's stock after selling 137,700 shares during the quarter. Hodges Capital Management Inc. owned about 0.20% of Marten Transport worth $2,271,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its stake in Marten Transport by 44.6% during the first quarter. PNC Financial Services Group Inc. now owns 7,428 shares of the transportation company's stock valued at $102,000 after buying an additional 2,291 shares during the last quarter. Caxton Associates LLP bought a new stake in shares of Marten Transport in the 1st quarter worth $158,000. GAMMA Investing LLC increased its holdings in shares of Marten Transport by 8,296.7% in the 1st quarter. GAMMA Investing LLC now owns 12,595 shares of the transportation company's stock worth $173,000 after purchasing an additional 12,445 shares in the last quarter. Aigen Investment Management LP grew its holdings in shares of Marten Transport by 6.0% in the first quarter. Aigen Investment Management LP now owns 13,648 shares of the transportation company's stock worth $187,000 after acquiring an additional 774 shares during the period. Finally, Royal Bank of Canada grew its holdings in shares of Marten Transport by 12.0% in the first quarter. Royal Bank of Canada now owns 17,028 shares of the transportation company's stock worth $234,000 after acquiring an additional 1,826 shares during the period. Hedge funds and other institutional investors own 69.12% of the company's stock.

Marten Transport Trading Down 0.3%

Shares of NASDAQ:MRTN traded down $0.03 during mid-day trading on Wednesday, reaching $11.57. The stock had a trading volume of 100,410 shares, compared to its average volume of 523,419. The company has a market cap of $943.19 million, a P/E ratio of 44.46 and a beta of 0.99. Marten Transport, Ltd. has a 1 year low of $11.43 and a 1 year high of $18.63. The business's 50 day moving average price is $12.27 and its 200 day moving average price is $12.98.

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

Marten Transport Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, September 16th. Marten Transport's dividend payout ratio is currently 92.31%.

Analyst Upgrades and Downgrades

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

Marten Transport Company 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.