Hotchkis & Wiley Capital Management LLC Sells 204,720 Shares of Marten Transport, Ltd. $MRTN

Key Points

• Hotchkis & Wiley Capital Management LLC has reduced its stake in Marten Transport by 49.6%, now holding approximately 0.26% of the company's shares valued at $2.86 million.
• Marten Transport recently reported $0.09 earnings per share for the quarter, matching analyst expectations, but showed a 6.6% decline in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.06 per share, equating to an annualized yield of 2.0%, with a payout ratio of 92.31%.

Hotchkis & Wiley Capital Management LLC trimmed its position in Marten Transport, Ltd. (NASDAQ:MRTN - Free Report) by 49.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 208,260 shares of the transportation company's stock after selling 204,720 shares during the period. Hotchkis & Wiley Capital Management LLC owned approximately 0.26% of Marten Transport worth $2,857,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Nuance Investments LLC lifted its stake in Marten Transport by 63.8% in the 1st quarter. Nuance Investments LLC now owns 5,237,442 shares of the transportation company's stock valued at $71,858,000 after acquiring an additional 2,040,631 shares in the last quarter. Nuveen LLC bought a new stake in shares of Marten Transport in the first quarter worth $8,133,000. Millennium Management LLC boosted its holdings in Marten Transport by 644.3% during the fourth quarter. Millennium Management LLC now owns 224,664 shares of the transportation company's stock worth $3,507,000 after purchasing an additional 194,481 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in Marten Transport by 64.1% during the fourth quarter. Nuveen Asset Management LLC now owns 432,775 shares of the transportation company's stock worth $6,756,000 after purchasing an additional 169,057 shares during the last quarter. Finally, American Century Companies Inc. grew its position in Marten Transport by 8.8% in the first quarter. American Century Companies Inc. now owns 1,961,073 shares of the transportation company's stock valued at $26,906,000 after purchasing an additional 158,028 shares in the last quarter. 69.12% of the stock is currently owned by institutional investors.

Marten Transport Price Performance

Shares of MRTN stock opened at $11.98 on Wednesday. The company has a fifty day moving average price of $12.70 and a two-hundred day moving average price of $13.31. Marten Transport, Ltd. has a one year low of $11.57 and a one year high of $18.63. The stock has a market cap of $976.61 million, a P/E ratio of 46.08 and a beta of 0.98.

Marten Transport (NASDAQ:MRTN - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The transportation company reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. Marten Transport had a net margin of 2.27% and a return on equity of 2.72%. The company had revenue of $229.92 million for the quarter, compared to analyst estimates of $231.09 million. During the same period in the previous year, the business earned $0.10 EPS. Marten Transport's revenue for the quarter was down 6.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Marten Transport, Ltd. will post 0.41 EPS 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 given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, September 16th. Marten Transport's dividend payout ratio (DPR) is presently 92.31%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Marten Transport from a "sell" rating to a "hold" rating in a research note on Friday, August 22nd. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $19.00.

About Marten Transport

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.