Jacobs Levy Equity Management Inc. Buys New Shares in Marten Transport, Ltd. $MRTN

Key Points

• Jacobs Levy Equity Management Inc. invested approximately $3.22 million in Marten Transport, acquiring a total of 234,424 shares, making up 0.29% of the company's stock.
• Marten Transport's quarterly earnings report showed an EPS of $0.09, meeting estimates, but revenue dropped 6.6% year-over-year to $229.92 million.
• The company declared a quarterly dividend of $0.06 per share, with an annualized yield of **2.1%**, scheduled to be paid on September 30th.

Jacobs Levy Equity Management Inc. acquired a new stake in Marten Transport, Ltd. (NASDAQ:MRTN - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 234,424 shares of the transportation company's stock, valued at approximately $3,216,000. Jacobs Levy Equity Management Inc. owned about 0.29% of Marten Transport as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. grew its holdings in Marten Transport by 5.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 120,101 shares of the transportation company's stock worth $1,648,000 after buying an additional 5,874 shares in the last quarter. Northern Trust Corp grew its holdings in Marten Transport by 4.5% in the 4th quarter. Northern Trust Corp now owns 933,776 shares of the transportation company's stock worth $14,576,000 after buying an additional 40,237 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in Marten Transport by 27.3% in the 1st quarter. Public Sector Pension Investment Board now owns 183,399 shares of the transportation company's stock worth $2,516,000 after buying an additional 39,300 shares in the last quarter. Nuveen Asset Management LLC lifted its position in Marten Transport by 64.1% in 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 period. Finally, Millennium Management LLC lifted its position in Marten Transport by 644.3% in 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 period. 69.12% of the stock is owned by institutional investors.

Marten Transport Trading Up 0.8%

Marten Transport stock traded up $0.09 during mid-day trading on Monday, hitting $11.78. 75,921 shares of the company's stock were exchanged, compared to its average volume of 521,433. Marten Transport, Ltd. has a 1-year low of $11.43 and a 1-year high of $18.63. The stock has a 50 day moving average of $12.34 and a two-hundred day moving average of $13.01. The stock has a market cap of $960.31 million, a P/E ratio of 45.35 and a beta of 0.99.

Marten Transport (NASDAQ:MRTN - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The transportation company reported $0.09 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $231.09 million. During the same period in the prior year, the company earned $0.10 earnings per share. The business's quarterly revenue was down 6.6% compared to the same quarter last year. As a group, research analysts predict that Marten Transport, Ltd. will post 0.41 EPS for the current fiscal year.

Marten Transport Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Tuesday, September 16th. Marten Transport's dividend payout ratio is 92.31%.

Analyst Ratings Changes

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

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.