Nuveen LLC Purchases New Stake in Marten Transport, Ltd. $MRTN

Key Points

• Nuveen LLC acquired a new stake in Marten Transport, Ltd., purchasing 592,797 shares valued at approximately $8.13 million, constituting 0.73% of the company.
• The stock received upgrades from analysts, with one investment analyst rating it as a "Moderate Buy" and an average price target of $19.00.
• Marten Transport recently announced a quarterly dividend of $0.06 per share, with a dividend yield of 1.9%, and its payout ratio stands at 92.31%.

Nuveen LLC acquired a new position in shares of Marten Transport, Ltd. (NASDAQ:MRTN - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 592,797 shares of the transportation company's stock, valued at approximately $8,133,000. Nuveen LLC owned about 0.73% of Marten Transport at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of MRTN. Johnson Financial Group Inc. bought a new position in Marten Transport during the 4th quarter worth approximately $48,000. PNC Financial Services Group Inc. raised its holdings in Marten Transport by 44.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,428 shares of the transportation company's stock worth $102,000 after buying an additional 2,291 shares during the period. GAMMA Investing LLC raised its holdings in Marten Transport by 8,296.7% during the 1st quarter. GAMMA Investing LLC now owns 12,595 shares of the transportation company's stock worth $173,000 after buying an additional 12,445 shares during the period. Aigen Investment Management LP raised its holdings in Marten Transport by 6.0% during the 1st quarter. Aigen Investment Management LP now owns 13,648 shares of the transportation company's stock worth $187,000 after buying an additional 774 shares during the period. Finally, XTX Topco Ltd acquired a new stake in Marten Transport during the 4th quarter worth approximately $218,000. Institutional investors own 69.12% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Marten Transport from a "sell" rating to a "hold" rating in a report on Friday, August 22nd. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.00.

Marten Transport Stock Down 0.2%

Shares of Marten Transport stock traded down $0.02 during trading on Friday, reaching $11.84. The company's stock had a trading volume of 406,850 shares, compared to its average volume of 614,822. The business's 50-day moving average price is $12.65 and its 200-day moving average price is $13.26. The firm has a market cap of $965.20 million, a PE ratio of 45.54 and a beta of 0.98. Marten Transport, Ltd. has a 52 week low of $11.57 and a 52 week high of $18.63.

Marten Transport (NASDAQ:MRTN - Get Free Report) last announced its 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. The company had revenue of $229.92 million during the quarter, compared to analysts' expectations of $231.09 million. Marten Transport had a net margin of 2.27% and a return on equity of 2.72%. Marten Transport's quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.10 earnings per share. Equities analysts predict that Marten Transport, Ltd. will post 0.41 earnings per share for the current year.

Marten Transport Dividend Announcement

The firm 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 $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 payout ratio is presently 92.31%.

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.