Public Sector Pension Investment Board Has $2.52 Million Position in Marten Transport, Ltd. $MRTN

Key Points

• The Public Sector Pension Investment Board increased its stake in Marten Transport by 27.3%, now owning 183,399 shares valued at approximately $2.5 million.
• Marten Transport's quarterly earnings matched consensus estimates with $0.09 EPS, but revenue fell 6.6% compared to the previous year.
• The company declared a quarterly dividend of $0.06 per share, representing a 2.0% yield, with a payout ratio of 92.31%.

Public Sector Pension Investment Board grew its holdings in Marten Transport, Ltd. (NASDAQ:MRTN - Free Report) by 27.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 183,399 shares of the transportation company's stock after buying an additional 39,300 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.23% of Marten Transport worth $2,516,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MRTN. LPL Financial LLC increased its stake in shares of Marten Transport by 7.3% in the fourth quarter. LPL Financial LLC now owns 33,447 shares of the transportation company's stock valued at $522,000 after buying an additional 2,267 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Marten Transport by 12.7% in the fourth quarter. Wells Fargo & Company MN now owns 36,388 shares of the transportation company's stock valued at $568,000 after buying an additional 4,091 shares in the last quarter. Invesco Ltd. increased its stake in shares of Marten Transport by 5.8% in the fourth quarter. Invesco Ltd. now owns 430,913 shares of the transportation company's stock valued at $6,727,000 after buying an additional 23,599 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Marten Transport in the fourth quarter valued at $878,000. Finally, Barclays PLC increased its stake in shares of Marten Transport by 3.5% in the fourth quarter. Barclays PLC now owns 141,327 shares of the transportation company's stock valued at $2,206,000 after buying an additional 4,829 shares in the last quarter. 69.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Marten Transport from a "sell" rating to a "hold" rating in a research note on Friday. One research 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, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.00.

Marten Transport Stock Down 2.7%

MRTN stock traded down $0.33 during midday trading on Monday, reaching $12.06. The stock had a trading volume of 506,873 shares, compared to its average volume of 673,044. The business has a fifty day simple moving average of $12.72 and a two-hundred day simple moving average of $13.32. The firm has a market cap of $983.13 million, a price-to-earnings ratio of 46.38 and a beta of 0.98. Marten Transport, Ltd. has a twelve month low of $11.57 and a twelve month high of $18.63.

Marten Transport (NASDAQ:MRTN - Get Free Report) last announced 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. The firm had revenue of $229.92 million during the quarter, compared to analyst estimates of $231.09 million. Marten Transport had a return on equity of 2.72% and a net margin of 2.27%.The company's revenue was down 6.6% on a year-over-year basis. During the same period last year, the company earned $0.10 earnings per share. On average, equities analysts predict that Marten Transport, Ltd. will post 0.41 earnings per share for the current fiscal 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 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Tuesday, September 16th. Marten Transport's 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.