William Blair Investment Management LLC Sells 110,583 Shares of Marten Transport, Ltd. $MRTN

Key Points

• William Blair Investment Management LLC has reduced its stake in Marten Transport by 7.7%, now owning approximately 1.62% of the company worth about $17.15 million after selling 110,583 shares in the 2nd quarter.
• Marten Transport's stock has seen a 0.4% decline and currently trades at $10.81, with a market cap of $881.23 million and a price-to-earnings ratio of 41.58.
• The company declared a quarterly dividend of $0.06, which is part of an annualized dividend yield of 2.2% and a payout ratio of 92.31%.

William Blair Investment Management LLC lessened its stake in shares of Marten Transport, Ltd. (NASDAQ:MRTN - Free Report) by 7.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,320,316 shares of the transportation company's stock after selling 110,583 shares during the quarter. William Blair Investment Management LLC owned about 1.62% of Marten Transport worth $17,151,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in MRTN. GAMMA Investing LLC boosted its stake in shares of 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 acquiring an additional 12,445 shares in the last quarter. Canvas Wealth Advisors LLC boosted its stake in shares of Marten Transport by 81.1% during the 1st quarter. Canvas Wealth Advisors LLC now owns 62,496 shares of the transportation company's stock worth $831,000 after acquiring an additional 27,996 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Marten Transport during the 1st quarter worth about $1,803,000. Principal Financial Group Inc. boosted its stake in shares of Marten Transport by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 288,223 shares of the transportation company's stock worth $3,954,000 after acquiring an additional 7,351 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Marten Transport by 5.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 120,101 shares of the transportation company's stock worth $1,648,000 after acquiring an additional 5,874 shares in the last quarter. Institutional investors own 69.12% of the company's stock.

Marten Transport Stock Down 0.4%

Marten Transport stock opened at $10.81 on Monday. The business has a 50 day moving average price of $11.35 and a two-hundred day moving average price of $12.47. The stock has a market cap of $881.23 million, a price-to-earnings ratio of 41.58 and a beta of 0.95. Marten Transport, Ltd. has a 12 month low of $10.35 and a 12 month high of $18.63.

Marten Transport Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.24 annualized dividend and a yield of 2.2%. Marten Transport's dividend payout ratio is 92.31%.

Analysts Set New Price Targets

A number of analysts have issued reports on MRTN shares. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Marten Transport in a report on Wednesday, October 8th. Wall Street Zen downgraded Marten Transport from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average 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.

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