Arizona State Retirement System grew its stake in shares of Marten Transport, Ltd (NASDAQ:MRTN) by 223.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 65,012 shares of the transportation company’s stock after buying an additional 44,917 shares during the quarter. Arizona State Retirement System owned 0.12% of Marten Transport worth $1,320,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. Wells Fargo & Company MN raised its position in shares of Marten Transport by 19.0% during the 4th quarter. Wells Fargo & Company MN now owns 69,669 shares of the transportation company’s stock valued at $1,414,000 after buying an additional 11,105 shares in the last quarter. First Trust Advisors LP purchased a new stake in shares of Marten Transport during the 4th quarter valued at $1,810,000. Swiss National Bank raised its position in shares of Marten Transport by 6.1% during the 4th quarter. Swiss National Bank now owns 69,583 shares of the transportation company’s stock valued at $1,413,000 after buying an additional 4,000 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Marten Transport by 4.6% during the 4th quarter. California Public Employees Retirement System now owns 112,604 shares of the transportation company’s stock valued at $2,286,000 after buying an additional 4,938 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Marten Transport during the 4th quarter valued at $284,000. Hedge funds and other institutional investors own 67.62% of the company’s stock.
Several analysts have recently weighed in on MRTN shares. Zacks Investment Research upgraded shares of Marten Transport from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Saturday, January 20th. BidaskClub upgraded shares of Marten Transport from a “hold” rating to a “buy” rating in a research report on Tuesday, January 16th. Seaport Global Securities upgraded shares of Marten Transport from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Friday, January 26th. Finally, Stephens reiterated a “buy” rating and issued a $25.00 target price on shares of Marten Transport in a research report on Wednesday, January 10th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $23.50.
In related news, Director Thomas J. Winkel sold 6,250 shares of Marten Transport stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $22.55, for a total value of $140,937.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Larry B. Hagness sold 12,000 shares of Marten Transport stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $23.39, for a total transaction of $280,680.00. The disclosure for this sale can be found here. 23.00% of the stock is owned by company insiders.
Marten Transport, Ltd (NASDAQ:MRTN) opened at $23.75 on Friday. The company has a market cap of $1,260.47, a price-to-earnings ratio of 37.26 and a beta of 1.40. Marten Transport, Ltd has a 52-week low of $12.99 and a 52-week high of $29.60.
Marten Transport (NASDAQ:MRTN) last issued its earnings results on Thursday, January 25th. The transportation company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. The company had revenue of $182.70 million for the quarter, compared to analysts’ expectations of $177.55 million. Marten Transport had a net margin of 12.93% and a return on equity of 7.17%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 EPS. analysts expect that Marten Transport, Ltd will post 0.91 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Monday, March 19th will be given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Friday, March 16th. Marten Transport’s payout ratio is presently 6.10%.
COPYRIGHT VIOLATION WARNING: “Arizona State Retirement System Boosts Stake in Marten Transport, Ltd (MRTN)” was posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this piece on another publication, it was copied illegally and republished in violation of United States and international copyright & trademark legislation. The legal version of this piece can be viewed at https://www.dispatchtribunal.com/2018/03/17/arizona-state-retirement-system-boosts-stake-in-marten-transport-ltd-mrtn.html.
About Marten Transport
Marten Transport, Ltd. is a temperature-sensitive truckload carrier. The Company focuses on transporting and distributing food and other consumer-packaged goods that require a temperature-controlled or insulated environment. The Company operates through four segments: Truckload, Dedicated, Intermodal and Brokerage.
Receive News & Ratings for Marten Transport Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marten Transport and related companies with MarketBeat.com's FREE daily email newsletter.