Scopus Asset Management L.P. lifted its holdings in shares of Marten Transport, Ltd (NASDAQ:MRTN) by 4.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 305,694 shares of the transportation company’s stock after purchasing an additional 12,050 shares during the period. Scopus Asset Management L.P.’s holdings in Marten Transport were worth $6,970,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. BlackRock Inc. raised its stake in shares of Marten Transport by 10.5% during the 4th quarter. BlackRock Inc. now owns 5,262,557 shares of the transportation company’s stock worth $106,829,000 after buying an additional 499,269 shares in the last quarter. Clearbridge LLC raised its stake in shares of Marten Transport by 10.4% during the 4th quarter. Clearbridge LLC now owns 845,774 shares of the transportation company’s stock worth $17,169,000 after buying an additional 79,360 shares in the last quarter. First Trust Advisors LP purchased a new position in shares of Marten Transport during the 4th quarter worth approximately $1,810,000. AlphaOne Investment Services LLC raised its stake in shares of Marten Transport by 1.1% during the 4th quarter. AlphaOne Investment Services LLC now owns 223,047 shares of the transportation company’s stock worth $4,528,000 after buying an additional 2,389 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake 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 worth $2,286,000 after buying an additional 4,938 shares in the last quarter. 68.10% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently issued reports on MRTN shares. BidaskClub downgraded Marten Transport from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Zacks Investment Research raised Marten Transport from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Tuesday, March 20th. ValuEngine raised Marten Transport from a “hold” rating to a “buy” rating in a research note on Thursday, March 22nd. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $20.00 price objective on shares of Marten Transport in a research note on Thursday, April 5th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $25.25.
NASDAQ MRTN opened at $24.05 on Friday. Marten Transport, Ltd has a 1-year low of $15.60 and a 1-year high of $29.60. The company has a market capitalization of $1.26 billion, a P/E ratio of 38.79 and a beta of 1.40.
Marten Transport (NASDAQ:MRTN) last released its quarterly earnings data on Thursday, April 19th. The transportation company reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19. Marten Transport had a return on equity of 7.27% and a net margin of 12.98%. The firm had revenue of $187.00 million during the quarter, compared to the consensus estimate of $188.70 million. During the same period last year, the business posted $0.25 EPS. Marten Transport’s quarterly revenue was up 8.0% on a year-over-year basis. equities analysts predict that Marten Transport, Ltd will post 0.92 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be paid a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.42%. The ex-dividend date is Thursday, June 14th. Marten Transport’s payout ratio is currently 16.13%.
In other news, VP James J. Hinnendael acquired 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 25th. The stock was purchased at an average cost of $19.98 per share, with a total value of $149,850.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 22.90% of the company’s stock.
About Marten Transport
Marten Transport, Ltd. operates as a temperature-sensitive truckload carrier for shippers in the United States, Canada, and Mexico. It 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.
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