Algert Global LLC lifted its stake in Marten Transport, Ltd (NASDAQ:MRTN) by 175.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,219 shares of the transportation company’s stock after purchasing an additional 17,967 shares during the quarter. Algert Global LLC owned 0.05% of Marten Transport worth $512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. Princeton Global Asset Management LLC bought a new stake in shares of Marten Transport during the 1st quarter valued at about $35,000. BNP Paribas Arbitrage SA raised its holdings in shares of Marten Transport by 421.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 8,199 shares of the transportation company’s stock worth $146,000 after acquiring an additional 6,628 shares in the last quarter. M&T Bank Corp purchased a new stake in shares of Marten Transport during the 2nd quarter worth approximately $193,000. WINTON GROUP Ltd purchased a new stake in shares of Marten Transport during the 2nd quarter worth approximately $211,000. Finally, Capital Fund Management S.A. increased its position in shares of Marten Transport by 19.3% during the 2nd quarter. Capital Fund Management S.A. now owns 14,200 shares of the transportation company’s stock valued at $258,000 after purchasing an additional 2,300 shares during the last quarter. 69.24% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ MRTN traded up $1.05 during midday trading on Friday, hitting $21.21. The stock had a trading volume of 271,119 shares, compared to its average volume of 200,546. Marten Transport, Ltd has a 1 year low of $15.39 and a 1 year high of $22.37. The company has a market capitalization of $1.10 billion, a PE ratio of 21.21 and a beta of 1.49. The stock has a 50 day simple moving average of $20.35 and a 200-day simple moving average of $19.20.
Marten Transport (NASDAQ:MRTN) last released its earnings results on Thursday, July 18th. The transportation company reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.01. The firm had revenue of $212.10 million during the quarter, compared to analysts’ expectations of $208.45 million. Marten Transport had a return on equity of 10.25% and a net margin of 7.33%. Marten Transport’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.25 EPS. Equities research analysts anticipate that Marten Transport, Ltd will post 1.11 earnings per share for the current year.
The business also recently disclosed a None dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, August 26th were paid a dividend of $0.68 per share. The ex-dividend date of this dividend was Friday, August 23rd. Marten Transport’s dividend payout ratio is presently 12.00%.
MRTN has been the topic of several analyst reports. Stephens initiated coverage on Marten Transport in a research report on Monday, July 1st. They set a “hold” rating on the stock. Zacks Investment Research downgraded Marten Transport from a “hold” rating to a “sell” rating in a research report on Thursday. Stifel Nicolaus set a $18.00 price target on Marten Transport and gave the stock a “hold” rating in a research report on Friday, July 19th. Finally, BidaskClub cut Marten Transport from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $20.67.
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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