Granite Investment Partners LLC raised its stake in Marten Transport, Ltd. (NASDAQ:MRTN) by 71.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 795,922 shares of the transportation company’s stock after buying an additional 331,098 shares during the period. Granite Investment Partners LLC’s holdings in Marten Transport were worth $13,085,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MRTN. Bank of Montreal Can boosted its position in shares of Marten Transport by 376.0% in the first quarter. Bank of Montreal Can now owns 4,355 shares of the transportation company’s stock valued at $101,000 after buying an additional 3,440 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Marten Transport by 2.4% in the first quarter. PNC Financial Services Group Inc. now owns 4,688 shares of the transportation company’s stock worth $111,000 after buying an additional 108 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Marten Transport by 78.9% in the second quarter. State of Alaska Department of Revenue now owns 4,580 shares of the transportation company’s stock worth $125,000 after buying an additional 2,020 shares during the period. Mason Street Advisors LLC boosted its position in shares of Marten Transport by 7.2% in the first quarter. Mason Street Advisors LLC now owns 5,418 shares of the transportation company’s stock worth $127,000 after buying an additional 365 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of Marten Transport by 17.3% in the first quarter. Victory Capital Management Inc. now owns 9,104 shares of the transportation company’s stock worth $213,000 after buying an additional 1,342 shares during the period. 40.66% of the stock is currently owned by institutional investors.

Marten Transport, Ltd. (MRTN) opened at 16.35 on Thursday. The company has a 50-day moving average of $16.30 and a 200-day moving average of $14.97. Marten Transport, Ltd. has a 52 week low of $11.22 and a 52 week high of $17.90. The company has a market capitalization of $891.30 million, a PE ratio of 26.29 and a beta of 1.27.

Marten Transport (NASDAQ:MRTN) last issued its quarterly earnings results on Thursday, July 20th. The transportation company reported $0.17 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.02. The firm had revenue of $171.51 million for the quarter, compared to analyst estimates of $176.08 million. Marten Transport had a net margin of 4.96% and a return on equity of 7.72%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.26 EPS. On average, equities research analysts anticipate that Marten Transport, Ltd. will post $0.63 EPS for the current year.

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A number of brokerages recently issued reports on MRTN. BidaskClub cut shares of Marten Transport from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Zacks Investment Research raised shares of Marten Transport from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research note on Tuesday, July 25th. Stifel Nicolaus lifted their price objective on shares of Marten Transport from $13.20 to $15.00 and gave the company a “hold” rating in a research note on Tuesday, April 25th. Finally, ValuEngine raised shares of Marten Transport from a “hold” rating to a “buy” rating in a research note on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Marten Transport presently has a consensus rating of “Hold” and an average price target of $17.00.

In other news, Chairman Randolph L. Marten sold 50,000 shares of the stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $25.51, for a total value of $1,275,500.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John H. Turner sold 4,000 shares of the stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $25.59, for a total transaction of $102,360.00. The disclosure for this sale can be found here. 23.00% of the stock is owned by corporate insiders.

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.

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Institutional Ownership by Quarter for Marten Transport (NASDAQ:MRTN)

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