Marten Transport, Ltd. (MRTN) Shares Sold by Prudential Financial Inc.
Prudential Financial Inc. lowered its stake in shares of Marten Transport, Ltd. (NASDAQ:MRTN) by 7.4% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 40,844 shares of the transportation company’s stock after selling 3,250 shares during the period. Prudential Financial Inc. owned approximately 0.07% of Marten Transport worth $1,119,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of Marten Transport during the 2nd quarter worth approximately $116,000. Bank of Montreal Can boosted its position in shares of Marten Transport by 376.0% during the 1st quarter. Bank of Montreal Can now owns 4,355 shares of the transportation company’s stock worth $101,000 after purchasing an additional 3,440 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Marten Transport by 78.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 4,580 shares of the transportation company’s stock worth $125,000 after purchasing an additional 2,020 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Marten Transport by 2.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,688 shares of the transportation company’s stock worth $111,000 after purchasing an additional 108 shares during the period. Finally, Mason Street Advisors LLC boosted its position in shares of Marten Transport by 7.2% during the 1st quarter. Mason Street Advisors LLC now owns 5,418 shares of the transportation company’s stock worth $127,000 after purchasing an additional 365 shares during the period. 42.36% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently weighed in on MRTN. Zacks Investment Research cut shares of Marten Transport from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. BidaskClub upgraded shares of Marten Transport from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Finally, Stifel Nicolaus set a $15.00 target price on shares of Marten Transport and gave the stock a “hold” rating in a report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $19.00.
Shares of Marten Transport, Ltd. (NASDAQ:MRTN) opened at 20.00 on Thursday. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 32.15 and a beta of 1.32. Marten Transport, Ltd. has a 12-month low of $11.22 and a 12-month high of $21.15. The firm’s 50-day moving average is $17.95 and its 200-day moving average is $15.97.
Marten Transport (NASDAQ:MRTN) last released its quarterly earnings data on Thursday, July 20th. The transportation company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.02. Marten Transport had a net margin of 4.96% and a return on equity of 7.72%. The company had revenue of $171.51 million during the quarter, compared to the consensus estimate of $176.08 million. During the same period in the previous year, the firm earned $0.26 earnings per share. Marten Transport’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities research analysts forecast that Marten Transport, Ltd. will post $0.63 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were paid a dividend of $0.025 per share. This is an increase from Marten Transport’s previous quarterly dividend of $0.02. This represents a $0.10 annualized dividend and a yield of 0.50%. The ex-dividend date was Thursday, September 14th. Marten Transport’s payout ratio is currently 15.97%.
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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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