Vanguard Group Inc. Buys 28,574 Shares of Marten Transport, Ltd. (MRTN)
Vanguard Group Inc. lifted its stake in Marten Transport, Ltd. (NASDAQ:MRTN) by 2.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,261,440 shares of the transportation company’s stock after buying an additional 28,574 shares during the quarter. Vanguard Group Inc. owned approximately 2.31% of Marten Transport worth $34,563,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its stake 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 last quarter. SG Americas Securities LLC purchased a new stake in shares of Marten Transport in the second quarter worth about $116,000. State of Alaska Department of Revenue boosted its stake 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 last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Marten Transport by 60.4% in the second quarter. BNP Paribas Arbitrage SA now owns 8,013 shares of the transportation company’s stock worth $220,000 after buying an additional 3,017 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan boosted its stake in shares of Marten Transport by 66.4% in the second quarter. Municipal Employees Retirement System of Michigan now owns 8,720 shares of the transportation company’s stock worth $239,000 after buying an additional 3,480 shares during the last quarter. Hedge funds and other institutional investors own 44.03% of the company’s stock.
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A number of brokerages have recently commented on MRTN. Stifel Nicolaus restated a “hold” rating and issued a $15.00 target price on shares of Marten Transport in a research note on Sunday, October 1st. Zacks Investment Research upgraded Marten Transport from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Tuesday, October 3rd. Finally, BidaskClub raised Marten Transport from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $19.00.
Marten Transport, Ltd. (MRTN) opened at $18.70 on Thursday. The firm has a market capitalization of $1,022.28, a PE ratio of 30.74 and a beta of 1.35. Marten Transport, Ltd. has a fifty-two week low of $12.06 and a fifty-two week high of $21.15.
Marten Transport (NASDAQ:MRTN) last released its quarterly earnings results on Thursday, October 19th. The transportation company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The company had revenue of $170.70 million during the quarter, compared to analysts’ expectations of $169.67 million. Marten Transport had a return on equity of 7.45% and a net margin of 4.87%. Marten Transport’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.26 EPS. research analysts predict that Marten Transport, Ltd. will post 0.62 earnings per share for the current year.
Marten Transport Profile
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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