Marten Transport, Ltd. (MRTN) Shares Bought by Bank of New York Mellon Corp
Bank of New York Mellon Corp lifted its stake in Marten Transport, Ltd. (NASDAQ:MRTN) by 7.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,232,898 shares of the transportation company’s stock after buying an additional 84,766 shares during the quarter. Bank of New York Mellon Corp owned approximately 2.26% of Marten Transport worth $33,782,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in shares of Marten Transport by 14.7% in the first quarter. Wellington Management Group LLP now owns 1,841,229 shares of the transportation company’s stock worth $43,177,000 after buying an additional 235,974 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Marten Transport by 7.7% in the first quarter. Vanguard Group Inc. now owns 1,232,866 shares of the transportation company’s stock worth $28,911,000 after buying an additional 87,941 shares in the last quarter. Granite Investment Partners LLC lifted its holdings in shares of Marten Transport by 71.2% in the second quarter. Granite Investment Partners LLC now owns 795,922 shares of the transportation company’s stock worth $13,085,000 after buying an additional 331,098 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Marten Transport by 814.8% in the first quarter. Goldman Sachs Group Inc. now owns 670,711 shares of the transportation company’s stock worth $15,729,000 after buying an additional 597,393 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Marten Transport by 1.6% in the first quarter. State Street Corp now owns 618,852 shares of the transportation company’s stock worth $14,510,000 after buying an additional 9,638 shares in the last quarter. 42.36% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently commented on MRTN. Zacks Investment Research downgraded shares of Marten Transport from a “buy” rating to a “hold” rating in a report on Friday, August 18th. BidaskClub raised shares of Marten Transport from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Stifel Nicolaus set a $15.00 price target on shares of Marten Transport and gave the company a “hold” rating in a research note on Wednesday, August 23rd. Finally, ValuEngine raised shares of Marten Transport from a “hold” rating to a “buy” rating in a research note on Tuesday, July 11th. One equities research 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’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $17.50.
Shares of Marten Transport, Ltd. (NASDAQ MRTN) opened at 18.40 on Friday. The company’s 50-day moving average is $16.47 and its 200-day moving average is $15.37. Marten Transport, Ltd. has a 1-year low of $11.22 and a 1-year high of $18.55. The stock has a market cap of $1.00 billion, a P/E ratio of 29.58 and a beta of 1.27.
Marten Transport (NASDAQ:MRTN) last announced its earnings results 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 for the quarter, compared to analysts’ expectations of $176.08 million. During the same quarter in the previous year, the company posted $0.26 EPS. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. Equities analysts expect that Marten Transport, Ltd. will post $0.63 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.54%. The ex-dividend date is Thursday, September 14th. This is a boost from Marten Transport’s previous quarterly dividend of $0.02. Marten Transport’s payout ratio is 9.58%.
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Marten Transport Company 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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