BNP Paribas Arbitrage SA increased its stake in Marten Transport, Ltd. (NASDAQ:MRTN) by 547.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,946 shares of the transportation company’s stock after purchasing an additional 12,638 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Marten Transport were worth $244,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in MRTN. Victory Capital Management Inc. raised its stake in shares of Marten Transport by 0.4% in the 2nd quarter. Victory Capital Management Inc. now owns 2,761,932 shares of the transportation company’s stock valued at $69,490,000 after acquiring an additional 10,388 shares in the last quarter. Vanguard Group Inc. boosted its stake in Marten Transport by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 2,460,454 shares of the transportation company’s stock valued at $61,905,000 after buying an additional 9,447 shares in the last quarter. State Street Corp boosted its stake in Marten Transport by 11.0% in the 1st quarter. State Street Corp now owns 1,361,547 shares of the transportation company’s stock valued at $27,939,000 after buying an additional 135,200 shares in the last quarter. FMR LLC boosted its stake in Marten Transport by 149.8% in the first quarter. FMR LLC now owns 917,248 shares of the transportation company’s stock worth $16,354,000 after purchasing an additional 550,088 shares in the last quarter. Finally, Morgan Stanley boosted its stake in Marten Transport by 133.7% in the first quarter. Morgan Stanley now owns 486,239 shares of the transportation company’s stock worth $9,976,000 after purchasing an additional 278,141 shares in the last quarter. Hedge funds and other institutional investors own 47.45% of the company’s stock.
In other news, Director Jerry M. Bauer bought 7,070 shares of the firm’s stock in a transaction that occurred on Friday, October 30th. The stock was acquired at an average cost of $15.25 per share, with a total value of $107,817.50. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, VP John H. Turner sold 10,000 shares of the business’s stock in a transaction dated Tuesday, November 17th. The shares were sold at an average price of $18.75, for a total value of $187,500.00. The disclosure for this sale can be found here. 22.80% of the stock is currently owned by insiders.
Several equities analysts have recently issued reports on the company. Zacks Investment Research raised Marten Transport from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Wednesday, October 7th. ValuEngine upgraded Marten Transport from a “sell” rating to a “hold” rating in a report on Friday, November 13th. BidaskClub downgraded Marten Transport from a “hold” rating to a “sell” rating in a report on Saturday, September 19th. Finally, KeyCorp reduced their price objective on Marten Transport from $31.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, September 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $18.17.
Marten Transport stock opened at $18.32 on Friday. The stock’s fifty day moving average price is $16.76 and its two-hundred day moving average price is $17.07. Marten Transport, Ltd. has a one year low of $10.67 and a one year high of $20.13. The firm has a market cap of $1.51 billion, a PE ratio of 22.90 and a beta of 1.04.
Marten Transport (NASDAQ:MRTN) last issued its quarterly earnings results on Thursday, October 15th. The transportation company reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.02. Marten Transport had a return on equity of 10.58% and a net margin of 7.60%. The company had revenue of $216.01 million for the quarter, compared to analyst estimates of $223.03 million. During the same quarter last year, the company posted $0.30 EPS. The company’s revenue for the quarter was up .5% compared to the same quarter last year. On average, equities analysts expect that Marten Transport, Ltd. will post 0.79 earnings per share for the current year.
The business also recently announced a None dividend, which will be paid on Monday, December 28th. Shareholders of record on Monday, December 14th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, December 11th. This is an increase from Marten Transport’s previous None dividend of $0.45. This represents a yield of 0.9%. Marten Transport’s payout ratio is presently 21.62%.
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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