Confluence Investment Management LLC reduced its stake in shares of Marten Transport, Ltd. (NASDAQ:MRTN – Get Rating ) by 5.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 221,013 shares of the transportation company’s stock after selling 13,253 shares during the period. Confluence Investment Management LLC owned about 0.27% of Marten Transport worth $4,372,000 as of its most recent SEC filing.
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Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jennison Associates LLC acquired a new position in shares of Marten Transport in the third quarter valued at about $698,000. Aviva PLC acquired a new position in shares of Marten Transport in the third quarter valued at about $1,531,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Marten Transport by 135.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 11,486 shares of the transportation company’s stock valued at $220,000 after acquiring an additional 6,601 shares during the last quarter. GHP Investment Advisors Inc. boosted its holdings in shares of Marten Transport by 3.9% in the second quarter. GHP Investment Advisors Inc. now owns 291,566 shares of the transportation company’s stock valued at $4,904,000 after acquiring an additional 10,937 shares during the last quarter. Finally, Fox Run Management LLC acquired a new stake in Marten Transport in the third quarter valued at approximately $202,000. 68.27% of the stock is owned by hedge funds and other institutional investors.
Marten Transport Trading up 2.1%
Shares of MRTN stock opened at $20.87 on Friday. The stock has a 50-day moving average of $21.55 and a 200-day moving average of $20.46. Marten Transport, Ltd. has a 12-month low of $15.76 and a 12-month high of $23.43. The company has a market cap of $1.69 billion, a P/E ratio of 15.46 and a beta of 0.88.
Marten Transport (NASDAQ:MRTN – Get Rating ) last posted its earnings results on Tuesday, January 24th. The transportation company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.30 by $0.01. The business had revenue of $322.58 million during the quarter, compared to the consensus estimate of $318.20 million. Marten Transport had a return on equity of 16.38% and a net margin of 8.73%. Marten Transport’s revenue increased by 20.9% year-on-year. In the same quarter last year, the company earned $0.30 EPS. Sell-side analysts predict that Marten Transport, Ltd. will report 1.33 earnings per share for the current fiscal year.
Marten Transport announces dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 17th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, March 16th. This represents a $0.24 annual dividend and a dividend yield of 1.15%. Marten Transport’s dividend payout ratio (DPR) is currently 17.78%.
Wall Street analysts forecast growth
Separately, StockNews.com began coverage on Marten Transport in a research report on Thursday. They issued a “buy” rating on the company.
Marten Transport company profile
Marten Transport EOOD is engaged in the provision of temperature-sensitive truck transport services. It operates through the following segments: Truckload, Dedicated, Intermodal and Brokerage. The Truckload segment includes the transportation of food and consumer packaged goods that require a temperature-controlled or insulated environment.
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