Keybank National Association OH Sells 8,422 Shares of Marten Transport, Ltd. $MRTN

Keybank National Association OH reduced its stake in shares of Marten Transport, Ltd. (NASDAQ:MRTN) by 33.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,684 shares of the transportation company’s stock after selling 8,422 shares during the quarter. Keybank National Association OH’s holdings in Marten Transport were worth $217,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MRTN. Teacher Retirement System of Texas bought a new stake in shares of Marten Transport in the 1st quarter valued at approximately $1,803,000. Principal Financial Group Inc. raised its holdings in Marten Transport by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 288,223 shares of the transportation company’s stock valued at $3,954,000 after buying an additional 7,351 shares during the period. Envestnet Asset Management Inc. raised its holdings in Marten Transport by 5.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 120,101 shares of the transportation company’s stock valued at $1,648,000 after buying an additional 5,874 shares during the period. Tectonic Advisors LLC lifted its position in Marten Transport by 27.9% in the first quarter. Tectonic Advisors LLC now owns 64,148 shares of the transportation company’s stock worth $880,000 after buying an additional 13,981 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Marten Transport by 1.6% during the first quarter. Victory Capital Management Inc. now owns 4,135,484 shares of the transportation company’s stock worth $56,739,000 after buying an additional 63,916 shares during the period. 69.12% of the stock is currently owned by hedge funds and other institutional investors.

Marten Transport Price Performance

NASDAQ MRTN opened at $9.80 on Friday. The company’s fifty day moving average price is $10.85 and its two-hundred day moving average price is $12.18. The company has a market capitalization of $798.90 million, a price-to-earnings ratio of 40.83 and a beta of 0.94. Marten Transport, Ltd. has a 12 month low of $9.67 and a 12 month high of $18.63.

Marten Transport (NASDAQ:MRTN) last posted its quarterly earnings results on Thursday, October 23rd. The transportation company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The firm had revenue of $220.47 million during the quarter, compared to analyst estimates of $230.38 million. Marten Transport had a return on equity of 2.52% and a net margin of 2.14%.The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter last year, the business posted $0.05 earnings per share. As a group, analysts anticipate that Marten Transport, Ltd. will post 0.41 EPS for the current year.

Marten Transport Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 16th. Marten Transport’s dividend payout ratio is currently 100.00%.

Analyst Ratings Changes

MRTN has been the subject of a number of recent analyst reports. Wall Street Zen cut shares of Marten Transport from a “hold” rating to a “sell” rating in a research note on Saturday, August 30th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Marten Transport in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $19.00.

Marten Transport Company Profile

Marten Transport, Ltd. operates as a temperature-sensitive truckload carrier for shippers in the United State, Mexico, and Canada. The company 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, as well as dry freight; and regional short-haul and medium-to-long-haul full-load transportation services.