Argent Capital Management LLC trimmed its holdings in shares of Marten Transport, Ltd. (NASDAQ:MRTN) by 6.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,190 shares of the transportation company’s stock after selling 1,725 shares during the period. Argent Capital Management LLC’s holdings in Marten Transport were worth $411,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Verity Asset Management Inc. raised its position in shares of Marten Transport by 63.0% during the 1st quarter. Verity Asset Management Inc. now owns 16,813 shares of the transportation company’s stock worth $285,000 after buying an additional 6,497 shares in the last quarter. Glenmede Trust Co. NA lifted its holdings in shares of Marten Transport by 10.8% in the fourth quarter. Glenmede Trust Co. NA now owns 45,547 shares of the transportation company’s stock valued at $784,000 after buying an additional 4,423 shares during the period. Guggenheim Capital LLC acquired a new stake in shares of Marten Transport in the fourth quarter valued at $378,000. 12th Street Asset Management Company LLC boosted its stake in Marten Transport by 0.4% during the fourth quarter. 12th Street Asset Management Company LLC now owns 512,748 shares of the transportation company’s stock valued at $8,835,000 after buying an additional 1,897 shares in the last quarter. Finally, 6 Meridian bought a new stake in Marten Transport in the first quarter worth about $214,000. Institutional investors and hedge funds own 69.62% of the company’s stock.
A number of analysts recently commented on the stock. Vertical Research assumed coverage on shares of Marten Transport in a report on Friday, March 26th. They issued a “buy” rating and a $22.00 target price on the stock. Zacks Investment Research lowered Marten Transport from a “buy” rating to a “hold” rating in a research note on Thursday, May 13th.
Marten Transport (NASDAQ:MRTN) last posted its quarterly earnings data on Wednesday, April 14th. The transportation company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. Marten Transport had a net margin of 8.40% and a return on equity of 11.67%. The firm had revenue of $223.05 million during the quarter, compared to analyst estimates of $224.05 million. During the same quarter last year, the business posted $0.25 EPS. The company’s revenue was up 2.0% on a year-over-year basis. On average, analysts anticipate that Marten Transport, Ltd. will post 1.02 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 30th. Shareholders of record on Wednesday, June 16th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Tuesday, June 15th. This represents a $0.16 annualized dividend and a yield of 0.95%. Marten Transport’s dividend payout ratio (DPR) is presently 19.05%.
In other news, Director Thomas J. Winkel sold 6,000 shares of the stock in a transaction that occurred on Thursday, March 18th. The shares were sold at an average price of $16.77, for a total value of $100,620.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 22.50% of the stock is owned by corporate insiders.
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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