Morgan Dempsey Capital Management LLC Sells 2,297 Shares of Marten Transport Ltd. (MRTN)
Morgan Dempsey Capital Management LLC decreased its stake in Marten Transport Ltd. (NASDAQ:MRTN) by 3.7% during the second quarter, Holdings Channel reports. The fund owned 59,470 shares of the company’s stock after selling 2,297 shares during the period. Morgan Dempsey Capital Management LLC’s holdings in Marten Transport were worth $1,178,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BNP Paribas Arbitrage SA increased its position in shares of Marten Transport by 104.7% in the second quarter. BNP Paribas Arbitrage SA now owns 7,133 shares of the company’s stock valued at $141,000 after buying an additional 3,648 shares in the last quarter. Arizona State Retirement System increased its position in shares of Marten Transport by 4.3% in the first quarter. Arizona State Retirement System now owns 12,157 shares of the company’s stock valued at $228,000 after buying an additional 500 shares in the last quarter. Huntington Asset Advisors Inc. bought a new position in shares of Marten Transport during the first quarter valued at approximately $496,000. Coyle Financial Counsel LLC increased its position in shares of Marten Transport by 1.8% in the second quarter. Coyle Financial Counsel LLC now owns 33,269 shares of the company’s stock valued at $659,000 after buying an additional 584 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Marten Transport during the first quarter valued at approximately $1,007,000. Institutional investors own 69.01% of the company’s stock.
Shares of Marten Transport Ltd. (NASDAQ:MRTN) traded down 1.10% during mid-day trading on Thursday, hitting $20.77. The stock had a trading volume of 49,485 shares. Marten Transport Ltd. has a 12 month low of $14.62 and a 12 month high of $22.27. The company has a market cap of $674.59 million, a PE ratio of 20.36 and a beta of 1.02. The stock’s 50-day moving average is $21.51 and its 200 day moving average is $20.16.
Marten Transport (NASDAQ:MRTN) last posted its quarterly earnings data on Tuesday, July 19th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. The company earned $166.10 million during the quarter, compared to analysts’ expectations of $168.17 million. Marten Transport had a return on equity of 8.19% and a net margin of 5.08%. On average, equities research analysts forecast that Marten Transport Ltd. will post $1.00 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 27th. Investors of record on Tuesday, September 13th were given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Friday, September 9th. Marten Transport’s dividend payout ratio (DPR) is presently 9.80%.
Several research analysts have commented on the company. Zacks Investment Research upgraded Marten Transport from a “sell” rating to a “hold” rating in a research note on Wednesday, September 21st. Avondale Partners downgraded Marten Transport from an “outperform” rating to a “market perform” rating and set a $22.00 target price for the company. in a research note on Friday, July 22nd.
In related news, insider John H. Turner sold 3,825 shares of the company’s stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $22.00, for a total transaction of $84,150.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Randolph L. Marten sold 100,000 shares of the company’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $21.76, for a total value of $2,176,000.00. The disclosure for this sale can be found here. Corporate insiders own 23.70% of the company’s stock.
Marten Transport Company Profile
Marten Transport, Ltd. is a national protective service transportation company. It is a temperature-sensitive truckload carrier. The Company specializes in 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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