California Public Employees Retirement System lowered its position in Marten Transport, Ltd. (NASDAQ:MRTN) by 0.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,800 shares of the transportation company’s stock after selling 600 shares during the period. California Public Employees Retirement System owned about 0.20% of Marten Transport worth $1,566,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in Marten Transport by 14.7% in the first quarter. Wellington Management Group LLP now owns 1,841,229 shares of the transportation company’s stock worth $43,177,000 after buying an additional 235,974 shares in the last quarter. State Street Corp raised its stake in Marten Transport by 12.7% in the fourth quarter. State Street Corp now owns 609,214 shares of the transportation company’s stock worth $14,193,000 after buying an additional 68,704 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Marten Transport by 22.9% in the first quarter. Ameriprise Financial Inc. now owns 146,835 shares of the transportation company’s stock worth $3,443,000 after buying an additional 27,375 shares in the last quarter. Prudential Financial Inc. raised its stake in Marten Transport by 6.6% in the first quarter. Prudential Financial Inc. now owns 44,094 shares of the transportation company’s stock worth $1,034,000 after buying an additional 2,730 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in Marten Transport by 24.8% in the first quarter. Wells Fargo & Company MN now owns 23,707 shares of the transportation company’s stock worth $556,000 after buying an additional 4,710 shares in the last quarter. 40.97% of the stock is owned by hedge funds and other institutional investors.
Shares of Marten Transport, Ltd. (NASDAQ MRTN) traded up 1.24% during trading on Friday, hitting $16.35. 94,986 shares of the stock traded hands. The firm has a 50-day moving average of $16.34 and a 200-day moving average of $14.88. Marten Transport, Ltd. has a 1-year low of $11.22 and a 1-year high of $17.90. The firm has a market capitalization of $891.30 million, a price-to-earnings ratio of 26.29 and a beta of 1.27.
Marten Transport (NASDAQ:MRTN) last announced its earnings results on Thursday, July 20th. The transportation company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. Marten Transport had a net margin of 4.96% and a return on equity of 7.72%. The business had revenue of $171.51 million during the quarter, compared to the consensus estimate of $176.08 million. During the same quarter last year, the firm earned $0.26 earnings per share. Marten Transport’s quarterly revenue was up 3.3% on a year-over-year basis. On average, equities analysts forecast that Marten Transport, Ltd. will post $0.63 earnings per share for the current year.
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MRTN has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Marten Transport from a “hold” rating to a “sell” rating in a report on Wednesday, June 21st. ValuEngine raised shares of Marten Transport from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. BidaskClub lowered shares of Marten Transport from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Stifel Nicolaus lifted their target price on shares of Marten Transport from $13.20 to $15.00 and gave the stock a “hold” rating in a report on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $17.00.
In related news, Chairman Randolph L. Marten sold 50,000 shares of Marten Transport stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $25.51, for a total transaction of $1,275,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John H. Turner sold 4,000 shares of Marten Transport stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $25.59, for a total transaction of $102,360.00. The disclosure for this sale can be found here. 23.00% of the stock is owned by company insiders.
About Marten Transport
Marten Transport, Ltd. is a temperature-sensitive truckload carrier. The Company focuses on 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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