JPMorgan Chase & Co. grew its holdings in shares of Marten Transport, Ltd. (NASDAQ:MRTN – Free Report) by 22.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 685,308 shares of the transportation company’s stock after acquiring an additional 126,150 shares during the quarter. JPMorgan Chase & Co. owned about 0.84% of Marten Transport worth $12,130,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the stock. Rhumbline Advisers raised its holdings in shares of Marten Transport by 0.5% during the 2nd quarter. Rhumbline Advisers now owns 222,269 shares of the transportation company’s stock valued at $4,101,000 after buying an additional 1,162 shares in the last quarter. KBC Group NV lifted its stake in shares of Marten Transport by 54.6% in the 3rd quarter. KBC Group NV now owns 3,376 shares of the transportation company’s stock valued at $60,000 after acquiring an additional 1,192 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Marten Transport by 24.3% during the third quarter. Nisa Investment Advisors LLC now owns 6,587 shares of the transportation company’s stock valued at $117,000 after purchasing an additional 1,289 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of Marten Transport in the second quarter worth $28,000. Finally, Truist Financial Corp raised its holdings in Marten Transport by 10.4% during the 2nd quarter. Truist Financial Corp now owns 16,189 shares of the transportation company’s stock valued at $299,000 after buying an additional 1,522 shares during the last quarter. 69.12% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on MRTN shares. StockNews.com downgraded shares of Marten Transport from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Raymond James cut Marten Transport from an “outperform” rating to a “market perform” rating in a research note on Monday, October 14th.
Marten Transport Price Performance
MRTN stock opened at $15.26 on Friday. Marten Transport, Ltd. has a 1 year low of $14.96 and a 1 year high of $20.96. The firm has a 50-day moving average of $16.62 and a 200 day moving average of $17.04. The company has a market cap of $1.24 billion, a P/E ratio of 36.33 and a beta of 0.83.
Marten Transport (NASDAQ:MRTN – Get Free Report) last announced its earnings results on Thursday, October 17th. The transportation company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). Marten Transport had a return on equity of 4.41% and a net margin of 3.36%. The firm had revenue of $237.37 million during the quarter, compared to the consensus estimate of $244.00 million. On average, equities research analysts expect that Marten Transport, Ltd. will post 0.32 earnings per share for the current fiscal year.
Marten Transport Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.57%. The ex-dividend date was Friday, December 13th. Marten Transport’s dividend payout ratio is currently 57.14%.
Insider Activity
In other Marten Transport news, Director Jerry M. Bauer purchased 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was bought at an average cost of $15.81 per share, for a total transaction of $158,100.00. Following the purchase, the director now directly owns 156,444 shares in the company, valued at $2,473,379.64. The trade was a 6.83 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 22.90% of the company’s stock.
About Marten Transport
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.
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