Marten Transport, Ltd. (NASDAQ:MRTN) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its position in Marten Transport, Ltd. (NASDAQ:MRTN) by 1.3% during the 4th quarter, Holdings Channel reports. The fund owned 4,197,076 shares of the transportation company’s stock after selling 56,663 shares during the quarter. Victory Capital Management Inc. owned about 0.05% of Marten Transport worth $88,055,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in MRTN. Wellington Management Group LLP purchased a new stake in Marten Transport in the 3rd quarter valued at approximately $12,907,000. TimesSquare Capital Management LLC raised its position in Marten Transport by 56.5% in the third quarter. TimesSquare Capital Management LLC now owns 1,038,150 shares of the transportation company’s stock worth $20,462,000 after acquiring an additional 374,755 shares in the last quarter. Invesco Ltd. lifted its holdings in Marten Transport by 26.0% in the third quarter. Invesco Ltd. now owns 452,561 shares of the transportation company’s stock valued at $8,920,000 after acquiring an additional 93,417 shares during the period. American Century Companies Inc. boosted its position in shares of Marten Transport by 11.4% during the 3rd quarter. American Century Companies Inc. now owns 893,616 shares of the transportation company’s stock worth $17,613,000 after purchasing an additional 91,508 shares in the last quarter. Finally, Scopus Asset Management L.P. acquired a new position in shares of Marten Transport during the 3rd quarter worth $1,141,000. 69.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Stephens decreased their price objective on shares of Marten Transport from $23.00 to $21.00 and set an “overweight” rating on the stock in a report on Friday, April 19th. Vertical Research upgraded Marten Transport from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Wednesday, January 10th.

Marten Transport Trading Up 1.3 %

Shares of NASDAQ MRTN opened at $17.44 on Friday. The company’s 50-day moving average price is $17.87 and its 200 day moving average price is $18.80. Marten Transport, Ltd. has a 52 week low of $15.33 and a 52 week high of $23.38. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 24.56 and a beta of 0.79.

Marten Transport (NASDAQ:MRTN) last released its quarterly earnings results on Thursday, April 18th. The transportation company reported $0.12 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.12. Marten Transport had a return on equity of 7.65% and a net margin of 5.31%. The company had revenue of $249.67 million during the quarter, compared to analysts’ expectations of $262.77 million. During the same period in the previous year, the firm posted $0.28 earnings per share. The business’s revenue for the quarter was down 16.2% compared to the same quarter last year.

Marten Transport Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.06 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.24 dividend on an annualized basis and a yield of 1.38%. Marten Transport’s dividend payout ratio (DPR) is currently 33.80%.

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.