Algert Global LLC Buys 17,967 Shares of Marten Transport, Ltd (NASDAQ:MRTN)

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Algert Global LLC increased its holdings in Marten Transport, Ltd (NASDAQ:MRTN) by 175.3% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 28,219 shares of the transportation company’s stock after buying an additional 17,967 shares during the quarter. Algert Global LLC owned about 0.05% of Marten Transport worth $512,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MRTN. Invesco Ltd. grew its stake in shares of Marten Transport by 10.6% during the 2nd quarter. Invesco Ltd. now owns 134,082 shares of the transportation company’s stock valued at $2,434,000 after acquiring an additional 12,886 shares during the period. BlackRock Inc. raised its holdings in shares of Marten Transport by 2.1% during the 2nd quarter. BlackRock Inc. now owns 6,192,428 shares of the transportation company’s stock worth $112,393,000 after acquiring an additional 126,004 shares in the last quarter. US Bancorp DE increased its position in shares of Marten Transport by 30.8% during the 2nd quarter. US Bancorp DE now owns 30,484 shares of the transportation company’s stock valued at $554,000 after purchasing an additional 7,175 shares during the last quarter. Northern Trust Corp increased its position in shares of Marten Transport by 2.6% during the 2nd quarter. Northern Trust Corp now owns 1,062,458 shares of the transportation company’s stock valued at $19,283,000 after purchasing an additional 26,712 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Marten Transport by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,433,302 shares of the transportation company’s stock valued at $26,012,000 after purchasing an additional 67,814 shares during the last quarter. Institutional investors own 69.24% of the company’s stock.

Marten Transport stock traded up $1.05 during trading on Friday, reaching $21.21. 271,119 shares of the company were exchanged, compared to its average volume of 200,546. Marten Transport, Ltd has a 52-week low of $15.39 and a 52-week high of $22.37. The company has a market capitalization of $1.10 billion, a P/E ratio of 21.21 and a beta of 1.49. The stock’s 50 day simple moving average is $20.35 and its two-hundred day simple moving average is $19.20.

Marten Transport (NASDAQ:MRTN) last posted its earnings results on Thursday, July 18th. The transportation company reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.01. The business had revenue of $212.10 million during the quarter, compared to the consensus estimate of $208.45 million. Marten Transport had a return on equity of 10.25% and a net margin of 7.33%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 EPS. Equities research analysts predict that Marten Transport, Ltd will post 1.11 earnings per share for the current year.

The business also recently disclosed a None dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, August 26th were paid a dividend of $0.68 per share. The ex-dividend date of this dividend was Friday, August 23rd. Marten Transport’s dividend payout ratio is presently 12.00%.

MRTN has been the topic of several analyst reports. Stephens initiated coverage on Marten Transport in a research report on Monday, July 1st. They set a “hold” rating on the stock. Zacks Investment Research downgraded Marten Transport from a “hold” rating to a “sell” rating in a research report on Thursday. Stifel Nicolaus set a $18.00 price target on Marten Transport and gave the stock a “hold” rating in a research report on Friday, July 19th. Finally, BidaskClub cut Marten Transport from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The stock has a consensus rating of “Hold” and an average target price of $20.67.

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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Institutional Ownership by Quarter for Marten Transport (NASDAQ:MRTN)

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