Confluence Investment Management LLC Takes Position in Marten Transport, Ltd. (NASDAQ:MRTN)

Confluence Investment Management LLC acquired a new stake in shares of Marten Transport, Ltd. (NASDAQ:MRTN) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 161,692 shares of the transportation company’s stock, valued at approximately $2,988,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP acquired a new position in shares of Marten Transport in the 3rd quarter valued at $12,907,000. Empirical Capital Management LLC acquired a new position in shares of Marten Transport in the 4th quarter valued at $9,997,000. First Trust Advisors LP increased its position in shares of Marten Transport by 47.3% in the 4th quarter. First Trust Advisors LP now owns 1,406,400 shares of the transportation company’s stock valued at $29,506,000 after acquiring an additional 451,340 shares during the period. TimesSquare Capital Management LLC increased its position in shares of Marten Transport by 56.5% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,038,150 shares of the transportation company’s stock valued at $20,462,000 after acquiring an additional 374,755 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Marten Transport by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 4,338,538 shares of the transportation company’s stock valued at $91,023,000 after acquiring an additional 132,407 shares during the period. Hedge funds and other institutional investors own 69.12% of the company’s stock.

Marten Transport Trading Down 0.4 %

MRTN traded down $0.07 during midday trading on Tuesday, hitting $17.45. 69,856 shares of the company were exchanged, compared to its average volume of 430,578. The company’s 50 day simple moving average is $17.43 and its 200 day simple moving average is $18.68. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 24.68 and a beta of 0.76. Marten Transport, Ltd. has a 1-year low of $15.33 and a 1-year high of $23.38.

Marten Transport (NASDAQ:MRTN) last posted its earnings results on Thursday, April 18th. The transportation company reported $0.12 EPS for the quarter, meeting analysts’ consensus estimates of $0.12. Marten Transport had a return on equity of 7.65% and a net margin of 5.31%. The firm had revenue of $249.67 million for the quarter, compared to analysts’ expectations of $262.77 million. During the same period last year, the firm earned $0.28 EPS. The company’s quarterly revenue was down 16.2% on a year-over-year basis. On average, equities analysts anticipate that Marten Transport, Ltd. will post 0.66 EPS for the current year.

Marten Transport Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Friday, June 14th. Marten Transport’s dividend payout ratio is presently 33.80%.

Insider Activity at Marten Transport

In related news, President Douglas Paul Petit sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $18.22, for a total value of $81,990.00. Following the transaction, the president now directly owns 31,600 shares of the company’s stock, valued at approximately $575,752. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 22.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Raymond James initiated coverage on Marten Transport in a research report on Wednesday, May 15th. They issued an “outperform” rating and a $20.00 target price on the stock. Stephens cut their price target on Marten Transport from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Friday, April 19th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $22.00.

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.