BNP Paribas Financial Markets increased its stake in Marten Transport, Ltd. (NASDAQ:MRTN - Free Report) by 120.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 138,508 shares of the transportation company's stock after purchasing an additional 75,721 shares during the quarter. BNP Paribas Financial Markets owned 0.17% of Marten Transport worth $2,452,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the company. FMR LLC increased its stake in shares of Marten Transport by 5.8% in the 3rd quarter. FMR LLC now owns 217,232 shares of the transportation company's stock worth $3,845,000 after purchasing an additional 11,883 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Marten Transport by 4.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 940,431 shares of the transportation company's stock worth $16,646,000 after buying an additional 38,990 shares during the period. Intech Investment Management LLC purchased a new stake in Marten Transport in the 3rd quarter worth $181,000. Nuance Investments LLC lifted its position in shares of Marten Transport by 13.0% in the third quarter. Nuance Investments LLC now owns 2,627,111 shares of the transportation company's stock valued at $46,500,000 after acquiring an additional 303,132 shares in the last quarter. Finally, KBC Group NV raised its stake in Marten Transport by 54.6% during the 3rd quarter. KBC Group NV now owns 3,376 shares of the transportation company's stock valued at $60,000 after purchasing an additional 1,192 shares during the period. Institutional investors own 69.12% of the company's stock.
Marten Transport Stock Down 0.5 %
Shares of NASDAQ MRTN traded down $0.08 during mid-day trading on Friday, reaching $16.93. 221,061 shares of the company were exchanged, compared to its average volume of 353,206. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 40.31 and a beta of 0.82. The firm has a 50-day moving average of $16.80 and a 200 day moving average of $17.33. Marten Transport, Ltd. has a 1 year low of $15.33 and a 1 year high of $21.38.
Marten Transport (NASDAQ:MRTN - Get Free Report) last issued its quarterly earnings results on Thursday, October 17th. The transportation company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.02). The business had revenue of $237.37 million during the quarter, compared to analyst estimates of $244.00 million. Marten Transport had a return on equity of 4.41% and a net margin of 3.36%. On average, equities analysts forecast that Marten Transport, Ltd. will post 0.32 earnings per share for the current year.
Marten Transport Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a $0.06 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.24 dividend on an annualized basis and a yield of 1.42%. Marten Transport's dividend payout ratio is currently 57.14%.
Wall Street Analyst Weigh In
Several research firms recently weighed in on MRTN. StockNews.com cut 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 report on Monday, October 14th.
View Our Latest Stock Analysis on MRTN
Insider Buying and Selling
In other news, Director Jerry M. Bauer acquired 10,000 shares of the business's stock in a transaction on Wednesday, October 30th. The stock was bought at an average price of $15.81 per share, with a total value of $158,100.00. Following the completion of the acquisition, the director now owns 156,444 shares of the company's stock, valued at approximately $2,473,379.64. This represents a 6.83 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 22.90% of the stock is owned by corporate insiders.
Marten Transport Company Profile
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Free Report)
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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