Hodges Capital Management Inc. Makes New $2.12 Million Investment in Marten Transport, Ltd. (NASDAQ:MRTN)

Hodges Capital Management Inc. acquired a new stake in Marten Transport, Ltd. (NASDAQ:MRTN - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 115,100 shares of the transportation company's stock, valued at approximately $2,124,000. Hodges Capital Management Inc. owned 0.14% of Marten Transport at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Confluence Investment Management LLC bought a new position in shares of Marten Transport during the 1st quarter worth $2,988,000. Empirical Capital Management LLC purchased a new stake in shares of Marten Transport during the fourth quarter worth $9,997,000. SG Capital Management LLC bought a new position in shares of Marten Transport in the first quarter worth $2,058,000. Vanguard Group Inc. grew its position in shares of Marten Transport by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 4,338,538 shares of the transportation company's stock valued at $91,023,000 after purchasing an additional 132,407 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Marten Transport during the 2nd quarter valued at $1,172,000. 69.12% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Marten Transport

In other news, President Douglas Paul Petit sold 4,500 shares of the business's stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $18.22, for a total value of $81,990.00. Following the completion of the sale, the president now directly owns 31,600 shares in the company, valued at approximately $575,752. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 22.90% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. StockNews.com raised Marten Transport from a "sell" rating to a "hold" rating in a report on Tuesday, August 13th. Raymond James began coverage on shares of Marten Transport in a report on Wednesday, May 15th. They set an "outperform" rating and a $20.00 target price on the stock. Finally, Vertical Research downgraded shares of Marten Transport from a "buy" rating to a "hold" rating and cut their price target for the company from $22.00 to $19.00 in a report on Tuesday, July 9th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $20.00.

Marten Transport Stock Down 1.2 %

Shares of MRTN stock traded down $0.20 during trading on Thursday, hitting $17.12. The company had a trading volume of 240,661 shares, compared to its average volume of 423,300. The stock's 50-day moving average is $17.65 and its two-hundred day moving average is $17.81. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 24.11 and a beta of 0.77. Marten Transport, Ltd. has a 52 week low of $15.33 and a 52 week high of $21.38.

Marten Transport (NASDAQ:MRTN - Get Free Report) last issued its quarterly earnings results on Thursday, July 18th. The transportation company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.11 by ($0.01). Marten Transport had a return on equity of 5.74% and a net margin of 4.17%. The company had revenue of $246.24 million during the quarter, compared to the consensus estimate of $249.11 million. During the same period in the previous year, the company earned $0.27 EPS. Marten Transport's quarterly revenue was down 13.8% on a year-over-year basis. On average, research analysts predict that Marten Transport, Ltd. will post 0.46 EPS for the current fiscal year.

Marten Transport Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.40%. The ex-dividend date is Monday, September 16th. Marten Transport's dividend payout ratio (DPR) is currently 33.80%.

Marten Transport 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.