Raymond James Financial Inc. Makes New $878,000 Investment in Marten Transport, Ltd. (NASDAQ:MRTN)

Raymond James Financial Inc. bought a new position in shares of Marten Transport, Ltd. (NASDAQ:MRTN - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 56,215 shares of the transportation company's stock, valued at approximately $878,000. Raymond James Financial Inc. owned approximately 0.07% of Marten Transport at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. US Bancorp DE lifted its holdings in Marten Transport by 3,788.8% during the 4th quarter. US Bancorp DE now owns 263,425 shares of the transportation company's stock worth $4,112,000 after buying an additional 256,651 shares in the last quarter. Hodges Capital Management Inc. lifted its stake in shares of Marten Transport by 158.0% during the fourth quarter. Hodges Capital Management Inc. now owns 303,200 shares of the transportation company's stock valued at $4,732,000 after acquiring an additional 185,700 shares during the period. JPMorgan Chase & Co. boosted its holdings in Marten Transport by 22.6% in the third quarter. JPMorgan Chase & Co. now owns 685,308 shares of the transportation company's stock valued at $12,130,000 after acquiring an additional 126,150 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Marten Transport by 8.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,024,117 shares of the transportation company's stock worth $15,986,000 after purchasing an additional 83,686 shares during the period. Finally, Barclays PLC raised its holdings in Marten Transport by 140.3% during the 3rd quarter. Barclays PLC now owns 136,498 shares of the transportation company's stock worth $2,416,000 after purchasing an additional 79,689 shares during the last quarter. 69.12% of the stock is owned by institutional investors.

Marten Transport Stock Up 6.1 %

Marten Transport stock traded up $0.77 during midday trading on Wednesday, hitting $13.46. 546,643 shares of the stock were exchanged, compared to its average volume of 399,668. The stock has a market capitalization of $1.10 billion, a PE ratio of 39.59 and a beta of 1.01. The company has a fifty day simple moving average of $14.24 and a two-hundred day simple moving average of $15.70. Marten Transport, Ltd. has a 52 week low of $12.56 and a 52 week high of $19.26.

Marten Transport (NASDAQ:MRTN - Get Free Report) last announced its quarterly earnings results on Monday, January 27th. The transportation company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. Marten Transport had a net margin of 2.79% and a return on equity of 3.52%. As a group, equities research analysts anticipate that Marten Transport, Ltd. will post 0.41 EPS for the current fiscal year.

Marten Transport Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend was Friday, March 14th. Marten Transport's dividend payout ratio is currently 70.59%.

Analyst Ratings Changes

Separately, Stephens increased their price objective on shares of Marten Transport from $18.00 to $19.00 and gave the company an "overweight" rating in a report on Tuesday, January 28th.

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.