Marten Transport, Ltd. (NASDAQ:MRTN) Position Reduced by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its position in Marten Transport, Ltd. (NASDAQ:MRTN) by 21.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 381,341 shares of the transportation company’s stock after selling 105,426 shares during the period. Allspring Global Investments Holdings LLC owned about 0.47% of Marten Transport worth $8,001,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in MRTN. Lazard Asset Management LLC purchased a new position in Marten Transport during the 1st quarter worth approximately $47,000. Quantbot Technologies LP purchased a new stake in shares of Marten Transport during the third quarter worth $54,000. International Assets Investment Management LLC lifted its holdings in shares of Marten Transport by 1,997.7% during the 4th quarter. International Assets Investment Management LLC now owns 2,706 shares of the transportation company’s stock valued at $57,000 after buying an additional 2,577 shares during the last quarter. Captrust Financial Advisors lifted its stake in Marten Transport by 108.6% in the first quarter. Captrust Financial Advisors now owns 3,790 shares of the transportation company’s stock valued at $67,000 after acquiring an additional 1,973 shares during the last quarter. Finally, Point72 Middle East FZE bought a new stake in Marten Transport in the fourth quarter worth approximately $71,000. Institutional investors and hedge funds own 69.12% of the company’s stock.

Marten Transport Stock Performance

MRTN opened at $16.17 on Thursday. The firm has a market cap of $1.32 billion, a P/E ratio of 18.59 and a beta of 0.79. The business has a 50 day moving average price of $18.51 and a 200 day moving average price of $19.03. Marten Transport, Ltd. has a twelve month low of $16.15 and a twelve month high of $23.38.

Marten Transport (NASDAQ:MRTN) last issued its quarterly earnings data on Thursday, January 25th. The transportation company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The firm had revenue of $268.20 million during the quarter, compared to analyst estimates of $271.62 million. Marten Transport had a return on equity of 9.48% and a net margin of 6.22%. Marten Transport’s quarterly revenue was down 16.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.31 earnings per share.

Marten Transport Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date was Thursday, March 14th. Marten Transport’s dividend payout ratio (DPR) is 27.59%.

Wall Street Analysts Forecast Growth

Separately, Vertical Research upgraded shares of Marten Transport from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Wednesday, January 10th.

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.