Confluence Investment Management LLC Reduces Stock Position in Marten Transport, Ltd. $MRTN

Confluence Investment Management LLC lessened its stake in Marten Transport, Ltd. (NASDAQ:MRTN) by 36.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 86,457 shares of the transportation company’s stock after selling 49,928 shares during the period. Confluence Investment Management LLC’s holdings in Marten Transport were worth $984,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Elevation Point Wealth Partners LLC purchased a new position in Marten Transport during the second quarter worth approximately $39,000. CIBC Private Wealth Group LLC purchased a new stake in Marten Transport in the 3rd quarter valued at $40,000. Atlantic Union Bankshares Corp acquired a new stake in shares of Marten Transport in the 3rd quarter worth $43,000. PNC Financial Services Group Inc. increased its stake in shares of Marten Transport by 131.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,816 shares of the transportation company’s stock worth $62,000 after acquiring an additional 3,302 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Marten Transport by 378.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,610 shares of the transportation company’s stock worth $73,000 after acquiring an additional 4,438 shares during the period. Hedge funds and other institutional investors own 69.12% of the company’s stock.

Marten Transport Trading Up 0.7%

MRTN stock opened at $12.18 on Friday. The company has a market capitalization of $993.77 million, a PE ratio of 55.37 and a beta of 0.84. Marten Transport, Ltd. has a 12-month low of $9.35 and a 12-month high of $15.42. The business’s fifty day moving average price is $12.87 and its 200 day moving average price is $11.58.

Marten Transport (NASDAQ:MRTN) last announced its earnings results on Tuesday, January 27th. The transportation company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. The company had revenue of $210.11 million during the quarter, compared to analysts’ expectations of $207.22 million. Marten Transport had a return on equity of 2.27% and a net margin of 1.97%.Marten Transport’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same period last year, the business posted $0.07 EPS. Research analysts predict 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 will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, March 17th. Marten Transport’s dividend payout ratio is currently 109.09%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MRTN shares. Wall Street Zen raised shares of Marten Transport from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Zacks Research raised shares of Marten Transport from a “strong sell” rating to a “hold” rating in a research note on Friday, March 13th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Marten Transport in a report on Monday, December 29th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce”.

Marten Transport Company Profile

Marten Transport, Inc is a North American transportation services provider offering temperature-controlled and dry van truckload services. Founded in 1946 and headquartered in Mondovi, Wisconsin, the company specializes in full truckload, dedicated contract carriage, intermodal and port drayage solutions. Its core focus on refrigerated and produce freight has made it a key partner for food manufacturers, retailers and other shippers requiring strict temperature management.

The company maintains a modern fleet of tractors and trailers equipped with advanced telematics, electronic logging devices and continuous temperature monitoring.