Confluence Investment Management LLC Has $2.42 Million Stake in Marten Transport, Ltd. (NASDAQ:MRTN)

Confluence Investment Management LLC lifted its stake in Marten Transport, Ltd. (NASDAQ:MRTN) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 154,916 shares of the transportation company’s stock after purchasing an additional 754 shares during the period. Confluence Investment Management LLC owned 0.19% of Marten Transport worth $2,418,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Rhumbline Advisers increased its stake in shares of Marten Transport by 0.5% in the 2nd quarter. Rhumbline Advisers now owns 222,269 shares of the transportation company’s stock valued at $4,101,000 after buying an additional 1,162 shares during the period. KBC Group NV increased its position in Marten Transport by 54.6% in the third quarter. KBC Group NV now owns 3,376 shares of the transportation company’s stock worth $60,000 after purchasing an additional 1,192 shares during the period. Nisa Investment Advisors LLC raised its holdings in Marten Transport by 24.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 6,587 shares of the transportation company’s stock worth $117,000 after purchasing an additional 1,289 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Marten Transport during the 2nd quarter valued at about $28,000. Finally, Truist Financial Corp boosted its stake in shares of Marten Transport by 10.4% in the 2nd quarter. Truist Financial Corp now owns 16,189 shares of the transportation company’s stock valued at $299,000 after purchasing an additional 1,522 shares during the last quarter. Institutional investors own 69.12% of the company’s stock.

Insiders Place Their Bets

In related news, Director Jerry M. Bauer purchased 10,000 shares of Marten Transport stock in a transaction dated Wednesday, October 30th. The stock was bought at an average price of $15.81 per share, for a total transaction of $158,100.00. Following the completion of the acquisition, the director now directly owns 156,444 shares of the company’s stock, valued at $2,473,379.64. This represents a 6.83 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 22.90% of the company’s stock.

Marten Transport Price Performance

Shares of NASDAQ:MRTN opened at $15.41 on Friday. The firm’s 50 day simple moving average is $16.65 and its 200 day simple moving average is $17.13. Marten Transport, Ltd. has a fifty-two week low of $15.33 and a fifty-two week high of $20.96. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 36.69 and a beta of 0.82.

Marten Transport (NASDAQ:MRTN) last posted its 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). Marten Transport had a return on equity of 4.41% and a net margin of 3.36%. The firm had revenue of $237.37 million during the quarter, compared to analyst estimates of $244.00 million. Equities research analysts expect that Marten Transport, Ltd. will post 0.32 earnings per share for the current year.

Marten Transport Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a $0.06 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.24 dividend on an annualized basis and a yield of 1.56%. Marten Transport’s payout ratio is 57.14%.

Analyst Ratings Changes

MRTN has been the subject of a number of recent research reports. Raymond James downgraded shares of Marten Transport from an “outperform” rating to a “market perform” rating in a research note on Monday, October 14th. StockNews.com downgraded Marten Transport from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd.

About Marten Transport

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.