Nisa Investment Advisors LLC Lowers Holdings in Marten Transport, Ltd. (NASDAQ:MRTN)

Nisa Investment Advisors LLC reduced its position in Marten Transport, Ltd. (NASDAQ:MRTN) by 35.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,298 shares of the transportation company’s stock after selling 2,858 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Marten Transport were worth $98,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James & Associates raised its position in shares of Marten Transport by 80.5% in the 2nd quarter. Raymond James & Associates now owns 182,165 shares of the transportation company’s stock worth $3,361,000 after acquiring an additional 81,219 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Marten Transport during the 2nd quarter worth approximately $1,172,000. CWM LLC lifted its position in Marten Transport by 88.8% during the second quarter. CWM LLC now owns 3,319 shares of the transportation company’s stock valued at $61,000 after acquiring an additional 1,561 shares during the last quarter. First Hawaiian Bank boosted its position in shares of Marten Transport by 35.1% in the 2nd quarter. First Hawaiian Bank now owns 21,214 shares of the transportation company’s stock worth $391,000 after purchasing an additional 5,507 shares in the last quarter. Finally, SG Capital Management LLC acquired a new stake in Marten Transport in the first quarter worth about $2,058,000. 69.12% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Marten Transport news, COO Adam Daniel Phillips sold 4,500 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $18.34, for a total transaction of $82,530.00. Following the transaction, the chief operating officer now owns 7,448 shares in the company, valued at $136,596.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 22.90% of the stock is currently owned by insiders.

Marten Transport Trading Up 2.4 %

Shares of NASDAQ:MRTN opened at $17.63 on Monday. Marten Transport, Ltd. has a twelve month low of $15.33 and a twelve month high of $21.63. The company’s 50 day moving average is $17.72 and its 200 day moving average is $17.93. The company has a market cap of $1.43 billion, a PE ratio of 24.83 and a beta of 0.77.

Marten Transport (NASDAQ:MRTN) last released its quarterly earnings data on Thursday, July 18th. The transportation company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). The business had revenue of $246.24 million during the quarter, compared to analyst estimates of $249.11 million. Marten Transport had a return on equity of 5.74% and a net margin of 4.17%. The firm’s revenue was down 13.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.27 EPS. Equities research analysts predict that Marten Transport, Ltd. will post 0.55 earnings per share for the current fiscal year.

Marten Transport Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.06 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.24 annualized dividend and a yield of 1.36%. Marten Transport’s dividend payout ratio is presently 33.80%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Vertical Research lowered 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 research note on Tuesday, July 9th. Raymond James began coverage on Marten Transport in a research report on Wednesday, May 15th. They issued an “outperform” rating and a $20.00 target price on the stock. Finally, StockNews.com upgraded Marten Transport from a “sell” rating to a “hold” rating in a research note on Tuesday, August 13th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

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.