London Co. of Virginia Has $12.64 Million Stock Position in Marten Transport, Ltd. $MRTN

London Co. of Virginia increased its stake in shares of Marten Transport, Ltd. (NASDAQ:MRTN) by 11.1% during the second quarter, HoldingsChannel reports. The fund owned 972,954 shares of the transportation company’s stock after acquiring an additional 96,883 shares during the quarter. London Co. of Virginia’s holdings in Marten Transport were worth $12,639,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of MRTN. Creative Planning raised its position in shares of Marten Transport by 74.9% during the second quarter. Creative Planning now owns 108,788 shares of the transportation company’s stock valued at $1,413,000 after buying an additional 46,574 shares during the last quarter. Nuance Investments LLC increased its stake in Marten Transport by 9.7% during the second quarter. Nuance Investments LLC now owns 5,745,928 shares of the transportation company’s stock valued at $74,640,000 after acquiring an additional 508,486 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Marten Transport in the 2nd quarter valued at approximately $945,000. Public Sector Pension Investment Board lifted its position in shares of Marten Transport by 27.3% in the 1st quarter. Public Sector Pension Investment Board now owns 183,399 shares of the transportation company’s stock worth $2,516,000 after acquiring an additional 39,300 shares during the period. Finally, Allianz Asset Management GmbH acquired a new stake in shares of Marten Transport during the 2nd quarter worth approximately $613,000. 69.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on MRTN. Wall Street Zen downgraded Marten Transport from a “hold” rating to a “sell” rating in a report on Saturday, August 30th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Marten Transport in a research note on Monday. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $19.00.

Marten Transport Trading Up 0.3%

NASDAQ:MRTN opened at $11.83 on Friday. The stock has a market capitalization of $964.38 million, a P/E ratio of 49.29 and a beta of 0.88. Marten Transport, Ltd. has a 1 year low of $9.35 and a 1 year high of $17.27. The firm has a 50 day moving average of $10.38 and a 200-day moving average of $11.67.

Marten Transport (NASDAQ:MRTN) last released its quarterly earnings results on Thursday, October 23rd. The transportation company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Marten Transport had a return on equity of 2.52% and a net margin of 2.14%.The business had revenue of $194.00 million for the quarter, compared to the consensus estimate of $230.38 million. During the same quarter last year, the company earned $0.05 earnings per share. The firm’s revenue was down 7.1% on a year-over-year basis. As a group, analysts forecast that Marten Transport, Ltd. will post 0.41 EPS for the current fiscal year.

Marten Transport Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 29th. Stockholders of record on Monday, December 15th will be paid a $0.06 dividend. The ex-dividend date is Monday, December 15th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.0%. Marten Transport’s dividend payout ratio (DPR) is 100.00%.

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.