PNC Financial Services Group Inc. Acquires 2,291 Shares of Marten Transport, Ltd. $MRTN

PNC Financial Services Group Inc. lifted its position in Marten Transport, Ltd. (NASDAQ:MRTN) by 44.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,428 shares of the transportation company’s stock after purchasing an additional 2,291 shares during the period. PNC Financial Services Group Inc.’s holdings in Marten Transport were worth $102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Johnson Financial Group Inc. purchased a new stake in shares of Marten Transport in the fourth quarter worth $48,000. GAMMA Investing LLC increased its stake in shares of Marten Transport by 8,296.7% in the first quarter. GAMMA Investing LLC now owns 12,595 shares of the transportation company’s stock worth $173,000 after purchasing an additional 12,445 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Marten Transport in the fourth quarter worth $218,000. Brevan Howard Capital Management LP purchased a new stake in shares of Marten Transport in the fourth quarter worth $222,000. Finally, Wealthedge Investment Advisors LLC purchased a new stake in shares of Marten Transport in the fourth quarter worth $266,000. 69.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of Marten Transport from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Marten Transport Stock Up 3.0%

Shares of NASDAQ:MRTN opened at $12.18 on Wednesday. The firm has a fifty day simple moving average of $12.82 and a two-hundred day simple moving average of $13.42. The stock has a market capitalization of $992.91 million, a P/E ratio of 46.85 and a beta of 0.98. Marten Transport, Ltd. has a 52 week low of $11.57 and a 52 week high of $18.63.

Marten Transport (NASDAQ:MRTN) last released its earnings results on Wednesday, July 16th. The transportation company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. The firm had revenue of $229.92 million during the quarter, compared to analyst estimates of $231.09 million. Marten Transport had a net margin of 2.27% and a return on equity of 2.72%. The business’s revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the business earned $0.10 EPS. On average, analysts expect that Marten Transport, Ltd. will post 0.41 earnings per share for the current year.

Marten Transport Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a dividend of $0.06 per share. The ex-dividend date is Tuesday, September 16th. This represents a $0.24 dividend on an annualized basis and a yield of 2.0%. Marten Transport’s dividend payout ratio (DPR) is presently 92.31%.

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.