Corebridge Financial Inc. Has $483,000 Stock Holdings in Marten Transport, Ltd. (NASDAQ:MRTN)

Corebridge Financial Inc. trimmed its stake in shares of Marten Transport, Ltd. (NASDAQ:MRTN) by 7.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,914 shares of the transportation company’s stock after selling 2,412 shares during the quarter. Corebridge Financial Inc.’s holdings in Marten Transport were worth $483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Confluence Investment Management LLC raised its holdings in Marten Transport by 0.5% during the 4th quarter. Confluence Investment Management LLC now owns 154,916 shares of the transportation company’s stock worth $2,418,000 after purchasing an additional 754 shares during the last quarter. Keybank National Association OH raised its stake in Marten Transport by 5.5% during the fourth quarter. Keybank National Association OH now owns 24,006 shares of the transportation company’s stock worth $375,000 after buying an additional 1,258 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Marten Transport by 5.2% in the third quarter. Franklin Resources Inc. now owns 31,148 shares of the transportation company’s stock valued at $521,000 after buying an additional 1,526 shares during the period. Y Intercept Hong Kong Ltd boosted its position in Marten Transport by 11.4% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 18,760 shares of the transportation company’s stock valued at $293,000 after acquiring an additional 1,916 shares during the last quarter. Finally, LPL Financial LLC grew its holdings in Marten Transport by 7.3% during the 4th quarter. LPL Financial LLC now owns 33,447 shares of the transportation company’s stock worth $522,000 after acquiring an additional 2,267 shares during the period. 69.12% of the stock is owned by institutional investors and hedge funds.

Marten Transport Stock Down 1.6 %

Marten Transport stock opened at $12.69 on Wednesday. The company has a market capitalization of $1.03 billion, a PE ratio of 37.32 and a beta of 1.01. Marten Transport, Ltd. has a 12-month low of $12.56 and a 12-month high of $19.26. The firm’s fifty day moving average is $14.32 and its 200 day moving average is $15.75.

Marten Transport (NASDAQ:MRTN) last released its quarterly earnings data on Monday, January 27th. The transportation company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. Marten Transport had a net margin of 2.79% and a return on equity of 3.52%. Sell-side analysts expect that Marten Transport, Ltd. will post 0.41 EPS for the current fiscal year.

Marten Transport Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, March 14th. This represents a $0.24 annualized dividend and a dividend yield of 1.89%. Marten Transport’s dividend payout ratio is 70.59%.

Wall Street Analyst Weigh In

Separately, Stephens boosted their price objective on Marten Transport from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th.

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.