JPMorgan Chase & Co. Purchases 189,996 Shares of Marten Transport, Ltd. (NASDAQ:MRTN)

JPMorgan Chase & Co. raised its holdings in shares of Marten Transport, Ltd. (NASDAQ:MRTN) by 27.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 875,304 shares of the transportation company’s stock after purchasing an additional 189,996 shares during the quarter. JPMorgan Chase & Co.’s holdings in Marten Transport were worth $13,663,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Independence Bank of Kentucky purchased a new stake in shares of Marten Transport during the 4th quarter valued at approximately $40,000. Quantbot Technologies LP bought a new stake in Marten Transport during the 4th quarter valued at $100,000. Ieq Capital LLC purchased a new stake in shares of Marten Transport during the fourth quarter worth $172,000. KLP Kapitalforvaltning AS bought a new position in shares of Marten Transport in the fourth quarter worth $181,000. Finally, Verition Fund Management LLC purchased a new position in shares of Marten Transport in the third quarter valued at $216,000. Institutional investors own 69.12% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Stephens increased their price target on shares of Marten Transport from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th.

Marten Transport Stock Up 0.3 %

NASDAQ MRTN opened at $13.37 on Friday. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 39.32 and a beta of 1.01. The company has a 50-day simple moving average of $14.16 and a two-hundred day simple moving average of $15.65. Marten Transport, Ltd. has a 12-month low of $12.52 and a 12-month high of $19.26.

Marten Transport (NASDAQ:MRTN) last posted its quarterly earnings results on Monday, January 27th. The transportation company reported $0.07 EPS for the quarter, beating 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%. Equities analysts expect that Marten Transport, Ltd. will post 0.41 earnings per share for the current fiscal year.

Marten Transport Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.24 annualized dividend and a dividend yield of 1.80%. Marten Transport’s dividend payout ratio is 70.59%.

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.