Envestnet Asset Management Inc. Has $2.31 Million Holdings in Marten Transport, Ltd. (NASDAQ:MRTN)

Envestnet Asset Management Inc. grew its holdings in shares of Marten Transport, Ltd. (NASDAQ:MRTN) by 11.3% during the second quarter, HoldingsChannel.com reports. The firm owned 125,443 shares of the transportation company’s stock after acquiring an additional 12,696 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Marten Transport were worth $2,314,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Nuance Investments LLC boosted its position in shares of Marten Transport by 78.0% during the 2nd quarter. Nuance Investments LLC now owns 2,323,979 shares of the transportation company’s stock worth $42,877,000 after acquiring an additional 1,018,673 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Marten Transport by 13.1% during the 2nd quarter. American Century Companies Inc. now owns 1,402,776 shares of the transportation company’s stock worth $25,881,000 after acquiring an additional 162,924 shares in the last quarter. Van Hulzen Asset Management LLC boosted its position in shares of Marten Transport by 106.1% during the 2nd quarter. Van Hulzen Asset Management LLC now owns 100,147 shares of the transportation company’s stock worth $1,848,000 after acquiring an additional 51,563 shares in the last quarter. Quest Partners LLC boosted its position in shares of Marten Transport by 1,562.2% during the 2nd quarter. Quest Partners LLC now owns 65,741 shares of the transportation company’s stock worth $1,213,000 after acquiring an additional 61,786 shares in the last quarter. Finally, Hodges Capital Management Inc. acquired a new stake in shares of Marten Transport during the 2nd quarter worth approximately $2,124,000. Institutional investors and hedge funds own 69.12% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MRTN shares. Vertical Research lowered shares of Marten Transport from a “buy” rating to a “hold” rating and reduced their price target for the stock from $22.00 to $19.00 in a research report on Tuesday, July 9th. StockNews.com lowered shares of Marten Transport from a “hold” rating to a “sell” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $20.00.

Insider Activity

In other news, COO Adam Daniel Phillips sold 4,500 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $18.34, for a total transaction of $82,530.00. Following the completion of the transaction, the chief operating officer now owns 7,448 shares of the company’s stock, valued at approximately $136,596.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 22.90% of the company’s stock.

Marten Transport Price Performance

Shares of Marten Transport stock opened at $16.74 on Friday. Marten Transport, Ltd. has a fifty-two week low of $15.33 and a fifty-two week high of $21.38. The firm has a market capitalization of $1.36 billion, a P/E ratio of 23.63 and a beta of 0.77. The company’s 50 day moving average price is $17.43 and its two-hundred day moving average price is $17.58.

Marten Transport (NASDAQ:MRTN) last issued its earnings results 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). Marten Transport had a net margin of 4.17% and a return on equity of 5.74%. The company had revenue of $246.24 million during the quarter, compared to analyst estimates of $249.11 million. During the same quarter in the prior year, the business earned $0.27 EPS. The business’s quarterly revenue was down 13.8% on a year-over-year basis. On average, analysts expect that Marten Transport, Ltd. will post 0.46 earnings per share for the current year.

Marten Transport Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Monday, September 16th. Marten Transport’s payout ratio is currently 33.80%.

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.