American International Group Inc. boosted its holdings in Marten Transport, Ltd. (NASDAQ:MRTN) by 76.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 30,833 shares of the transportation company’s stock after acquiring an additional 13,341 shares during the quarter. American International Group Inc. owned 0.06% of Marten Transport worth $634,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Royce & Associates LP lifted its position in shares of Marten Transport by 20.5% during the 2nd quarter. Royce & Associates LP now owns 153,125 shares of the transportation company’s stock worth $4,196,000 after buying an additional 26,100 shares in the last quarter. Shell Asset Management Co. lifted its position in shares of Marten Transport by 34.3% during the 3rd quarter. Shell Asset Management Co. now owns 45,292 shares of the transportation company’s stock worth $807,000 after buying an additional 11,579 shares in the last quarter. Granite Investment Partners LLC lifted its position in shares of Marten Transport by 6.3% during the 3rd quarter. Granite Investment Partners LLC now owns 845,925 shares of the transportation company’s stock worth $17,384,000 after buying an additional 50,003 shares in the last quarter. State Street Corp lifted its position in shares of Marten Transport by 1.4% during the 2nd quarter. State Street Corp now owns 627,806 shares of the transportation company’s stock worth $17,201,000 after buying an additional 8,954 shares in the last quarter. Finally, Pier Capital LLC bought a new position in shares of Marten Transport during the 2nd quarter worth approximately $6,565,000. 68.40% of the stock is currently owned by institutional investors and hedge funds.
Marten Transport, Ltd. (MRTN) opened at $20.40 on Friday. Marten Transport, Ltd. has a 1 year low of $12.81 and a 1 year high of $21.15. The company has a market cap of $1,110.00, a P/E ratio of 33.44 and a beta of 1.34.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 22nd will be paid a dividend of $0.025 per share. The ex-dividend date is Thursday, December 21st. This represents a $0.10 annualized dividend and a dividend yield of 0.49%. Marten Transport’s payout ratio is currently 16.39%.
Several equities analysts have commented on MRTN shares. Zacks Investment Research raised shares of Marten Transport from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Thursday, September 7th. Stifel Nicolaus reissued a “hold” rating and set a $15.00 target price on shares of Marten Transport in a research report on Sunday, October 1st. Finally, BidaskClub cut shares of Marten Transport from a “hold” rating to a “sell” rating in a research report on Friday, August 25th.
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About Marten Transport
Marten Transport, Ltd. is a temperature-sensitive truckload carrier. The Company focuses on transporting and distributing food and other consumer-packaged goods that require a temperature-controlled or insulated environment. The Company operates through four segments: Truckload, Dedicated, Intermodal and Brokerage.
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