Canvas Wealth Advisors LLC Has $745,000 Stock Position in Marten Transport, Ltd. $MRTN

Canvas Wealth Advisors LLC reduced its stake in Marten Transport, Ltd. (NASDAQ:MRTN) by 7.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 57,885 shares of the transportation company’s stock after selling 4,611 shares during the quarter. Canvas Wealth Advisors LLC’s holdings in Marten Transport were worth $745,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Parallel Advisors LLC raised its position in shares of Marten Transport by 410.4% during the second quarter. Parallel Advisors LLC now owns 4,634 shares of the transportation company’s stock worth $60,000 after purchasing an additional 3,726 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Marten Transport by 44.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,428 shares of the transportation company’s stock valued at $102,000 after buying an additional 2,291 shares during the last quarter. CWM LLC lifted its holdings in Marten Transport by 148.3% during the 2nd quarter. CWM LLC now owns 7,548 shares of the transportation company’s stock worth $98,000 after purchasing an additional 4,508 shares in the last quarter. Caxton Associates LLP purchased a new stake in Marten Transport during the 1st quarter worth about $158,000. Finally, GAMMA Investing LLC raised its holdings in shares of Marten Transport by 8,296.7% in the 1st quarter. GAMMA Investing LLC now owns 12,595 shares of the transportation company’s stock valued at $173,000 after acquiring an additional 12,445 shares in the last quarter. 69.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MRTN. Wall Street Zen cut shares of Marten Transport from a “hold” rating to a “sell” rating in a research report on Saturday, August 30th. Weiss Ratings reissued a “sell (d+)” rating on shares of Marten Transport in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $19.00.

Marten Transport Trading Down 0.4%

Shares of NASDAQ:MRTN opened at $10.81 on Monday. Marten Transport, Ltd. has a 12-month low of $10.35 and a 12-month high of $18.63. The stock has a fifty day simple moving average of $11.35 and a two-hundred day simple moving average of $12.47. The stock has a market capitalization of $881.23 million, a price-to-earnings ratio of 41.58 and a beta of 0.95.

Marten Transport Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were paid a $0.06 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $0.24 annualized dividend and a dividend yield of 2.2%. Marten Transport’s payout ratio is currently 92.31%.

Marten Transport 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.