Marten Transport, Ltd (MRTN) Declares $0.03 Quarterly Dividend
Marten Transport, Ltd (NASDAQ:MRTN) announced a quarterly dividend on Thursday, December 6th, NASDAQ reports. Stockholders of record on Tuesday, December 18th will be given a dividend of 0.025 per share by the transportation company on Friday, December 28th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Monday, December 17th.
Marten Transport has raised its dividend payment by an average of 10.1% per year over the last three years. Marten Transport has a dividend payout ratio of 10.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Marten Transport to earn $1.17 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 8.5%.
Marten Transport stock opened at $18.02 on Friday. Marten Transport has a 52-week low of $17.13 and a 52-week high of $29.60. The firm has a market cap of $969.98 million, a PE ratio of 29.06 and a beta of 1.37.
Several brokerages have recently weighed in on MRTN. BidaskClub raised shares of Marten Transport from a “sell” rating to a “hold” rating in a research report on Friday, September 14th. Zacks Investment Research cut shares of Marten Transport from a “buy” rating to a “hold” rating in a research report on Wednesday, September 19th. Stifel Nicolaus raised shares of Marten Transport from a “sell” rating to a “hold” rating and set a $21.00 price target on the stock in a research report on Wednesday, August 29th. They noted that the move was a valuation call. ValuEngine cut shares of Marten Transport from a “buy” rating to a “hold” rating in a research report on Saturday, September 22nd. Finally, Stephens set a $22.00 price target on shares of Marten Transport and gave the company a “hold” rating in a research report on Wednesday, October 17th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $23.75.
Marten Transport Company Profile
Marten Transport, Ltd. operates as a temperature-sensitive truckload carrier for shippers in the United States, Canada, and Mexico. It 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.
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