Marten Transport (NASDAQ:MRTN) Releases Quarterly Earnings Results, Hits Expectations

Marten Transport (NASDAQ:MRTN) issued its earnings results on Wednesday. The transportation company reported $0.12 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.12, Yahoo Finance reports. The business had revenue of $249.67 million during the quarter, compared to analysts’ expectations of $262.77 million. Marten Transport had a return on equity of 9.48% and a net margin of 6.22%. Marten Transport’s quarterly revenue was down 16.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.28 EPS.

Marten Transport Price Performance

Shares of NASDAQ:MRTN traded down $0.20 during midday trading on Thursday, reaching $15.97. The company’s stock had a trading volume of 774,130 shares, compared to its average volume of 461,460. The business’s fifty day simple moving average is $18.51 and its 200-day simple moving average is $19.03. Marten Transport has a fifty-two week low of $15.87 and a fifty-two week high of $23.38. The company has a market capitalization of $1.30 billion, a P/E ratio of 18.59 and a beta of 0.79.

Marten Transport Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend was Thursday, March 14th. Marten Transport’s dividend payout ratio is currently 27.59%.

Wall Street Analysts Forecast Growth

Separately, Vertical Research raised Marten Transport from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Wednesday, January 10th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Stifel Financial Corp raised its stake in shares of Marten Transport by 8.9% in the fourth quarter. Stifel Financial Corp now owns 12,565 shares of the transportation company’s stock worth $264,000 after acquiring an additional 1,025 shares during the last quarter. Gotham Asset Management LLC acquired a new position in Marten Transport during the 1st quarter worth $259,000. Mariner LLC boosted its position in Marten Transport by 7.6% in the 4th quarter. Mariner LLC now owns 11,982 shares of the transportation company’s stock valued at $237,000 after buying an additional 846 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its stake in shares of Marten Transport by 10.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 11,183 shares of the transportation company’s stock valued at $235,000 after buying an additional 1,025 shares during the period. Finally, Natixis Advisors L.P. bought a new stake in shares of Marten Transport during the second quarter worth $204,000. Institutional investors and hedge funds own 69.12% of the company’s stock.

Marten Transport Company 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.