Marten Transport, Ltd. (MRTN) Increases Dividend to $0.03 Per Share
Marten Transport, Ltd. (NASDAQ:MRTN) declared a quarterly dividend on Wednesday, August 16th, Wall Street Journal reports. Stockholders of record on Friday, September 15th will be given a dividend of 0.025 per share by the transportation company on Friday, September 29th. This represents a $0.10 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Thursday, September 14th. This is a positive change from Marten Transport’s previous quarterly dividend of $0.02.
Marten Transport (MRTN) opened at 16.20 on Thursday. The stock has a market cap of $883.09 million, a P/E ratio of 26.05 and a beta of 1.27. The company’s 50-day moving average price is $16.28 and its 200-day moving average price is $15.05. Marten Transport has a one year low of $11.22 and a one year high of $17.90.
Marten Transport (NASDAQ:MRTN) last issued its earnings results on Thursday, July 20th. The transportation company reported $0.17 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.02. The business had revenue of $171.51 million for the quarter, compared to analyst estimates of $176.08 million. Marten Transport had a net margin of 4.96% and a return on equity of 7.72%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company posted $0.26 earnings per share. Analysts forecast that Marten Transport will post $0.63 EPS for the current fiscal year.
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In related news, Chairman Randolph L. Marten sold 50,000 shares of Marten Transport stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $25.51, for a total transaction of $1,275,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John H. Turner sold 4,000 shares of Marten Transport stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $25.59, for a total transaction of $102,360.00. The disclosure for this sale can be found here. Company insiders own 23.00% of the company’s stock.
Several equities analysts recently issued reports on MRTN shares. Zacks Investment Research raised shares of Marten Transport from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Stifel Nicolaus lifted their price objective on shares of Marten Transport from $13.20 to $15.00 and gave the company a “hold” rating in a report on Tuesday, April 25th. BidaskClub lowered shares of Marten Transport from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Finally, ValuEngine raised shares of Marten Transport from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $17.00.
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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