Marten Transport, Ltd. (NASDAQ:MRTN) Announces Quarterly Dividend of $0.06

Marten Transport, Ltd. (NASDAQ:MRTN) announced a quarterly dividend on Tuesday, May 7th, Zacks reports. Stockholders of record on Friday, June 14th will be given a dividend of 0.06 per share by the transportation company on Friday, June 28th. This represents a $0.24 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Friday, June 14th.

Marten Transport has raised its dividend payment by an average of 21.6% annually over the last three years. Marten Transport has a payout ratio of 23.5% indicating that its dividend is sufficiently covered by earnings.

Marten Transport Stock Performance

Shares of NASDAQ:MRTN traded up $0.09 during midday trading on Thursday, reaching $17.71. The company’s stock had a trading volume of 100,820 shares, compared to its average volume of 460,305. The firm has a 50 day moving average price of $17.78 and a two-hundred day moving average price of $18.77. Marten Transport has a fifty-two week low of $15.33 and a fifty-two week high of $23.38. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 24.93 and a beta of 0.79.

Marten Transport (NASDAQ:MRTN) last posted its quarterly earnings results on Thursday, April 18th. The transportation company reported $0.12 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.12. The firm had revenue of $249.67 million for the quarter, compared to analysts’ expectations of $262.77 million. Marten Transport had a return on equity of 7.65% and a net margin of 5.31%. The company’s revenue for the quarter was down 16.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.28 EPS.

Wall Street Analyst Weigh In

Several analysts have commented on MRTN shares. Stephens lowered their price objective on shares of Marten Transport from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Friday, April 19th. Vertical Research upgraded Marten Transport from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Wednesday, January 10th.

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.