Marten Transport (NASDAQ:MRTN) Sets New 52-Week High – Here’s What Happened

Marten Transport, Ltd. (NASDAQ:MRTN)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $15.93 and last traded at $15.8850, with a volume of 128587 shares. The stock had previously closed at $15.55.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MRTN shares. Wall Street Zen upgraded Marten Transport from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Robert W. Baird upgraded shares of Marten Transport to a “strong-buy” rating in a research report on Wednesday, April 1st. Weiss Ratings raised shares of Marten Transport from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, April 2nd. Stephens lowered shares of Marten Transport from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Finally, Zacks Research raised shares of Marten Transport from a “strong sell” rating to a “hold” rating in a research note on Friday, March 13th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy”.

Marten Transport Trading Down 0.2%

The company has a market capitalization of $1.27 billion, a PE ratio of 81.69 and a beta of 0.89. The firm’s 50-day simple moving average is $13.75 and its 200-day simple moving average is $12.45.

Marten Transport (NASDAQ:MRTN) last announced its quarterly earnings results on Thursday, April 23rd. The transportation company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). Marten Transport had a net margin of 1.68% and a return on equity of 1.89%. The firm had revenue of $203.53 million for the quarter, compared to analysts’ expectations of $207.20 million. During the same quarter in the prior year, the business posted $0.05 EPS. The business’s quarterly revenue was down 8.8% on a year-over-year basis. As a group, analysts anticipate that Marten Transport, Ltd. will post 0.22 EPS for the current year.

Marten Transport Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, June 16th. Marten Transport’s dividend payout ratio (DPR) is currently 126.32%.

Institutional Trading of Marten Transport

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MRTN. AlphaQuest LLC increased its stake in shares of Marten Transport by 0.6% in the fourth quarter. AlphaQuest LLC now owns 121,536 shares of the transportation company’s stock worth $1,383,000 after acquiring an additional 755 shares during the period. Alliancebernstein L.P. lifted its position in Marten Transport by 1.7% during the third quarter. Alliancebernstein L.P. now owns 76,690 shares of the transportation company’s stock valued at $818,000 after purchasing an additional 1,271 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Marten Transport by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,496 shares of the transportation company’s stock valued at $473,000 after purchasing an additional 1,447 shares during the period. Sei Investments Co. boosted its holdings in Marten Transport by 3.4% in the third quarter. Sei Investments Co. now owns 48,628 shares of the transportation company’s stock valued at $518,000 after purchasing an additional 1,595 shares during the last quarter. Finally, Royal Bank of Canada grew its position in Marten Transport by 12.0% during the 1st quarter. Royal Bank of Canada now owns 17,028 shares of the transportation company’s stock worth $234,000 after purchasing an additional 1,826 shares during the period. Institutional investors and hedge funds own 69.12% of the company’s stock.

Marten Transport Company Profile

Marten Transport, Inc is a North American transportation services provider offering temperature-controlled and dry van truckload services. Founded in 1946 and headquartered in Mondovi, Wisconsin, the company specializes in full truckload, dedicated contract carriage, intermodal and port drayage solutions. Its core focus on refrigerated and produce freight has made it a key partner for food manufacturers, retailers and other shippers requiring strict temperature management.

The company maintains a modern fleet of tractors and trailers equipped with advanced telematics, electronic logging devices and continuous temperature monitoring.