Marten Transport, Ltd (NASDAQ:MRTN) announced a None dividend on Tuesday, August 13th, NASDAQ reports. Shareholders of record on Monday, August 26th will be given a dividend of 0.68 per share by the transportation company on Monday, September 30th. The ex-dividend date is Friday, August 23rd.
Marten Transport has increased its dividend payment by an average of 18.6% per year over the last three years. Marten Transport has a payout ratio of 12.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Marten Transport to earn $1.20 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 10.0%.
NASDAQ MRTN opened at $19.87 on Thursday. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 19.87 and a beta of 1.49. The stock’s 50 day moving average price is $19.14 and its two-hundred day moving average price is $18.73. Marten Transport has a 52 week low of $15.39 and a 52 week high of $23.45.
MRTN has been the topic of several research reports. BidaskClub upgraded Marten Transport from a “sell” rating to a “hold” rating in a research note on Friday, June 28th. Stephens initiated coverage on Marten Transport in a research note on Monday, July 1st. They issued a “hold” rating on the stock. Stifel Nicolaus set a $18.00 target price on Marten Transport and gave the company a “hold” rating in a research note on Friday, July 19th. Finally, Zacks Investment Research upgraded Marten Transport from a “sell” rating to a “hold” rating and set a $22.00 target price on the stock in a research note on Friday, August 16th. Five research analysts have rated the stock with a hold rating, Marten Transport presently has a consensus rating of “Hold” and a consensus price target of $20.67.
About Marten Transport
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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