Marten Transport (NASDAQ:MRTN) Releases Quarterly Earnings Results, Meets Estimates

Marten Transport (NASDAQ:MRTN) posted its quarterly earnings data on Wednesday. The transportation company reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09, Zacks reports. Marten Transport had a return on equity of 2.72% and a net margin of 2.27%. The business had revenue of $229.92 million for the quarter, compared to analysts’ expectations of $231.09 million. During the same quarter in the previous year, the firm earned $0.10 earnings per share. The business’s revenue was down 6.6% on a year-over-year basis.

Marten Transport Stock Down 1.1%

Shares of NASDAQ MRTN opened at $13.01 on Friday. The firm has a market capitalization of $1.06 billion, a P/E ratio of 50.04 and a beta of 0.99. The stock’s 50-day simple moving average is $13.27 and its two-hundred day simple moving average is $13.99. Marten Transport has a twelve month low of $12.52 and a twelve month high of $19.26.

Marten Transport Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.24 dividend on an annualized basis and a yield of 1.84%. Marten Transport’s dividend payout ratio is currently 88.89%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut Marten Transport from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd.

Insider Activity at Marten Transport

In other news, Director Jerry M. Bauer acquired 20,000 shares of Marten Transport stock in a transaction dated Monday, April 28th. The shares were purchased at an average cost of $12.88 per share, for a total transaction of $257,600.00. Following the transaction, the director owned 176,444 shares of the company’s stock, valued at $2,272,598.72. This trade represents a 12.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 22.90% of the company’s stock.

Institutional Investors Weigh In On Marten Transport

Several institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada raised 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 valued at $234,000 after purchasing an additional 1,826 shares during the last quarter. AQR Capital Management LLC increased its position in Marten Transport by 18.7% during the 1st quarter. AQR Capital Management LLC now owns 61,335 shares of the transportation company’s stock valued at $842,000 after buying an additional 9,654 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Marten Transport by 4.4% during the 1st 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 last quarter. Finally, Caxton Associates LLP purchased a new stake in Marten Transport during the 1st quarter valued at $158,000. 69.12% of the stock is currently owned by hedge funds and other institutional investors.

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.