Marten Transport, Ltd. (NASDAQ:MRTN – Get Free Report) declared a quarterly dividend on Tuesday, May 7th, Zacks reports. Investors 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 yield of 1.36%. The ex-dividend date of this dividend is Friday, June 14th.
Marten Transport has increased its dividend 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
Marten Transport stock traded up $0.04 during trading hours on Thursday, hitting $17.66. The company had a trading volume of 72,304 shares, compared to its average volume of 459,944. The firm has a market cap of $1.44 billion, a P/E ratio of 24.93 and a beta of 0.79. The company 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 1 year low of $15.33 and a 1 year high of $23.38.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on MRTN shares. Vertical Research upgraded Marten Transport from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Wednesday, January 10th. Stephens dropped their price objective on Marten Transport from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Friday, April 19th.
View Our Latest Research Report on MRTN
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.
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