Marten Transport (NASDAQ:MRTN) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen cut shares of Marten Transport (NASDAQ:MRTN) from a hold rating to a sell rating in a research note published on Thursday.

Separately, Stephens upped their price target on shares of Marten Transport from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th.

Marten Transport Price Performance

Shares of NASDAQ:MRTN opened at $12.99 on Thursday. The company’s 50 day simple moving average is $13.34 and its 200 day simple moving average is $15.00. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 38.21 and a beta of 1.04. Marten Transport has a 1 year low of $12.52 and a 1 year high of $19.26.

Marten Transport (NASDAQ:MRTN) last announced its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.05 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.05. The business had revenue of $223.15 million for the quarter, compared to analysts’ expectations of $228.79 million. Marten Transport had a net margin of 2.79% and a return on equity of 3.52%. As a group, analysts anticipate that Marten Transport will post 0.41 EPS for the current fiscal year.

Marten Transport Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.24 annualized dividend and a dividend yield of 1.85%. Marten Transport’s dividend payout ratio (DPR) is presently 88.89%.

Insider Transactions at Marten Transport

In related news, Director Jerry M. Bauer purchased 20,000 shares of the stock in a transaction dated Monday, April 28th. The stock was bought at an average cost of $12.88 per share, for a total transaction of $257,600.00. Following the completion of the acquisition, the director now owns 176,444 shares of the company’s stock, valued at approximately $2,272,598.72. This represents a 12.78% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 22.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MRTN. Independence Bank of Kentucky acquired a new position in shares of Marten Transport during the fourth quarter worth $40,000. Meeder Asset Management Inc. acquired a new stake in Marten Transport in the fourth quarter valued at $42,000. Johnson Financial Group Inc. acquired a new stake in Marten Transport in the fourth quarter valued at $48,000. Quantbot Technologies LP acquired a new stake in Marten Transport in the fourth quarter valued at $100,000. Finally, PNC Financial Services Group Inc. increased its holdings in Marten Transport by 44.6% in the first quarter. PNC Financial Services Group Inc. now owns 7,428 shares of the transportation company’s stock valued at $102,000 after purchasing an additional 2,291 shares during the period. 69.12% of the stock is currently owned by institutional investors and hedge funds.

About Marten Transport

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.