Marten Transport (NASDAQ:MRTN) Reaches New 12-Month High – What’s Next?

Marten Transport, Ltd. (NASDAQ:MRTN) shares hit a new 52-week high during trading on Thursday . The company traded as high as $16.44 and last traded at $16.40, with a volume of 1677016 shares traded. The stock had previously closed at $16.13.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MRTN. Wall Street Zen upgraded Marten Transport from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Weiss Ratings upgraded Marten Transport from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, April 2nd. Stephens cut Marten Transport from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. Robert W. Baird upgraded Marten Transport to a “strong-buy” rating in a research report on Wednesday, April 1st. Finally, Zacks Research upgraded Marten Transport from a “strong sell” rating to a “hold” rating in a research report on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Marten Transport presently has an average rating of “Moderate Buy”.

Marten Transport Price Performance

The firm has a 50-day moving average of $14.13 and a 200-day moving average of $12.68. The stock has a market cap of $1.36 billion, a PE ratio of 87.85 and a beta of 0.89.

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

Marten Transport Announces Dividend

The company 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 dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, June 16th. Marten Transport’s dividend payout ratio (DPR) is currently 126.32%.

Hedge Funds Weigh In On Marten Transport

Institutional investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC grew its holdings in Marten Transport by 2,083.8% during the 4th quarter. Global Retirement Partners LLC now owns 2,555 shares of the transportation company’s stock valued at $29,000 after buying an additional 2,438 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in Marten Transport by 660.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,929 shares of the transportation company’s stock valued at $33,000 after buying an additional 2,544 shares in the last quarter. CIBC Private Wealth Group LLC purchased a new position in Marten Transport during the 3rd quarter valued at approximately $40,000. Farther Finance Advisors LLC grew its holdings in Marten Transport by 3,553.8% during the 4th quarter. Farther Finance Advisors LLC now owns 3,873 shares of the transportation company’s stock valued at $44,000 after buying an additional 3,767 shares in the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new position in Marten Transport during the 3rd quarter valued at approximately $43,000. Hedge funds and other institutional investors 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.