Marten Transport (NASDAQ:MRTN) Reaches New 12-Month Low – Here’s What Happened

Marten Transport, Ltd. (NASDAQ:MRTNGet Free Report) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $15.27 and last traded at $15.31, with a volume of 22770 shares changing hands. The stock had previously closed at $15.49.

Analyst Ratings Changes

MRTN has been the topic of a number of recent research reports. Raymond James cut Marten Transport from an “outperform” rating to a “market perform” rating in a report on Monday, October 14th. StockNews.com cut Marten Transport from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd.

Read Our Latest Report on MRTN

Marten Transport Stock Performance

The company’s 50-day moving average price is $16.64 and its 200 day moving average price is $17.09. The stock has a market capitalization of $1.24 billion, a P/E ratio of 36.36 and a beta of 0.83.

Marten Transport (NASDAQ:MRTNGet Free Report) last posted its quarterly earnings results on Thursday, October 17th. The transportation company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Marten Transport had a net margin of 3.36% and a return on equity of 4.41%. The business had revenue of $237.37 million for the quarter, compared to the consensus estimate of $244.00 million. Analysts predict that Marten Transport, Ltd. will post 0.32 earnings per share for the current year.

Marten Transport Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend was Friday, December 13th. Marten Transport’s dividend payout ratio is presently 57.14%.

Insiders Place Their Bets

In related news, Director Jerry M. Bauer bought 10,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was purchased at an average price of $15.81 per share, for a total transaction of $158,100.00. Following the acquisition, the director now owns 156,444 shares in the company, valued at $2,473,379.64. This trade represents a 6.83 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 22.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Canada Pension Plan Investment Board purchased a new position in shares of Marten Transport during the 2nd quarter worth about $28,000. KBC Group NV lifted its stake in Marten Transport by 54.6% in the third quarter. KBC Group NV now owns 3,376 shares of the transportation company’s stock worth $60,000 after purchasing an additional 1,192 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Marten Transport by 24.3% during the third quarter. Nisa Investment Advisors LLC now owns 6,587 shares of the transportation company’s stock valued at $117,000 after buying an additional 1,289 shares during the period. Intech Investment Management LLC bought a new position in shares of Marten Transport during the third quarter valued at approximately $181,000. Finally, Verition Fund Management LLC purchased a new stake in shares of Marten Transport in the third quarter worth approximately $216,000. Institutional investors own 69.12% of the company’s stock.

Marten Transport Company Profile

(Get Free Report)

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.

Further Reading

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