Marten Transport (NASDAQ:MRTN) Posts Quarterly Earnings Results, Meets Expectations

Marten Transport (NASDAQ:MRTN) released its quarterly earnings results on Wednesday. The transportation company reported $0.12 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.12, Yahoo Finance reports. Marten Transport had a net margin of 6.22% and a return on equity of 9.48%. The company had revenue of $249.67 million for the quarter, compared to analyst estimates of $262.77 million. During the same period last year, the firm earned $0.28 earnings per share. The firm’s revenue was down 16.2% on a year-over-year basis.

Marten Transport Trading Down 1.2 %

Shares of NASDAQ:MRTN traded down $0.20 during midday trading on Thursday, reaching $15.97. The company had a trading volume of 774,130 shares, compared to its average volume of 461,460. Marten Transport has a 52-week low of $15.87 and a 52-week high of $23.38. The company’s 50 day moving average price is $18.51 and its 200 day moving average price is $19.03. The stock has a market cap of $1.30 billion, a P/E ratio of 18.59 and a beta of 0.79.

Marten Transport Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date was Thursday, March 14th. Marten Transport’s payout ratio is 27.59%.

Institutional Trading of Marten Transport

Hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC increased its stake in shares of Marten Transport by 4,463.9% during the 2nd quarter. Millennium Management LLC now owns 689,930 shares of the transportation company’s stock worth $11,605,000 after purchasing an additional 674,813 shares during the last quarter. Susquehanna International Group LLP grew its holdings in Marten Transport by 115.3% during the fourth quarter. Susquehanna International Group LLP now owns 50,869 shares of the transportation company’s stock valued at $1,006,000 after purchasing an additional 383,910 shares during the period. Norges Bank purchased a new stake in Marten Transport in the fourth quarter worth $6,430,000. State Street Corp raised its stake in shares of Marten Transport by 8.8% in the second quarter. State Street Corp now owns 2,875,734 shares of the transportation company’s stock valued at $48,370,000 after buying an additional 231,754 shares during the period. Finally, Voya Investment Management LLC lifted its position in shares of Marten Transport by 31.9% during the 4th quarter. Voya Investment Management LLC now owns 886,830 shares of the transportation company’s stock valued at $18,606,000 after buying an additional 214,292 shares during the last quarter. Institutional investors own 69.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Vertical Research raised shares of Marten Transport from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Wednesday, January 10th.

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.