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

Marten Transport, Ltd. (NASDAQ:MRTN) shares reached a new 52-week low during trading on Wednesday . The company 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.

Wall Street Analyst Weigh In

Several research firms have recently commented on MRTN. Raymond James cut shares of Marten Transport from an “outperform” rating to a “market perform” rating in a research 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.

Marten Transport Stock Performance

The stock has a market capitalization of $1.24 billion, a PE ratio of 36.33 and a beta of 0.83. The stock’s 50-day moving average price is $16.63 and its two-hundred day moving average price is $17.06.

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

Marten Transport Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a dividend of $0.06 per share. The ex-dividend date was Friday, December 13th. This represents a $0.24 dividend on an annualized basis and a yield of 1.57%. Marten Transport’s dividend payout ratio is presently 57.14%.

Insider Transactions at Marten Transport

In other Marten Transport news, Director Jerry M. Bauer purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average cost of $15.81 per share, with a total value of $158,100.00. Following the acquisition, the director now owns 156,444 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is available through this link. Company insiders own 22.90% of the company’s stock.

Hedge Funds Weigh In On Marten Transport

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Canada Pension Plan Investment Board purchased a new stake in shares of Marten Transport in the second quarter worth approximately $28,000. KBC Group NV increased 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 period. Nisa Investment Advisors LLC lifted 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 worth $117,000 after purchasing an additional 1,289 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Marten Transport during the third quarter valued at $181,000. Finally, Verition Fund Management LLC bought a new position in shares of Marten Transport in the third quarter worth about $216,000. 69.12% of the stock is owned by hedge funds and other institutional investors.

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.