Marten Transport (NASDAQ:MRTN) Sets New 52-Week Low – Here’s What Happened

Marten Transport, Ltd. (NASDAQ:MRTN)’s stock price hit a new 52-week low during trading on Tuesday . The company traded as low as $14.07 and last traded at $14.12, with a volume of 97583 shares changing hands. The stock had previously closed at $14.35.

Wall Street Analysts Forecast Growth

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

Marten Transport Stock Performance

The company’s fifty day moving average price is $15.21 and its 200-day moving average price is $16.26. The stock has a market cap of $1.11 billion, a P/E ratio of 40.15 and a beta of 0.84.

Marten Transport (NASDAQ:MRTN) last posted its quarterly earnings data on Monday, January 27th. The transportation company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. Marten Transport had a net margin of 2.79% and a return on equity of 3.52%. Analysts anticipate that Marten Transport, Ltd. will post 0.41 earnings per share for the current fiscal year.

Marten Transport Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.24 annualized dividend and a dividend yield of 1.76%. Marten Transport’s dividend payout ratio (DPR) is 70.59%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MRTN. Geneva Capital Management LLC boosted its position in Marten Transport by 0.5% in the 3rd quarter. Geneva Capital Management LLC now owns 3,231,604 shares of the transportation company’s stock valued at $57,199,000 after buying an additional 15,388 shares during the period. KBC Group NV increased its position in shares of Marten Transport by 54.6% during the third quarter. KBC Group NV now owns 3,376 shares of the transportation company’s stock worth $60,000 after acquiring an additional 1,192 shares during the period. Nuance Investments LLC raised its stake in shares of Marten Transport by 13.0% during the third quarter. Nuance Investments LLC now owns 2,627,111 shares of the transportation company’s stock valued at $46,500,000 after acquiring an additional 303,132 shares in the last quarter. Intech Investment Management LLC bought a new position in Marten Transport in the third quarter worth approximately $181,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Marten Transport by 4.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 940,431 shares of the transportation company’s stock worth $16,646,000 after purchasing an additional 38,990 shares during the period. 69.12% of the stock is currently owned by 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.