Marten Transport (NASDAQ:MRTN) Releases Quarterly Earnings Results, Hits Expectations

Marten Transport (NASDAQ:MRTN - Get Free Report) released its quarterly earnings data on Wednesday. The transportation company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09, Zacks reports. The business had revenue of $229.92 million for the quarter, compared to analysts' expectations of $231.09 million. Marten Transport had a return on equity of 2.72% and a net margin of 2.27%. The firm's quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 EPS.

Marten Transport Stock Performance

Shares of NASDAQ MRTN traded down $0.35 during midday trading on Friday, hitting $12.66. 173,589 shares of the stock traded hands, compared to its average volume of 417,499. The firm has a 50-day moving average of $13.27 and a two-hundred day moving average of $13.99. The firm has a market capitalization of $1.03 billion, a P/E ratio of 48.59 and a beta of 0.99. Marten Transport has a one year low of $12.52 and a one year high of $19.26.

Marten Transport Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, June 13th. This represents a $0.24 annualized dividend and a dividend yield of 1.90%. Marten Transport's payout ratio is 88.89%.

Insider Buying and Selling at Marten Transport

In other news, Director Jerry M. Bauer purchased 20,000 shares of the stock in a transaction dated Monday, April 28th. The shares were purchased at an average cost of $12.88 per share, with a total value of $257,600.00. Following the acquisition, the director directly owned 176,444 shares of the company's stock, valued at $2,272,598.72. This represents a 12.78% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 22.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Marten Transport

Hedge funds and other institutional investors have recently modified their holdings of the company. Caxton Associates LLP bought a new position in shares of Marten Transport during the 1st quarter valued at $158,000. Royal Bank of Canada increased its stake in shares of Marten Transport by 12.0% in the 1st quarter. Royal Bank of Canada now owns 17,028 shares of the transportation company's stock worth $234,000 after purchasing an additional 1,826 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Marten Transport by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,496 shares of the transportation company's stock worth $473,000 after purchasing an additional 1,447 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Marten Transport by 18.7% in the 1st quarter. AQR Capital Management LLC now owns 61,335 shares of the transportation company's stock worth $842,000 after purchasing an additional 9,654 shares in the last quarter. 69.12% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut Marten Transport from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd.

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.