Marten Transport (NASDAQ:MRTN) Announces Quarterly Earnings Results

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

Marten Transport Stock Down 2.0%

Shares of MRTN traded down $0.26 during trading hours on Friday, hitting $12.75. 592,310 shares of the company were exchanged, compared to its average volume of 416,282. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 49.04 and a beta of 0.99. Marten Transport has a fifty-two week low of $12.52 and a fifty-two week high of $19.26. The firm's fifty day moving average is $13.26 and its 200 day moving average is $13.97.

Marten Transport Announces Dividend

The business also recently announced 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. This represents a $0.24 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend was Friday, June 13th. Marten Transport's dividend payout ratio (DPR) is currently 92.31%.

Insider Activity

In related news, Director Jerry M. Bauer bought 20,000 shares of Marten Transport stock in a transaction dated Monday, April 28th. The shares were bought at an average cost of $12.88 per share, with a total value of $257,600.00. Following the acquisition, the director owned 176,444 shares in the company, valued at $2,272,598.72. This trade represents a 12.78% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 22.90% of the company's stock.

Institutional Trading of Marten Transport

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

Wall Street Analysts Forecast Growth

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

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.