Marten Transport (NASDAQ:MRTN) Sets New 52-Week Low - Time to Sell?

Key Points

• Marten Transport shares hit a new 52-week low of $10.60, prompting analysts to question whether it's time to sell.
• Wall Street analysts have downgraded the stock from a "hold" to a "sell" rating, with a consensus price target of $19.00.
• The company recently declared a quarterly dividend of $0.06, yielding 2.3%, with a high payout ratio of 92.31%.

Shares of Marten Transport, Ltd. (NASDAQ:MRTN - Get Free Report) reached a new 52-week low on Monday . The stock traded as low as $10.60 and last traded at $10.62, with a volume of 220071 shares. The stock had previously closed at $10.73.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded Marten Transport from a "hold" rating to a "sell" rating in a research note on Saturday, August 30th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $19.00.

Marten Transport Trading Down 0.7%

The firm has a fifty day simple moving average of $11.88 and a two-hundred day simple moving average of $12.79. The stock has a market cap of $868.19 million, a PE ratio of 40.96 and a beta of 0.99.

Marten Transport (NASDAQ:MRTN - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The transportation company reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. Marten Transport had a return on equity of 2.72% and a net margin of 2.27%.The firm had revenue of $229.92 million for the quarter, compared to analysts' expectations of $231.09 million. During the same quarter last year, the firm posted $0.10 EPS. The company's revenue was down 6.6% compared to the same quarter last year. Equities analysts forecast that Marten Transport, Ltd. will post 0.41 earnings per share for the current year.

Marten Transport Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 16th. Marten Transport's payout ratio is 92.31%.

Hedge Funds Weigh In On Marten Transport

Large investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. increased its stake in Marten Transport by 5.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 120,101 shares of the transportation company's stock worth $1,648,000 after purchasing an additional 5,874 shares during the period. Public Sector Pension Investment Board boosted its position in shares of Marten Transport by 27.3% during the first quarter. Public Sector Pension Investment Board now owns 183,399 shares of the transportation company's stock valued at $2,516,000 after purchasing an additional 39,300 shares in the last quarter. Nuance Investments LLC boosted its position in shares of Marten Transport by 63.8% during the first quarter. Nuance Investments LLC now owns 5,237,442 shares of the transportation company's stock valued at $71,858,000 after purchasing an additional 2,040,631 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Marten Transport during the first quarter valued at approximately $3,216,000. Finally, Victory Capital Management Inc. boosted its position in shares of Marten Transport by 1.6% during the first quarter. Victory Capital Management Inc. now owns 4,135,484 shares of the transportation company's stock valued at $56,739,000 after purchasing an additional 63,916 shares in the last quarter. 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.

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