Marten Transport (NASDAQ:MRTN) Shares Gap Down to $16.76

Marten Transport, Ltd. (NASDAQ:MRTN - Get Free Report)'s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $16.76, but opened at $16.39. Marten Transport shares last traded at $16.49, with a volume of 37,723 shares traded.

Wall Street Analyst Weigh In

Separately, Vertical Research raised Marten Transport from a "hold" rating to a "buy" rating and set a $25.00 price target for the company in a research note on Wednesday, January 10th.

Marten Transport Stock Performance

The stock's 50 day moving average price is $18.58 and its 200-day moving average price is $19.05. The company has a market cap of $1.32 billion, a PE ratio of 18.78 and a beta of 0.79.

Marten Transport (NASDAQ:MRTN - Get Free Report) last posted its quarterly earnings results on Thursday, January 25th. The transportation company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.03). Marten Transport had a net margin of 6.22% and a return on equity of 9.48%. The business had revenue of $268.20 million for the quarter, compared to analysts' expectations of $271.62 million. During the same quarter in the previous year, the company earned $0.31 earnings per share. The business's quarterly revenue was down 16.9% on a year-over-year basis.

Marten Transport Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.06 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.24 annualized dividend and a yield of 1.48%. Marten Transport's payout ratio is currently 27.59%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Confluence Investment Management LLC bought a new position in shares of Marten Transport during the first quarter valued at about $2,988,000. Vanguard Group Inc. raised its position in Marten Transport by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 4,338,538 shares of the transportation company's stock valued at $91,023,000 after purchasing an additional 132,407 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Marten Transport by 6.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,350 shares of the transportation company's stock worth $490,000 after buying an additional 1,516 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Marten Transport in the 4th quarter worth approximately $1,046,000. Finally, Mercer Global Advisors Inc. ADV grew its position in shares of Marten Transport by 10.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 11,183 shares of the transportation company's stock worth $235,000 after buying an additional 1,025 shares during 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.