Marten Transport, Ltd. (NASDAQ:MRTN) Declares Quarterly Dividend of $0.06

Marten Transport, Ltd. (NASDAQ:MRTN - Get Free Report) announced a quarterly dividend on Friday, February 21st, Wall Street Journal reports. Stockholders of record on Friday, March 14th will be given a dividend of 0.06 per share by the transportation company on Friday, March 28th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Friday, March 14th.

Marten Transport has increased its dividend by an average of 14.5% per year over the last three years. Marten Transport has a dividend payout ratio of 34.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Marten Transport to earn $0.71 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 33.8%.

Marten Transport Stock Up 1.1 %

Shares of NASDAQ:MRTN traded up $0.16 during midday trading on Thursday, hitting $14.60. The stock had a trading volume of 182,490 shares, compared to its average volume of 391,839. The business's 50-day simple moving average is $15.47 and its 200-day simple moving average is $16.47. Marten Transport has a 12 month low of $14.37 and a 12 month high of $19.34. The company has a market cap of $1.19 billion, a P/E ratio of 42.93 and a beta of 0.83.

Marten Transport (NASDAQ:MRTN - Get Free Report) last announced its earnings results on Monday, January 27th. The transportation company reported $0.07 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts predict that Marten Transport will post 0.41 earnings per share for the current year.

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Wall Street Analyst Weigh In

Separately, Stephens boosted their target price on shares of Marten Transport from $18.00 to $19.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 28th.

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.