Marten Transport (NASDAQ:MRTN) Reaches New 52-Week Low - Here's What Happened

Marten Transport, Ltd. (NASDAQ:MRTN - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $13.52 and last traded at $13.61, with a volume of 394407 shares changing hands. The stock had previously closed at $13.65.

Analyst Upgrades and Downgrades

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

Marten Transport Price Performance

The stock's fifty day simple moving average is $15.00 and its two-hundred day simple moving average is $16.12. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 40.44 and a beta of 0.84.

Marten Transport (NASDAQ:MRTN - Get Free Report) last issued its earnings results on Monday, January 27th. The transportation company reported $0.07 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts predict that Marten Transport, Ltd. will post 0.41 EPS for the current year.

Marten Transport Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, March 14th. This represents a $0.24 dividend on an annualized basis and a yield of 1.75%. Marten Transport's dividend payout ratio is currently 70.59%.

Remove Ads

Institutional Investors Weigh In On Marten Transport

Large investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its holdings in shares of Marten Transport by 0.6% during the fourth quarter. Victory Capital Management Inc. now owns 4,071,568 shares of the transportation company's stock valued at $63,557,000 after acquiring an additional 23,201 shares during the period. Nuance Investments LLC boosted its stake in Marten Transport by 21.7% during the 4th quarter. Nuance Investments LLC now owns 3,196,811 shares of the transportation company's stock valued at $49,902,000 after purchasing an additional 569,700 shares during the period. State Street Corp increased its stake in shares of Marten Transport by 0.6% in the third quarter. State Street Corp now owns 2,339,644 shares of the transportation company's stock valued at $41,412,000 after purchasing an additional 14,088 shares during the period. American Century Companies Inc. raised its holdings in shares of Marten Transport by 10.8% during the fourth quarter. American Century Companies Inc. now owns 1,803,045 shares of the transportation company's stock valued at $28,146,000 after buying an additional 175,059 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its position in shares of Marten Transport by 2.1% during the fourth quarter. William Blair Investment Management LLC now owns 1,492,142 shares of the transportation company's stock worth $23,292,000 after buying an additional 31,303 shares during the period. 69.12% of the stock is owned by institutional investors and hedge funds.

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.