Marten Transport (NASDAQ:MRTN) Hits New 52-Week Low - Here's Why

Marten Transport, Ltd. (NASDAQ:MRTN - Get Free Report) reached a new 52-week low on Wednesday . The company traded as low as $15.27 and last traded at $15.31, with a volume of 22770 shares trading hands. The stock had previously closed at $15.49.

Wall Street Analysts Forecast Growth

MRTN has been the subject of several recent research reports. StockNews.com cut Marten Transport from a "hold" rating to a "sell" rating in a research report on Wednesday, October 2nd. Raymond James cut shares of Marten Transport from an "outperform" rating to a "market perform" rating in a research note on Monday, October 14th.

Marten Transport Stock Performance

The company has a 50 day simple moving average of $16.63 and a 200 day simple moving average of $17.07. The company has a market capitalization of $1.24 billion, a PE ratio of 36.33 and a beta of 0.83.

Marten Transport (NASDAQ:MRTN - Get Free Report) last issued its earnings results on Thursday, October 17th. The transportation company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.02). Marten Transport had a return on equity of 4.41% and a net margin of 3.36%. The company had revenue of $237.37 million for the quarter, compared to analyst estimates of $244.00 million. As a group, equities research analysts anticipate that Marten Transport, Ltd. will post 0.32 EPS for the current year.

Marten Transport Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.24 annualized dividend and a yield of 1.57%. Marten Transport's dividend payout ratio (DPR) is currently 57.14%.

Insider Buying and Selling at Marten Transport

In related news, Director Jerry M. Bauer acquired 10,000 shares of the firm's stock in a transaction dated Wednesday, October 30th. The stock was acquired at an average price of $15.81 per share, for a total transaction of $158,100.00. Following the purchase, the director now owns 156,444 shares of the company's stock, valued at $2,473,379.64. This represents a 6.83 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 22.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Marten Transport

Several hedge funds have recently added to or reduced their stakes in the stock. Nuance Investments LLC boosted its stake in Marten Transport by 78.0% during the 2nd quarter. Nuance Investments LLC now owns 2,323,979 shares of the transportation company's stock worth $42,877,000 after purchasing an additional 1,018,673 shares during the period. American Century Companies Inc. boosted its stake in shares of Marten Transport by 13.1% during the second quarter. American Century Companies Inc. now owns 1,402,776 shares of the transportation company's stock worth $25,881,000 after buying an additional 162,924 shares during the period. Barclays PLC grew its holdings in shares of Marten Transport by 140.3% during the third quarter. Barclays PLC now owns 136,498 shares of the transportation company's stock worth $2,416,000 after buying an additional 79,689 shares during the last quarter. Deprince Race & Zollo Inc. purchased a new position in shares of Marten Transport during the second quarter worth about $5,334,000. Finally, BNP Paribas Financial Markets increased its position in Marten Transport by 120.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 138,508 shares of the transportation company's stock valued at $2,452,000 after acquiring an additional 75,721 shares during the period. 69.12% of the stock is currently owned by hedge funds and other institutional investors.

Marten Transport Company Profile

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.