Marten Transport, Ltd. (MRTN) to Issue Quarterly Dividend of $0.06 on June 30th
Marten Transport, Ltd. (NASDAQ:MRTN – Get Rating) announced a quarterly dividend on Wednesday, May 4th, Zacks reports. Shareholders of record on Thursday, June 16th will be paid a dividend of 0.06 per share by the transportation company on Thursday, June 30th. This represents a £0.24 annualized dividend and a yield of 1.30%.
The ex-dividend date is Wednesday, June 15th. Marten Transport has increased its dividend payment by an average of 114.7% per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Marten Transport has a payout ratio of 17.9% meaning its dividend is sufficiently covered by earnings.
Equities analysts expect Marten Transport to earn £1.27 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 18.9%. Shares of MRTN stock opened at £18.53 on Friday. Marten Transport has a fifty-two week low of £14.72 and a fifty-two week high of £19.94.
The stock has a 50 day moving average price of £17.82 and a two-hundred day moving average price of £17.11. The company has a market capitalization of £1.54 billion, a P/E ratio of 16.11 and a beta of 0.83.
Marten Transport (NASDAQ:MRTN – Get Rating) last announced its quarterly earnings data on Tuesday, April 19th. The transportation company reported £0.33 earnings per share for the quarter, beating the consensus estimate of £0.26 by £0.07.
Marten Transport had a return on equity of 14.70% and a net margin of 9.15%. The firm had revenue of £287.28 million during the quarter, compared to the consensus estimate of £262.17 million. During the same quarter in the previous year, the company posted £0.22 earnings per share.
The business’s revenue was up 28.8% on a year-over-year basis. On average, equities analysts forecast that Marten Transport will post 1.25 EPS for the current year.
In other news, EVP John H. Turner sold 9,661 shares of Marten Transport stock in a transaction that occurred on Thursday, March 3rd.
The shares were sold at an average price of £18.09, for a total value of £174,767.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert L.
Demorest sold 10,313 shares of Marten Transport stock in a transaction that occurred on Wednesday, February 23rd. The stock was sold at an average price of £16.96, for a total transaction of £174,908.48. The disclosure for this sale can be found here.
Over the last 90 days, insiders have sold 29,324 shares of company stock valued at £526,179.
22.50% of the stock is owned by company insiders. Several hedge funds have recently made changes to their positions in the company. LPL Financial LLC grew its position in Marten Transport by 17.5% during the third quarter.
LPL Financial LLC now owns 27,560 shares of the transportation company’s stock valued at £432,000 after buying an additional 4,104 shares during the period. Renaissance Technologies LLC bought a new stake in Marten Transport during the fourth quarter valued at approximately £563,000. Citigroup Inc. grew its position in Marten Transport by 44.0% during the fourth quarter.
Citigroup Inc. now owns 48,612 shares of the transportation company’s stock valued at £834,000 after buying an additional 14,863 shares during the period. Credit Suisse AG grew its position in Marten Transport by 7.0% during the fourth quarter. Credit Suisse AG now owns 50,320 shares of the transportation company’s stock valued at £864,000 after buying an additional 3,283 shares during the period.
Finally, D. E. Shaw & Co.
Inc. grew its position in Marten Transport by 159.8% during the fourth quarter. D. E.
Shaw & Co. Inc. now owns 60,955 shares of the transportation company’s stock valued at £1,046,000 after buying an additional 37,489 shares during the period. Hedge funds and other institutional investors own 68.50% of the company’s stock.
Several equities research analysts have recently commented on the stock. Stephens raised their target price on shares of Marten Transport from £21.00 to £22.00 in a research report on Friday, April 1st. StockNews.com assumed coverage on shares of Marten Transport in a research report on Thursday, March 31st. They issued a “buy” rating for the company.
Finally, Zacks Investment Research raised shares of Marten Transport from a “hold” rating to a “buy” rating and set a £19.00 target price for the company in a research report on Friday, April 22nd. About Marten Transport (Get Rating) Marten Transport, Ltd. operates as a temperature-sensitive truckload carrier for shippers in the United States, Canada, and Mexico.
It 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. Recommended Stories
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