Marten Transport (NASDAQ:MRTN) Shares Down 2.9% – What’s Next?

Marten Transport, Ltd. (NASDAQ:MRTN) shares were down 2.9% during trading on Friday . The company traded as low as $16.01 and last traded at $16.02. Approximately 33,892 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 432,884 shares. The stock had previously closed at $16.49.

Analyst Ratings Changes

Several research firms have weighed in on MRTN. StockNews.com cut shares of Marten Transport from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Raymond James downgraded shares of Marten Transport from an “outperform” rating to a “market perform” rating in a research note on Monday, October 14th.

Marten Transport Price Performance

The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 38.07 and a beta of 0.83. The firm’s fifty day moving average price is $16.53 and its 200-day moving average price is $16.98.

Marten Transport (NASDAQ:MRTN) last posted its earnings results on Thursday, October 17th. The transportation company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). Marten Transport had a net margin of 3.36% and a return on equity of 4.41%. The firm had revenue of $237.37 million during the quarter, compared to the consensus estimate of $244.00 million. On average, research analysts predict that Marten Transport, Ltd. will post 0.32 earnings per share for the current year.

Marten Transport Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend was Friday, December 13th. Marten Transport’s dividend payout ratio is currently 57.14%.

Insider Activity at Marten Transport

In related news, Director Jerry M. Bauer acquired 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was acquired at an average cost of $15.81 per share, for a total transaction of $158,100.00. Following the completion of the acquisition, the director now directly owns 156,444 shares of the company’s stock, valued at approximately $2,473,379.64. This trade represents a 6.83 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 22.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Marten Transport

Institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. lifted its stake in shares of Marten Transport by 13.1% in the second quarter. American Century Companies Inc. now owns 1,402,776 shares of the transportation company’s stock worth $25,881,000 after acquiring an additional 162,924 shares during the period. Envestnet Asset Management Inc. raised its holdings in Marten Transport by 11.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 125,443 shares of the transportation company’s stock worth $2,314,000 after purchasing an additional 12,696 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Marten Transport by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,831,191 shares of the transportation company’s stock worth $107,585,000 after purchasing an additional 14,660 shares during the period. Canada Pension Plan Investment Board bought a new stake in shares of Marten Transport in the 2nd quarter valued at $28,000. Finally, Public Sector Pension Investment Board increased its position in shares of Marten Transport by 6.1% during the second quarter. Public Sector Pension Investment Board now owns 127,127 shares of the transportation company’s stock worth $2,345,000 after buying an additional 7,328 shares during the period. Institutional investors own 69.12% of the company’s stock.

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.