Marten Transport Ltd. (MRTN) Sets New 1-Year High at $22.09
Shares of Marten Transport Ltd. (NASDAQ:MRTN) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $22.09 and last traded at $21.69, with a volume of 73,877 shares. The stock had previously closed at $21.74.
MRTN has been the topic of several analyst reports. Stifel Nicolaus downgraded Marten Transport from a “buy” rating to a “hold” rating and cut their target price for the company from $20.00 to $18.00 in a research report on Thursday, April 7th. Zacks Investment Research downgraded Marten Transport from a “hold” rating to a “sell” rating in a research report on Friday, June 24th.
The company has a market cap of $703.25 million and a PE ratio of 21.48. The firm’s 50-day moving average is $20.20 and its 200-day moving average is $18.32.
Marten Transport (NASDAQ:MRTN) last posted its earnings results on Thursday, April 21st. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.23 by $0.02. During the same period last year, the business earned $0.30 earnings per share. The company had revenue of $151.90 million for the quarter, compared to analyst estimates of $168.70 million. The firm’s revenue was up 9.0% on a year-over-year basis. On average, analysts forecast that Marten Transport Ltd. will post $1.03 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 28th. Shareholders of record on Tuesday, June 14th were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.46%. The ex-dividend date was Friday, June 10th.
In other Marten Transport news, VP John H. Turner sold 2,400 shares of the firm’s stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $19.40, for a total value of $46,560.00. Following the sale, the vice president now directly owns 25,913 shares of the company’s stock, valued at $502,712.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Randolph L. Marten sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 28th. The shares were sold at an average price of $19.21, for a total value of $1,152,600.00. Following the completion of the sale, the chief executive officer now directly owns 7,339,171 shares in the company, valued at $140,985,474.91. The disclosure for this sale can be found here.
A number of hedge funds have modified their holdings of the stock. Nationwide Fund Advisors raised its stake in shares of Marten Transport by 18.5% in the fourth quarter. Nationwide Fund Advisors now owns 198,262 shares of the company’s stock valued at $3,509,000 after buying an additional 30,988 shares during the last quarter. Sei Investments Co. raised its stake in shares of Marten Transport by 1.2% in the fourth quarter. Sei Investments Co. now owns 100,074 shares of the company’s stock valued at $1,772,000 after buying an additional 1,165 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Marten Transport by 1,119.2% in the fourth quarter. First Trust Advisors LP now owns 168,527 shares of the company’s stock valued at $2,983,000 after buying an additional 154,704 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Marten Transport by 3.8% in the fourth quarter. Rhumbline Advisers now owns 63,863 shares of the company’s stock valued at $1,130,000 after buying an additional 2,310 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of Marten Transport by 8.9% in the fourth quarter. New York State Common Retirement Fund now owns 81,243 shares of the company’s stock valued at $1,438,000 after buying an additional 6,617 shares during the last quarter.
Marten Transport, Ltd. is a national protective service transportation company. It is a temperature-sensitive truckload carrier. The Company specializes in transporting and distributing food and other consumer-packaged goods that require a temperature-controlled or insulated environment. The Company operates through four segments: Truckload, Dedicated, Intermodal and Brokerage.
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