Marten Transport Ltd. (MRTN) Sees Strong Trading Volume
Marten Transport Ltd. (NASDAQ:MRTN) saw unusually-strong trading volume on Monday . Approximately 156,925 shares were traded during trading, a decline of 10% from the previous session’s volume of 174,555 shares.The stock last traded at $21.86 and had previously closed at $21.69.
A number of research analysts have recently commented on MRTN shares. Zacks Investment Research upgraded shares of Marten Transport from a “sell” rating to a “hold” rating in a research report on Tuesday, May 3rd. Stifel Nicolaus lowered shares of Marten Transport from a “buy” rating to a “hold” rating and reduced their price target for the company from $20.00 to $18.00 in a research report on Thursday, April 7th.
The stock has a market capitalization of $703.90 million and a PE ratio of 21.50. The company’s 50-day moving average price is $20.25 and its 200-day moving average price is $18.36.
Marten Transport (NASDAQ:MRTN) last released its quarterly earnings results on Thursday, April 21st. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. The firm had revenue of $151.90 million for the quarter, compared to analysts’ expectations of $168.70 million. During the same period in the prior year, the firm posted $0.30 earnings per share. Marten Transport’s revenue for the quarter was up 9.0% on a year-over-year basis. Equities research analysts anticipate that Marten Transport Ltd. will post $1.03 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 28th. Investors of record on Tuesday, June 14th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Friday, June 10th. This represents a $0.10 dividend on an annualized basis and a yield of 0.46%.
In related news, CEO Randolph L. Marten sold 40,000 shares of Marten Transport stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $19.27, for a total transaction of $770,800.00. Following the completion of the sale, the chief executive officer now owns 7,283,921 shares in the company, valued at approximately $140,361,157.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP John H. Turner sold 2,400 shares of Marten Transport stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $19.40, for a total transaction of $46,560.00. Following the sale, the vice president now owns 25,913 shares of the company’s stock, valued at approximately $502,712.20. The disclosure for this sale can be found here.
A number of large investors recently made changes to their positions in MRTN. 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 worth $1,438,000 after buying an additional 6,617 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 worth $1,130,000 after buying an additional 2,310 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 worth $2,983,000 after buying an additional 154,704 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 worth $1,772,000 after buying an additional 1,165 shares during the last quarter. Finally, 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 worth $3,509,000 after buying an additional 30,988 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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