Marten Transport (NASDAQ:MRTN) Announces Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Marten Transport (NASDAQ:MRTN) released its quarterly earnings results on Thursday. The transportation company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01), FiscalAI reports. The business had revenue of $223.54 million for the quarter, compared to analysts’ expectations of $227.10 million. Marten Transport had a net margin of 1.68% and a return on equity of 1.89%. Marten Transport’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.09 EPS.

Marten Transport Trading Down 2.5%

Marten Transport stock opened at $16.88 on Friday. The firm has a 50-day moving average price of $17.26 and a 200-day moving average price of $14.76. The firm has a market capitalization of $1.38 billion, a PE ratio of 88.85 and a beta of 0.93. Marten Transport has a 12-month low of $9.35 and a 12-month high of $18.48.

Marten Transport Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Tuesday, June 16th. Marten Transport’s dividend payout ratio (DPR) is 126.32%.

Wall Street Analyst Weigh In

MRTN has been the subject of a number of recent research reports. Stephens raised shares of Marten Transport to a “hold” rating in a research note on Wednesday, July 8th. Robert W. Baird raised shares of Marten Transport to a “strong-buy” rating in a report on Wednesday, April 1st. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Marten Transport in a research report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Marten Transport presently has a consensus rating of “Moderate Buy”.

Institutional Trading of Marten Transport

Several institutional investors have recently added to or reduced their stakes in MRTN. Invesco Ltd. grew its stake in shares of Marten Transport by 17.3% during the fourth quarter. Invesco Ltd. now owns 489,394 shares of the transportation company’s stock valued at $5,569,000 after buying an additional 72,262 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in Marten Transport by 84.8% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 24,650 shares of the transportation company’s stock valued at $281,000 after acquiring an additional 11,311 shares during the period. VARCOV Co. purchased a new position in Marten Transport during the 4th quarter valued at $435,000. Twinbeech Capital LP grew its position in Marten Transport by 24.1% in the 4th quarter. Twinbeech Capital LP now owns 16,534 shares of the transportation company’s stock valued at $188,000 after acquiring an additional 3,206 shares during the last quarter. Finally, Polymer Capital Management US LLC increased its stake in Marten Transport by 73.9% in the fourth quarter. Polymer Capital Management US LLC now owns 29,823 shares of the transportation company’s stock worth $339,000 after purchasing an additional 12,674 shares during the period. Institutional investors own 69.12% of the company’s stock.

About Marten Transport

Marten Transport, Inc is a North American transportation services provider offering temperature-controlled and dry van truckload services. Founded in 1946 and headquartered in Mondovi, Wisconsin, the company specializes in full truckload, dedicated contract carriage, intermodal and port drayage solutions. Its core focus on refrigerated and produce freight has made it a key partner for food manufacturers, retailers and other shippers requiring strict temperature management.

The company maintains a modern fleet of tractors and trailers equipped with advanced telematics, electronic logging devices and continuous temperature monitoring.