Marten Transport (NASDAQ:MRTN) Reaches New 52-Week Low – Here’s What Happened

Marten Transport, Ltd. (NASDAQ:MRTN)’s stock price reached a new 52-week low during trading on Tuesday . The stock traded as low as $11.56 and last traded at $11.58, with a volume of 144620 shares traded. The stock had previously closed at $11.84.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Marten Transport from a “hold” rating to a “sell” rating in a research note on Saturday. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

Marten Transport Stock Down 2.0%

The business’s fifty day moving average price is $12.62 and its 200 day moving average price is $13.21. The firm has a market capitalization of $946.37 million, a PE ratio of 44.65 and a beta of 0.99.

Marten Transport (NASDAQ:MRTN) last issued its quarterly earnings results on Wednesday, July 16th. The transportation company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. Marten Transport had a net margin of 2.27% and a return on equity of 2.72%. The business had revenue of $229.92 million for the quarter, compared to analyst estimates of $231.09 million. During the same period in the previous year, the business posted $0.10 earnings per share. The business’s revenue was down 6.6% compared to the same quarter last year. On average, analysts anticipate that Marten Transport, Ltd. will post 0.41 earnings per share for the current year.

Marten Transport Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.24 dividend on an annualized basis and a yield of 2.1%. Marten Transport’s dividend payout ratio (DPR) is currently 92.31%.

Hedge Funds Weigh In On Marten Transport

A number of hedge funds have recently made changes to their positions in the business. Hantz Financial Services Inc. bought a new stake in shares of Marten Transport in the 2nd quarter worth about $35,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Marten Transport during the 2nd quarter valued at $39,000. Parallel Advisors LLC boosted its position in shares of Marten Transport by 410.4% in the second quarter. Parallel Advisors LLC now owns 4,634 shares of the transportation company’s stock worth $60,000 after buying an additional 3,726 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Marten Transport by 378.7% in the second quarter. Tower Research Capital LLC TRC now owns 5,610 shares of the transportation company’s stock worth $73,000 after buying an additional 4,438 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in shares of Marten Transport in the second quarter worth $96,000. Hedge funds and other 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.