Marten Transport, Ltd. (MRTN) To Go Ex-Dividend on June 14th

Marten Transport, Ltd. (NASDAQ:MRTN) announced a quarterly dividend on Tuesday, May 7th, Zacks reports. Stockholders of record on Friday, June 14th will be paid a dividend of 0.06 per share by the transportation company on Friday, June 28th. This represents a $0.24 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Friday, June 14th.

Marten Transport has increased its dividend payment by an average of 21.6% per year over the last three years. Marten Transport has a dividend payout ratio of 23.5% meaning its dividend is sufficiently covered by earnings.

Marten Transport Trading Up 0.5 %

Shares of NASDAQ MRTN traded up $0.09 during trading hours on Thursday, reaching $17.71. The stock had a trading volume of 100,820 shares, compared to its average volume of 460,305. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 24.93 and a beta of 0.79. Marten Transport has a fifty-two week low of $15.33 and a fifty-two week high of $23.38. The firm has a 50-day moving average of $17.78 and a 200-day moving average of $18.77.

Marten Transport (NASDAQ:MRTN) last posted its quarterly earnings results on Thursday, April 18th. The transportation company reported $0.12 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.12. Marten Transport had a net margin of 5.31% and a return on equity of 7.65%. The firm had revenue of $249.67 million during the quarter, compared to analysts’ expectations of $262.77 million. During the same period in the prior year, the company posted $0.28 earnings per share. The firm’s revenue for the quarter was down 16.2% on a year-over-year basis.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Vertical Research raised Marten Transport from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Wednesday, January 10th. Stephens decreased their price objective on shares of Marten Transport from $23.00 to $21.00 and set an “overweight” rating on the stock in a report on Friday, April 19th.

About Marten Transport

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.