Marten Transport (NASDAQ:MRTN) Sets New 52-Week High – Should You Buy?

Marten Transport, Ltd. (NASDAQ:MRTN)’s stock price reached a new 52-week high on Friday . The company traded as high as $18.00 and last traded at $17.85, with a volume of 284043 shares. The stock had previously closed at $17.76.

Analyst Ratings Changes

MRTN has been the topic of a number of research reports. Stephens lowered shares of Marten Transport from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Robert W. Baird raised shares of Marten Transport to a “strong-buy” rating in a report on Wednesday, April 1st. Zacks Research raised shares of Marten Transport from a “strong sell” rating to a “hold” rating in a report on Friday, March 13th. Finally, Weiss Ratings raised shares of Marten Transport from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, April 2nd. One investment analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Marten Transport currently has a consensus rating of “Moderate Buy”.

Marten Transport Price Performance

The stock’s fifty day moving average is $15.09 and its 200-day moving average is $13.17. The stock has a market capitalization of $1.46 billion, a PE ratio of 94.03 and a beta of 0.93.

Marten Transport (NASDAQ:MRTN) last announced its quarterly earnings results on Thursday, April 23rd. The transportation company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). Marten Transport had a return on equity of 1.89% and a net margin of 1.68%.The firm had revenue of $203.53 million for the quarter, compared to analysts’ expectations of $207.20 million. During the same period last year, the company posted $0.05 earnings per share. The business’s quarterly revenue was down 8.8% on a year-over-year basis. On average, analysts forecast that Marten Transport, Ltd. will post 0.22 EPS for the current year.

Marten Transport Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, June 16th. Marten Transport’s dividend payout ratio (DPR) is presently 126.32%.

Hedge Funds Weigh In On Marten Transport

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MRTN. Global Retirement Partners LLC lifted its holdings in Marten Transport by 2,083.8% during the fourth quarter. Global Retirement Partners LLC now owns 2,555 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 2,438 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Marten Transport by 660.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,929 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 2,544 shares in the last quarter. CIBC Private Wealth Group LLC purchased a new position in Marten Transport during the third quarter valued at $40,000. Atlantic Union Bankshares Corp purchased a new position in Marten Transport during the third quarter valued at $43,000. Finally, Farther Finance Advisors LLC lifted its holdings in Marten Transport by 3,553.8% during the fourth quarter. Farther Finance Advisors LLC now owns 3,873 shares of the transportation company’s stock valued at $44,000 after purchasing an additional 3,767 shares in the last quarter. 69.12% of the stock is owned by hedge funds and other institutional investors.

Marten Transport Company Profile

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.