Marten Transport (NASDAQ:MRTN) Issues Earnings Results, Misses Estimates By $0.01 EPS

Marten Transport (NASDAQ:MRTN) announced its quarterly earnings data on Thursday. The transportation company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.01), FiscalAI reports. Marten Transport had a net margin of 1.68% and a return on equity of 1.89%. The firm had revenue of $223.54 million for the quarter, compared to the consensus estimate of $227.10 million.

Marten Transport Stock Down 2.5%

MRTN traded down $0.44 during midday trading on Thursday, hitting $16.88. 919,138 shares of the company traded hands, compared to its average volume of 842,502. The company’s 50-day moving average is $17.23 and its 200 day moving average is $14.72. 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 52 week low of $9.35 and a 52 week high of $18.48.

Marten Transport Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were given a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $0.24 dividend on an annualized basis and a yield of 1.4%. Marten Transport’s payout ratio is 126.32%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Marten Transport

Several institutional investors have recently made changes to their positions in the business. Global Retirement Partners LLC increased its holdings in Marten Transport by 2,083.8% in the 4th quarter. Global Retirement Partners LLC now owns 2,555 shares of the transportation company’s stock worth $29,000 after acquiring an additional 2,438 shares in the last quarter. CIBC Private Wealth Group LLC purchased a new position in shares of Marten Transport in the third quarter valued at $40,000. Tower Research Capital LLC TRC increased its holdings in shares of Marten Transport by 378.7% in the 2nd 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 last quarter. Quantbot Technologies LP purchased a new stake in Marten Transport during the second quarter valued at approximately $96,000. Finally, Quadrant Capital Group LLC increased its position in Marten Transport by 562.8% during the fourth quarter. Quadrant Capital Group LLC now owns 9,067 shares of the transportation company’s stock valued at $103,000 after acquiring an additional 7,699 shares during the last quarter. 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.