Marten Transport (NASDAQ:MRTN) Shares Down 4.1% – Here’s Why

Marten Transport, Ltd. (NASDAQ:MRTN)’s stock price fell 4.1% during mid-day trading on Tuesday . The company traded as low as $15.73 and last traded at $15.63. 63,776 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 417,131 shares. The stock had previously closed at $16.30.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MRTN shares. StockNews.com lowered shares of Marten Transport from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Stephens lifted their price target on Marten Transport from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Raymond James lowered Marten Transport from an “outperform” rating to a “market perform” rating in a report on Monday, October 14th.

Marten Transport Stock Performance

The stock’s 50 day moving average is $16.33 and its two-hundred day moving average is $16.90. The stock has a market capitalization of $1.27 billion, a PE ratio of 37.14 and a beta of 0.83.

Marten Transport (NASDAQ:MRTN) last issued its quarterly earnings data on Monday, January 27th. The transportation company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. Marten Transport had a return on equity of 4.41% and a net margin of 3.36%. Equities research analysts expect that Marten Transport, Ltd. will post 0.32 EPS for the current fiscal year.

Marten Transport Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date was Friday, December 13th. Marten Transport’s dividend payout ratio (DPR) is currently 57.14%.

Insider Activity

In related news, Director Jerry M. Bauer bought 10,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average cost of $15.81 per share, for a total transaction of $158,100.00. Following the completion of the acquisition, the director now owns 156,444 shares in the company, valued at $2,473,379.64. This trade represents a 6.83 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 22.90% of the company’s stock.

Institutional Trading of Marten Transport

Several large investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board acquired a new stake in shares of Marten Transport in the second quarter valued at about $28,000. Independence Bank of Kentucky acquired a new position in Marten Transport in the 4th quarter worth $40,000. KBC Group NV boosted its position in Marten Transport by 54.6% in the 3rd quarter. KBC Group NV now owns 3,376 shares of the transportation company’s stock valued at $60,000 after buying an additional 1,192 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Marten Transport by 24.3% during the third quarter. Nisa Investment Advisors LLC now owns 6,587 shares of the transportation company’s stock valued at $117,000 after acquiring an additional 1,289 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of Marten Transport during the third quarter worth about $181,000. 69.12% of the stock is currently owned by institutional investors and hedge funds.

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.