Marten Transport (NASDAQ:MRTN) Releases Earnings Results, Beats Expectations By $0.01 EPS

Marten Transport (NASDAQ:MRTN – Get Rating) issued its quarterly earnings results on Tuesday. The transportation company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01, Briefing.com reports. The business had revenue of $322.58 million during the quarter, compared to the consensus estimate of $318.20 million. Marten Transport had a net margin of 9.07% and a return on equity of 16.58%. The company’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.30 earnings per share.

Marten Transport Stock Performance

Marten Transport stock opened at $20.65 on Wednesday. Marten Transport has a 1 year low of $15.76 and a 1 year high of $23.43. The firm has a 50 day moving average price of $20.35 and a 200 day moving average price of $20.09. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 15.34 and a beta of 0.90.

Marten Transport Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 27th. Investors of record on Tuesday, December 13th were issued a $0.06 dividend. The ex-dividend date of this dividend was Monday, December 12th. This represents a $0.24 dividend on an annualized basis and a yield of 1.16%. Marten Transport’s payout ratio is 17.91%.

Institutional Investors Weigh In On Marten Transport

Institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC lifted its position in Marten Transport by 77.1% during the second quarter. Jane Street Group LLC now owns 28,925 shares of the transportation company’s stock valued at $487,000 after buying an additional 12,597 shares in the last quarter. Bank of Montreal Can lifted its position in Marten Transport by 5.2% during the first quarter. Bank of Montreal Can now owns 20,590 shares of the transportation company’s stock valued at $388,000 after buying an additional 1,014 shares in the last quarter. Graham Capital Management L.P. acquired a new position in Marten Transport during the first quarter valued at approximately $371,000. Price T Rowe Associates Inc. MD lifted its position in Marten Transport by 24.6% during the third quarter. Price T Rowe Associates Inc. MD now owns 18,011 shares of the transportation company’s stock valued at $346,000 after buying an additional 3,556 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in Marten Transport during the third quarter valued at approximately $339,000. 68.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on MRTN. StockNews.com downgraded shares of Marten Transport from a “buy” rating to a “hold” rating in a report on Thursday, January 5th. Stephens boosted their target price on shares of Marten Transport from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Tuesday, October 18th.

About Marten Transport

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Marten Transport, Ltd. operates as a temperature-sensitive truckload carrier for shippers in the United States, Canada, and Mexico. It 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.