Marten Transport, Ltd. (NASDAQ:MRTN – Get Free Report) declared a quarterly dividend on Tuesday, May 7th, Zacks reports. Investors 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 yield of 1.36%. The ex-dividend date of this dividend is Friday, June 14th.
Marten Transport has raised its dividend payment by an average of 21.6% annually over the last three years. Marten Transport has a dividend payout ratio of 23.5% indicating that its dividend is sufficiently covered by earnings.
Marten Transport Stock Performance
Marten Transport stock traded up $0.06 during trading hours on Thursday, hitting $17.68. 79,878 shares of the stock were exchanged, compared to its average volume of 460,140. The stock has a market capitalization of $1.44 billion, a P/E ratio of 24.93 and a beta of 0.79. The business’s 50-day moving average is $17.78 and its two-hundred day moving average is $18.77. Marten Transport has a 12 month low of $15.33 and a 12 month high of $23.38.
Analysts Set New Price Targets
A number of brokerages have weighed in on MRTN. Vertical Research raised shares of Marten Transport from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Wednesday, January 10th. Stephens dropped their price objective on shares of Marten Transport from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Friday, April 19th.
Get Our Latest Analysis on Marten Transport
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.
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