Marten Transport, Ltd. (NASDAQ:MRTN – Get Free Report) announced a quarterly dividend on Wednesday, August 14th, Zacks reports. Investors of record on Monday, September 16th will be paid a dividend of 0.06 per share by the transportation company on Monday, September 30th. This represents a $0.24 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Monday, September 16th.
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 30.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Marten Transport to earn $0.92 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 26.1%.
Marten Transport Price Performance
Shares of Marten Transport stock traded down $0.01 during trading hours on Friday, hitting $17.27. The company’s stock had a trading volume of 11,008 shares, compared to its average volume of 438,961. Marten Transport has a 12 month low of $15.33 and a 12 month high of $21.92. The company has a market capitalization of $1.41 billion, a PE ratio of 24.34 and a beta of 0.77. The stock has a 50 day moving average of $17.77 and a 200 day moving average of $18.02.
Analysts Set New Price Targets
Several research firms have recently commented on MRTN. StockNews.com raised Marten Transport from a “sell” rating to a “hold” rating in a research report on Tuesday. Stephens lowered their price target on Marten Transport from $23.00 to $21.00 and set an “overweight” rating for the company in a report on Friday, April 19th. Raymond James began coverage on Marten Transport in a research report on Wednesday, May 15th. They set an “outperform” rating and a $20.00 price objective for the company. Finally, Vertical Research cut Marten Transport from a “buy” rating to a “hold” rating and decreased their target price for the company from $22.00 to $19.00 in a research report on Tuesday, July 9th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $20.00.
Read Our Latest Research Report on MRTN
Insiders Place Their Bets
In other news, COO Adam Daniel Phillips sold 4,500 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $18.34, for a total value of $82,530.00. Following the completion of the transaction, the chief operating officer now directly owns 7,448 shares in the company, valued at approximately $136,596.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 22.90% of the company’s stock.
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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