Marten Transport, Ltd. (NASDAQ:MRTN – Get Free Report) declared a quarterly dividend on Wednesday, August 14th, Zacks reports. Shareholders of record on Monday, September 16th will be given 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 is Monday, September 16th.
Marten Transport has increased its dividend by an average of 21.6% per year over the last three years. Marten Transport has a payout ratio of 30.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Marten Transport to earn $0.84 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 28.6%.
Marten Transport Price Performance
NASDAQ:MRTN opened at $17.23 on Friday. The business’s 50-day simple moving average is $17.52 and its 200-day simple moving average is $17.71. Marten Transport has a fifty-two week low of $15.33 and a fifty-two week high of $21.38. The stock has a market capitalization of $1.40 billion, a PE ratio of 24.27 and a beta of 0.77.
Analysts Set New Price Targets
Several analysts have issued reports on the company. StockNews.com raised Marten Transport from a “sell” rating to a “hold” rating in a research note on Tuesday, August 13th. Vertical Research downgraded Marten Transport from a “buy” rating to a “hold” rating and reduced their price target for the stock 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.00.
Get Our Latest Analysis on Marten Transport
Insider Activity at Marten Transport
In other news, COO Adam Daniel Phillips sold 4,500 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $18.34, for a total transaction of $82,530.00. Following the sale, the chief operating officer now owns 7,448 shares in the company, valued at approximately $136,596.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 22.90% of the company’s stock.
Marten Transport Company Profile
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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