Marten Transport, Ltd. (NASDAQ:MRTN) Announces Quarterly Dividend of $0.06

Marten Transport, Ltd. (NASDAQ:MRTN) announced a quarterly dividend on Friday, November 29th,Wall Street Journal reports. Shareholders of record on Friday, December 13th will be given a dividend of 0.06 per share by the transportation company on Friday, December 27th. This represents a $0.24 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Friday, December 13th.

Marten Transport has raised its dividend by an average of 21.6% per year over the last three years. Marten Transport has a payout ratio of 47.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Marten Transport to earn $0.47 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 51.1%.

Marten Transport Stock Performance

MRTN opened at $17.38 on Friday. The business’s fifty day moving average is $16.83 and its two-hundred day moving average is $17.36. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 41.38 and a beta of 0.79. Marten Transport has a one year low of $15.33 and a one year high of $21.38.

Marten Transport (NASDAQ:MRTN) last posted its earnings results on Thursday, October 17th. The transportation company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The firm had revenue of $237.37 million for the quarter, compared to analysts’ expectations of $244.00 million. Marten Transport had a return on equity of 4.41% and a net margin of 3.36%. On average, analysts predict that Marten Transport will post 0.32 EPS for the current fiscal year.

Analysts Set New Price Targets

MRTN has been the subject of a number of analyst reports. StockNews.com cut Marten Transport from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Raymond James cut Marten Transport from an “outperform” rating to a “market perform” rating in a report on Monday, October 14th.

Insider Transactions at Marten Transport

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