Marten Transport (NASDAQ:MRTN) Stock Price Passes Above 200 Day Moving Average of $16.33

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Marten Transport, Ltd (NASDAQ:MRTN)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $16.33 and traded as high as $16.53. Marten Transport shares last traded at $16.43, with a volume of 359,334 shares.

Several analysts recently weighed in on the stock. Loop Capital raised shares of Marten Transport from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $17.33 to $18.00 in a research note on Wednesday, June 10th. BidaskClub cut shares of Marten Transport from a “hold” rating to a “sell” rating in a research note on Saturday, September 19th. KeyCorp reduced their price objective on shares of Marten Transport from $31.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 2nd. Finally, Zacks Investment Research cut shares of Marten Transport from a “hold” rating to a “sell” rating in a research note on Saturday. Two research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $18.25.

The firm has a market cap of $1.39 billion, a P/E ratio of 21.50 and a beta of 0.97. The stock’s 50-day simple moving average is $17.63 and its 200 day simple moving average is $16.35.

Marten Transport (NASDAQ:MRTN) last issued its quarterly earnings results on Thursday, July 16th. The transportation company reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.07. Marten Transport had a net margin of 7.44% and a return on equity of 10.61%. The business had revenue of $212.38 million for the quarter, compared to analysts’ expectations of $207.80 million. Equities analysts expect that Marten Transport, Ltd will post 0.75 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.16 annualized dividend and a dividend yield of 0.95%. Marten Transport’s dividend payout ratio is currently 21.62%.

In other news, President Timothy M. Kohl sold 25,000 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $18.55, for a total transaction of $463,750.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 22.80% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Morgan Stanley grew its position in shares of Marten Transport by 133.7% during the 1st quarter. Morgan Stanley now owns 486,239 shares of the transportation company’s stock valued at $9,976,000 after acquiring an additional 278,141 shares during the period. Wellington Management Group LLP raised its position in shares of Marten Transport by 15.8% during the 1st quarter. Wellington Management Group LLP now owns 1,078,607 shares of the transportation company’s stock valued at $22,133,000 after buying an additional 147,263 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Marten Transport by 5.3% during the 1st quarter. Thrivent Financial for Lutherans now owns 32,542 shares of the transportation company’s stock valued at $668,000 after buying an additional 1,624 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Marten Transport by 48.4% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,536 shares of the transportation company’s stock valued at $401,000 after buying an additional 6,372 shares in the last quarter. Finally, M&T Bank Corp raised its position in shares of Marten Transport by 38.3% during the 1st quarter. M&T Bank Corp now owns 22,773 shares of the transportation company’s stock valued at $467,000 after buying an additional 6,308 shares in the last quarter. Hedge funds and other institutional investors own 47.45% of the company’s stock.

About Marten Transport (NASDAQ:MRTN)

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.

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