Martin Marietta Materials, Inc. (NYSE:MLM) announced a quarterly dividend on Thursday, August 23rd, RTT News reports. Shareholders of record on Tuesday, September 4th will be paid a dividend of 0.48 per share by the construction company on Friday, September 28th. This represents a $1.92 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Friday, August 31st. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.44.
Martin Marietta Materials has increased its dividend payment by an average of 2.4% per year over the last three years. Martin Marietta Materials has a dividend payout ratio of 20.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Martin Marietta Materials to earn $11.16 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 17.2%.
Shares of Martin Marietta Materials stock opened at $206.94 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.05 and a quick ratio of 1.14. Martin Marietta Materials has a 1-year low of $189.26 and a 1-year high of $241.33. The stock has a market cap of $13.12 billion, a price-to-earnings ratio of 28.82, a price-to-earnings-growth ratio of 1.56 and a beta of 1.08.
Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Thursday, July 26th. The construction company reported $3.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.80 by $0.45. Martin Marietta Materials had a return on equity of 10.52% and a net margin of 17.82%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period last year, the business posted $2.27 EPS. The business’s revenue was up 13.1% compared to the same quarter last year. sell-side analysts forecast that Martin Marietta Materials will post 9.37 earnings per share for the current year.
A number of analysts have weighed in on the company. Citigroup decreased their price target on Martin Marietta Materials from $262.00 to $250.00 and set a “buy” rating for the company in a report on Monday, July 30th. ValuEngine upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Tuesday, May 8th. Stephens restated a “hold” rating and issued a $233.00 target price on shares of Martin Marietta Materials in a research note on Wednesday, August 1st. Stifel Nicolaus raised their target price on Martin Marietta Materials from $256.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, July 27th. Finally, SunTrust Banks reduced their target price on Martin Marietta Materials to $226.00 and set a “buy” rating for the company in a research note on Thursday, May 3rd. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Martin Marietta Materials presently has an average rating of “Buy” and an average price target of $241.22.
In other Martin Marietta Materials news, Director John J. Koraleski purchased 2,400 shares of the company’s stock in a transaction that occurred on Friday, July 27th. The shares were acquired at an average price of $208.06 per share, with a total value of $499,344.00. Following the transaction, the director now owns 4,750 shares in the company, valued at $988,285. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Donald A. Mccunniff sold 4,226 shares of the firm’s stock in a transaction dated Wednesday, June 13th. The shares were sold at an average price of $230.72, for a total transaction of $975,022.72. Following the completion of the transaction, the senior vice president now directly owns 14,899 shares in the company, valued at approximately $3,437,497.28. The disclosure for this sale can be found here. Company insiders own 0.75% of the company’s stock.
Martin Marietta Materials Company Profile
Martin Marietta Materials, Inc, a natural-resource-based building materials company, supplies aggregates and heavy building materials to the construction industry in the United States and internationally. The company provides crushed stone, sand, and gravel products; ready mixed concrete, and asphalt and paving products; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.
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