Martin Marietta Materials (NYSE:MLM – Get Free Report) issued its quarterly earnings data on Tuesday. The construction company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.05, Briefing.com reports. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the company posted $2.16 earnings per share. The business’s quarterly revenue was down 7.6% compared to the same quarter last year. Martin Marietta Materials updated its FY 2024 guidance to EPS.
Martin Marietta Materials Stock Down 0.4 %
Shares of NYSE MLM opened at $588.37 on Thursday. Martin Marietta Materials has a 52-week low of $366.64 and a 52-week high of $626.67. The firm has a fifty day moving average of $596.80 and a 200-day moving average of $520.00. The stock has a market capitalization of $36.31 billion, a PE ratio of 17.51, a P/E/G ratio of 2.84 and a beta of 0.95. The company has a quick ratio of 2.50, a current ratio of 3.16 and a debt-to-equity ratio of 0.44.
Martin Marietta Materials Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 4th were paid a dividend of $0.74 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.96 annualized dividend and a dividend yield of 0.50%. Martin Marietta Materials’s dividend payout ratio is presently 8.77%.
Insider Activity
Analyst Ratings Changes
A number of equities analysts recently issued reports on MLM shares. Wolfe Research lowered Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a report on Friday, March 8th. The Goldman Sachs Group raised their price target on Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Citigroup lifted their price objective on Martin Marietta Materials from $635.00 to $708.00 and gave the company a “buy” rating in a report on Friday, April 5th. Raymond James lifted their price objective on Martin Marietta Materials from $505.00 to $555.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, Truist Financial lifted their price target on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Martin Marietta Materials has an average rating of “Moderate Buy” and an average price target of $588.69.
Read Our Latest Stock Report on MLM
Martin Marietta Materials Company Profile
Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; 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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