Martin Marietta Materials, Inc. Expected to Earn Q4 2024 Earnings of $5.81 Per Share (NYSE:MLM)

Martin Marietta Materials, Inc. (NYSE:MLM) – Analysts at Seaport Res Ptn boosted their Q4 2024 earnings per share (EPS) estimates for Martin Marietta Materials in a report issued on Wednesday, June 12th. Seaport Res Ptn analyst R. Seth now anticipates that the construction company will post earnings of $5.81 per share for the quarter, up from their previous forecast of $5.46. The consensus estimate for Martin Marietta Materials’ current full-year earnings is $23.38 per share.

A number of other brokerages also recently commented on MLM. Truist Financial lifted their target price on Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. The Goldman Sachs Group boosted their price objective on Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Stephens boosted their price objective on Martin Marietta Materials from $575.00 to $605.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Wolfe Research downgraded Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research report on Friday, March 8th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $600.00 price objective (up from $530.00) on shares of Martin Marietta Materials in a research report on Friday, March 22nd. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $610.27.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $556.78 on Thursday. The company has a quick ratio of 2.41, a current ratio of 3.16 and a debt-to-equity ratio of 0.44. The business has a 50 day moving average of $586.59 and a two-hundred day moving average of $549.65. Martin Marietta Materials has a 52 week low of $389.90 and a 52 week high of $626.67. The company has a market cap of $34.32 billion, a P/E ratio of 16.50, a PEG ratio of 2.42 and a beta of 0.93.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Tuesday, April 30th. The construction company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.05. 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 during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the firm posted $2.16 earnings per share. Martin Marietta Materials’s quarterly revenue was down 7.6% compared to the same quarter last year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be given a $0.74 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.96 dividend on an annualized basis and a yield of 0.53%. Martin Marietta Materials’s dividend payout ratio (DPR) is 8.77%.

Institutional Investors Weigh In On Martin Marietta Materials

Institutional investors have recently added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. acquired a new stake in Martin Marietta Materials in the fourth quarter worth approximately $25,000. Pinnacle Bancorp Inc. bought a new position in shares of Martin Marietta Materials in the fourth quarter valued at $26,000. Riverview Trust Co bought a new position in shares of Martin Marietta Materials in the first quarter valued at $26,000. Exchange Traded Concepts LLC bought a new position in shares of Martin Marietta Materials in the fourth quarter valued at $27,000. Finally, Benjamin Edwards Inc. increased its holdings in shares of Martin Marietta Materials by 78.8% in the fourth quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock valued at $29,000 after buying an additional 26 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

About Martin Marietta Materials

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.