Martin Marietta Materials, Inc. (NYSE:MLM) announced a quarterly dividend on Friday, November 17th, Wall Street Journal reports. Shareholders of record on Friday, December 1st will be paid a dividend of 0.44 per share by the construction company on Friday, December 29th. This represents a $1.76 annualized dividend and a yield of 0.85%. The ex-dividend date is Thursday, November 30th.
Martin Marietta Materials has decreased its dividend payment by an average of 8.6% annually over the last three years. Martin Marietta Materials has a dividend payout ratio of 25.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Martin Marietta Materials to earn $8.70 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 20.2%.
Shares of Martin Marietta Materials (MLM) opened at $207.72 on Friday. The company has a current ratio of 2.73, a quick ratio of 1.50 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $13,210.00, a price-to-earnings ratio of 30.93, a price-to-earnings-growth ratio of 2.21 and a beta of 1.14. Martin Marietta Materials has a 52-week low of $191.09 and a 52-week high of $244.32.
Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Thursday, November 2nd. The construction company reported $2.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($0.06). The company had revenue of $1.02 million for the quarter, compared to the consensus estimate of $1.07 billion. Martin Marietta Materials had a net margin of 11.03% and a return on equity of 10.39%. The firm’s revenue was down 1.5% compared to the same quarter last year. During the same period last year, the business posted $2.49 EPS. equities research analysts forecast that Martin Marietta Materials will post 6.92 earnings per share for the current fiscal year.
Several analysts have issued reports on MLM shares. Zacks Investment Research raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Monday, September 4th. Bank of America Corporation lowered their price objective on Martin Marietta Materials from $233.00 to $229.00 and set a “neutral” rating for the company in a research report on Thursday, October 19th. Jefferies Group LLC reissued a “buy” rating and issued a $240.00 price objective on shares of Martin Marietta Materials in a research report on Wednesday, October 11th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $228.00 price objective on shares of Martin Marietta Materials in a research report on Friday, October 27th. Finally, DA Davidson reissued a “hold” rating and issued a $225.00 price objective on shares of Martin Marietta Materials in a research report on Friday, November 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. Martin Marietta Materials currently has an average rating of “Hold” and an average price target of $242.43.
Martin Marietta Materials Company Profile
Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.
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