Martin Marietta Materials (NYSE:MLM) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Martin Marietta Materials (NYSE:MLM) released its quarterly earnings data on Tuesday. The construction company reported $1.93 EPS for the quarter, beating 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 analysts’ expectations of $1.31 billion. During the same period last year, the firm posted $2.16 earnings per share. Martin Marietta Materials’s 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 %

NYSE MLM opened at $588.37 on Thursday. The stock’s 50-day moving average price is $596.80 and its 200-day moving average price is $520.00. 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 has a 52 week low of $366.64 and a 52 week high of $626.67. The company has a market capitalization of $36.31 billion, a P/E ratio of 17.51, a price-to-earnings-growth ratio of 2.84 and a beta of 0.95.

Martin Marietta Materials Dividend Announcement

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 $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Friday, March 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 8.77%.

Analysts Set New Price Targets

MLM has been the topic of several recent analyst reports. Raymond James increased their price objective on Martin Marietta Materials from $505.00 to $555.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Stephens increased their target price on Martin Marietta Materials from $575.00 to $605.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Truist Financial increased their target price on Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Stifel Nicolaus increased their target price on Martin Marietta Materials from $621.00 to $650.00 and gave the company a “buy” rating in a report on Monday, April 15th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $600.00 target price (up previously from $530.00) on shares of Martin Marietta Materials in a report on Friday, March 22nd. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $588.69.

Insider Transactions at Martin Marietta Materials

In related news, EVP Roselyn R. Bar sold 10,000 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $603.29, for a total transaction of $6,032,900.00. Following the completion of the sale, the executive vice president now owns 59,970 shares in the company, valued at $36,179,301.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Sue W. Cole sold 1,724 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $543.48, for a total transaction of $936,959.52. Following the completion of the sale, the director now directly owns 19,793 shares of the company’s stock, valued at approximately $10,757,099.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Roselyn R. Bar sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $603.29, for a total value of $6,032,900.00. Following the sale, the executive vice president now directly owns 59,970 shares of the company’s stock, valued at $36,179,301.30. The disclosure for this sale can be found here. Insiders have sold 26,724 shares of company stock valued at $16,033,760 over the last quarter. 0.61% of the stock is currently owned by company insiders.

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.