Martin Marietta Materials, Inc. (NYSE:MLM) to Issue Quarterly Dividend of $0.61

Martin Marietta Materials, Inc. (NYSE:MLMGet Rating) declared a quarterly dividend on Thursday, May 12th, RTT News reports. Investors of record on Wednesday, June 1st will be paid a dividend of 0.61 per share by the construction company on Thursday, June 30th. This represents a $2.44 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Tuesday, May 31st.

Martin Marietta Materials has increased its dividend by an average of 8.7% annually over the last three years and has raised its dividend every year for the last 6 years. Martin Marietta Materials has a payout ratio of 14.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Martin Marietta Materials to earn $16.98 per share next year, which means the company should continue to be able to cover its $2.44 annual dividend with an expected future payout ratio of 14.4%.

Shares of NYSE:MLM opened at $349.45 on Friday. The stock has a market cap of $21.80 billion, a price-to-earnings ratio of 33.22, a PEG ratio of 1.56 and a beta of 0.79. The company has a quick ratio of 1.69, a current ratio of 2.79 and a debt-to-equity ratio of 0.79. Martin Marietta Materials has a 12-month low of $316.73 and a 12-month high of $446.46. The business’s 50 day moving average is $359.36 and its 200 day moving average is $387.65.

Martin Marietta Materials (NYSE:MLMGet Rating) last announced its earnings results on Tuesday, May 3rd. The construction company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.32). Martin Marietta Materials had a net margin of 11.63% and a return on equity of 11.42%. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the firm earned $1.04 EPS. The firm’s quarterly revenue was up 25.3% on a year-over-year basis. As a group, equities research analysts expect that Martin Marietta Materials will post 13.31 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in MLM. Marshall Wace LLP bought a new stake in shares of Martin Marietta Materials during the 4th quarter valued at $32,000. KB Financial Partners LLC bought a new position in Martin Marietta Materials in the 4th quarter worth about $40,000. Fairfield Bush & CO. bought a new position in Martin Marietta Materials in the 1st quarter worth about $46,000. Stonebridge Capital Advisors LLC bought a new position in Martin Marietta Materials in the 1st quarter worth about $54,000. Finally, NEXT Financial Group Inc increased its stake in Martin Marietta Materials by 15.0% in the 4th quarter. NEXT Financial Group Inc now owns 230 shares of the construction company’s stock worth $101,000 after acquiring an additional 30 shares during the last quarter. Institutional investors own 93.49% of the company’s stock.

Several research analysts have weighed in on the company. Zacks Investment Research raised Martin Marietta Materials from a “sell” rating to a “hold” rating and set a $396.00 price objective on the stock in a research report on Thursday, May 5th. TheStreet cut Martin Marietta Materials from a “b” rating to a “c+” rating in a research report on Tuesday, May 10th. Barclays cut their price objective on Martin Marietta Materials from $485.00 to $450.00 and set an “overweight” rating on the stock in a research report on Friday, February 11th. DA Davidson cut their price objective on Martin Marietta Materials from $465.00 to $450.00 in a research report on Monday, February 14th. Finally, StockNews.com cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Thursday, May 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $444.40.

Martin Marietta Materials Company Profile (Get Rating)

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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Dividend History for Martin Marietta Materials (NYSE:MLM)

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