Martin Marietta Materials (MLM) Scheduled to Post Earnings on Tuesday

Martin Marietta Materials (NYSE:MLM) is scheduled to announce its earnings results before the market opens on Tuesday, April 30th. Analysts expect the company to announce earnings of $1.92 per share for the quarter. Martin Marietta Materials has set its FY 2024 guidance at EPS.Investors that wish to register for the company’s conference call can do so using this link.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, February 14th. The construction company reported $4.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.96 by $0.67. Martin Marietta Materials had a net margin of 17.25% and a return on equity of 15.77%. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the previous year, the company earned $3.04 EPS. Martin Marietta Materials’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, analysts expect Martin Marietta Materials to post $21 EPS for the current fiscal year and $24 EPS for the next fiscal year.

Martin Marietta Materials Stock Up 1.3 %

Martin Marietta Materials stock opened at $604.99 on Monday. The company has a quick ratio of 2.50, a current ratio of 3.35 and a debt-to-equity ratio of 0.49. Martin Marietta Materials has a 12-month low of $345.03 and a 12-month high of $626.67. The firm’s fifty day moving average is $593.37 and its 200 day moving average is $517.16. The company has a market capitalization of $37.34 billion, a PE ratio of 32.13, a PEG ratio of 2.93 and a beta of 0.96.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders 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 dividend on an annualized basis and a yield of 0.49%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 15.72%.

Insider Activity 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 shares were sold at an average price of $603.29, for a total transaction of $6,032,900.00. Following the completion of the transaction, 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 SEC, which is available through this link. In other Martin Marietta Materials news, CEO C Howard Nye sold 15,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $604.26, for a total transaction of $9,063,900.00. Following the sale, the chief executive officer now directly owns 134,640 shares of the company’s stock, valued at $81,357,566.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Roselyn R. Bar sold 10,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $603.29, for a total transaction of $6,032,900.00. Following the sale, the executive vice president now directly owns 59,970 shares in the company, valued at $36,179,301.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,724 shares of company stock worth $16,033,760. 0.61% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. JPMorgan Chase & Co. restated a “neutral” rating and set a $600.00 price target (up previously from $530.00) on shares of Martin Marietta Materials in a research note on Friday, March 22nd. StockNews.com lowered shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. The Goldman Sachs Group boosted their price target on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Stifel Nicolaus boosted their price target on shares of Martin Marietta Materials from $621.00 to $650.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Finally, Citigroup upped their target price on shares of Martin Marietta Materials from $635.00 to $708.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $588.69.

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.