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

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

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, February 14th. The construction company reported $4.63 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.62 billion. During the same period in the previous year, the business earned $3.04 EPS. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. 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 Price Performance

Shares of NYSE MLM opened at $604.99 on Monday. Martin Marietta Materials has a twelve month low of $345.03 and a twelve month high of $626.67. The firm has a market cap of $37.34 billion, a P/E ratio of 32.13, a PEG ratio of 2.93 and a beta of 0.96. The company has a 50 day moving average of $593.37 and a 200 day moving average of $517.16. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 4th were given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Friday, March 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 15.72%.

Insiders Place Their Bets

In other Martin Marietta Materials news, CEO C Howard Nye sold 15,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $604.26, for a total value of $9,063,900.00. Following the completion of the sale, the chief executive officer now owns 134,640 shares in the company, valued at approximately $81,357,566.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Martin Marietta Materials 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 of the company’s stock, valued at approximately $36,179,301.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO C Howard Nye sold 15,000 shares of the 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 transaction, the chief executive officer now directly owns 134,640 shares of the company’s stock, valued at approximately $81,357,566.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,724 shares of company stock worth $16,033,760. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on MLM shares. Citigroup lifted 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 report on Friday, April 5th. Wolfe Research downgraded shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research report on Friday, March 8th. Stephens lifted their target price on shares of Martin Marietta Materials from $575.00 to $605.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. StockNews.com downgraded shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Finally, Truist Financial upped their price objective on Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.