Q2 2024 EPS Estimates for Martin Marietta Materials, Inc. (NYSE:MLM) Raised by Zacks Research

Martin Marietta Materials, Inc. (NYSE:MLM) – Analysts at Zacks Research upped their Q2 2024 earnings estimates for Martin Marietta Materials in a report issued on Tuesday, May 21st. Zacks Research analyst R. Department now forecasts that the construction company will post earnings per share of $6.38 for the quarter, up from their prior estimate of $6.14. The consensus estimate for Martin Marietta Materials’ current full-year earnings is $21.88 per share. Zacks Research also issued estimates for Martin Marietta Materials’ Q3 2024 earnings at $7.94 EPS, Q4 2024 earnings at $5.27 EPS, FY2024 earnings at $21.52 EPS, Q1 2025 earnings at $2.55 EPS, Q2 2025 earnings at $7.02 EPS, Q3 2025 earnings at $8.58 EPS, Q4 2025 earnings at $5.61 EPS, FY2025 earnings at $23.75 EPS and Q1 2026 earnings at $2.77 EPS.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.05. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period last year, the business posted $2.16 earnings per share. The business’s revenue for the quarter was down 7.6% on a year-over-year basis.

A number of other brokerages also recently issued reports on MLM. Wolfe Research downgraded shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a report on Friday, March 8th. Stifel Nicolaus lifted their price objective on shares of Martin Marietta Materials from $621.00 to $650.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Truist Financial upped their target price 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. Raymond James raised their price objective on Martin Marietta Materials from $505.00 to $555.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Finally, HSBC upgraded shares of Martin Marietta Materials from a “reduce” rating to a “hold” rating and raised their target price for the stock from $376.00 to $543.00 in a report on Thursday, February 22nd. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $610.27.

Martin Marietta Materials Stock Up 0.0 %

Martin Marietta Materials stock opened at $573.34 on Wednesday. The company has a current ratio of 3.16, a quick ratio of 2.41 and a debt-to-equity ratio of 0.44. Martin Marietta Materials has a 1-year low of $389.90 and a 1-year high of $626.67. The firm has a market capitalization of $35.34 billion, a price-to-earnings ratio of 16.99, a P/E/G ratio of 2.74 and a beta of 0.95. The firm has a 50 day simple moving average of $599.09 and a 200 day simple moving average of $538.70.

Institutional Trading of Martin Marietta Materials

Large investors have recently modified their holdings of the company. Ables Iannone Moore & Associates Inc. purchased a new position in Martin Marietta Materials in the fourth quarter worth about $25,000. Pinnacle Bancorp Inc. purchased a new stake in Martin Marietta Materials in the 4th quarter worth $26,000. Riverview Trust Co bought a new position in Martin Marietta Materials during the first quarter valued at approximately $26,000. MV Capital Management Inc. grew its holdings in shares of Martin Marietta Materials by 144.4% in the third quarter. MV Capital Management Inc. now owns 66 shares of the construction company’s stock valued at $27,000 after purchasing an additional 39 shares in the last quarter. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Martin Marietta Materials in the 4th quarter worth $27,000. Institutional investors own 95.04% of the company’s stock.

Insiders Place Their Bets

In other Martin Marietta Materials news, EVP Roselyn R. Bar sold 10,000 shares of the business’s stock in a transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Martin Marietta Materials news, CEO C Howard Nye sold 15,000 shares of Martin Marietta Materials stock in a transaction that occurred on Tuesday, March 5th. The shares were 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 of the company’s stock, valued at approximately $81,357,566.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Roselyn R. Bar sold 10,000 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $603.29, for a total value of $6,032,900.00. Following the transaction, 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. Corporate insiders own 0.68% of the company’s stock.

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be paid a $0.74 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.96 annualized dividend and a dividend yield of 0.52%. Martin Marietta Materials’s payout ratio is 8.77%.

About Martin Marietta Materials

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.