Q1 2024 EPS Estimates for Martin Marietta Materials, Inc. Reduced by Zacks Research (NYSE:MLM)

Martin Marietta Materials, Inc. (NYSE:MLM) – Analysts at Zacks Research cut their Q1 2024 earnings per share (EPS) estimates for shares of Martin Marietta Materials in a research note issued on Monday, April 8th. Zacks Research analyst R. Department now expects that the construction company will post earnings of $2.01 per share for the quarter, down from their prior forecast of $2.10. The consensus estimate for Martin Marietta Materials’ current full-year earnings is $21.09 per share. Zacks Research also issued estimates for Martin Marietta Materials’ Q3 2024 earnings at $7.39 EPS, Q1 2025 earnings at $2.77 EPS, Q2 2025 earnings at $6.80 EPS, Q3 2025 earnings at $8.23 EPS, FY2025 earnings at $23.14 EPS, Q1 2026 earnings at $2.97 EPS and FY2026 earnings at $24.01 EPS.

Several other equities analysts have also recently issued reports on MLM. Stifel Nicolaus boosted their price target on Martin Marietta Materials from $510.00 to $598.00 and gave the company a “buy” rating in a research report on Tuesday, December 19th. HSBC raised Martin Marietta Materials from a “reduce” rating to a “hold” rating and lifted their price objective for the company from $376.00 to $543.00 in a report on Thursday, February 22nd. Citigroup lifted their price objective on Martin Marietta Materials from $635.00 to $708.00 and gave the company a “buy” rating in a report on Friday, April 5th. Morgan Stanley assumed coverage on Martin Marietta Materials in a report on Monday, January 8th. They issued an “overweight” rating and a $595.00 price objective on the stock. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $600.00 price objective (up previously from $530.00) on shares of Martin Marietta Materials in a report on Friday, March 22nd. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $577.38.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $607.08 on Wednesday. The stock has a market capitalization of $37.53 billion, a PE ratio of 32.24, a price-to-earnings-growth ratio of 3.04 and a beta of 0.96. Martin Marietta Materials has a 52-week low of $343.71 and a 52-week high of $626.67. The stock’s 50-day moving average price is $578.75 and its 200 day moving average price is $502.34. 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 (NYSE:MLM) last posted its earnings results on Wednesday, February 14th. The construction company reported $4.63 EPS for the quarter, topping analysts’ consensus estimates of $3.96 by $0.67. Martin Marietta Materials had a return on equity of 15.77% and a net margin of 17.25%. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter in the previous year, the firm earned $3.04 earnings per share. The business’s revenue was up 8.9% compared to the same quarter last year.

Martin Marietta Materials Dividend Announcement

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

Insider Buying and Selling at Martin Marietta Materials

In other 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 transaction, the executive vice president now owns 59,970 shares of the company’s stock, valued at $36,179,301.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Martin Marietta Materials news, Director Sue W. Cole sold 1,724 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $543.48, for a total value of $936,959.52. Following the sale, the director now owns 19,793 shares in the company, valued at $10,757,099.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Roselyn R. Bar sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 59,970 shares in the company, valued at approximately $36,179,301.30. The disclosure for this sale can be found here. Insiders sold a total of 26,724 shares of company stock valued at $16,033,760 in the last ninety days. Insiders own 0.59% of the company’s stock.

Institutional Trading of Martin Marietta Materials

A number of large investors have recently added to or reduced their stakes in the business. Ables Iannone Moore & Associates Inc. acquired a new position in Martin Marietta Materials in the 4th quarter worth approximately $25,000. Pinnacle Bancorp Inc. acquired a new position in Martin Marietta Materials in the 4th quarter worth approximately $26,000. Exchange Traded Concepts LLC acquired a new position in Martin Marietta Materials in the 4th quarter worth approximately $27,000. Benjamin Edwards Inc. boosted its stake in Martin Marietta Materials by 78.8% in the 4th quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock worth $29,000 after purchasing an additional 26 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group boosted its stake in Martin Marietta Materials by 74.3% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 61 shares of the construction company’s stock worth $30,000 after purchasing an additional 26 shares during the period. 95.04% of the stock is currently owned by institutional investors.

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.