Martin Marietta Materials (MLM) Set to Announce Quarterly Earnings on Tuesday

Martin Marietta Materials (NYSE:MLM) will be posting 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 that are interested in participating in the company’s earnings conference call can do so using this link.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Wednesday, February 14th. The construction company reported $4.63 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter in the previous year, the business earned $3.04 earnings per share. The company’s revenue 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 Stock Up 1.3 %

MLM stock opened at $604.99 on Friday. Martin Marietta Materials has a 1-year low of $345.03 and a 1-year high of $626.67. The business has a fifty day moving average price of $593.37 and a 200-day moving average price of $516.59. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.35 and a quick ratio of 2.50. The stock has a market capitalization of $37.34 billion, a P/E ratio of 32.13, a P/E/G ratio of 2.89 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. Stockholders of record on Monday, March 4th were paid a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Friday, March 1st. Martin Marietta Materials’s dividend payout ratio is currently 15.72%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. StockNews.com cut 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 Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Truist Financial lifted their price objective on Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Citigroup lifted their price objective on Martin Marietta Materials from $635.00 to $708.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Finally, Wolfe Research lowered Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a report on Friday, March 8th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $588.69.

Insider Buying and Selling at Martin Marietta Materials

In other Martin Marietta Materials news, Director Sue W. Cole sold 1,724 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $543.48, for a total transaction of $936,959.52. Following the completion of the sale, the director now owns 19,793 shares of the company’s stock, valued at $10,757,099.64. The transaction 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 business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $543.48, for a total transaction of $936,959.52. Following the completion of the sale, the director now owns 19,793 shares of the company’s stock, valued at $10,757,099.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO C Howard Nye sold 15,000 shares of the business’s stock in a transaction dated 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 sale, 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. Over the last quarter, insiders sold 26,724 shares of company stock valued at $16,033,760. Company insiders own 0.61% of the company’s stock.

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.