Martin Marietta Materials, Inc. to Post Q1 2024 Earnings of $1.87 Per Share, Seaport Res Ptn Forecasts (NYSE:MLM)

Martin Marietta Materials, Inc. (NYSE:MLM) – Equities researchers at Seaport Res Ptn upped their Q1 2024 earnings per share estimates for Martin Marietta Materials in a report released on Thursday, April 25th. Seaport Res Ptn analyst R. Seth now forecasts that the construction company will post earnings of $1.87 per share for the quarter, up from their previous estimate of $1.56. The consensus estimate for Martin Marietta Materials’ current full-year earnings is $21.30 per share. Seaport Res Ptn also issued estimates for Martin Marietta Materials’ Q1 2025 earnings at $2.40 EPS, Q2 2025 earnings at $7.31 EPS, Q4 2025 earnings at $6.06 EPS, FY2025 earnings at $24.91 EPS and FY2026 earnings at $28.22 EPS.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Wednesday, February 14th. The construction company reported $4.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.96 by $0.67. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.62 billion. Martin Marietta Materials had a return on equity of 15.77% and a net margin of 17.25%. The business’s revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the firm posted $3.04 earnings per share.

MLM has been the subject of a number of other research reports. Truist Financial increased their target price on Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Citigroup increased their target price on Martin Marietta Materials from $635.00 to $708.00 and gave the company a “buy” rating in a report on Friday, April 5th. HSBC upgraded Martin Marietta Materials from a “reduce” rating to a “hold” rating and increased their target price for the company from $376.00 to $543.00 in a report on Thursday, February 22nd. Stifel Nicolaus increased their target price on Martin Marietta Materials from $621.00 to $650.00 and gave the company a “buy” rating in a report on Monday, April 15th. Finally, Stephens upped their price target on shares of Martin Marietta Materials from $575.00 to $605.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $588.69.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $604.99 on Monday. Martin Marietta Materials has a one year low of $345.03 and a one year high of $626.67. The stock has a fifty day moving average of $593.37 and a 200-day moving average of $517.16. The company has a market capitalization of $37.34 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 2.93 and a beta of 0.96. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.50 and a current ratio of 3.35.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 4th were given 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 dividend yield of 0.49%. Martin Marietta Materials’s dividend payout ratio is 15.72%.

Insider Transactions at Martin Marietta Materials

In other news, Director Sue W. Cole sold 1,724 shares of Martin Marietta Materials stock in a transaction on Friday, February 16th. The shares were sold at an average price of $543.48, for a total transaction of $936,959.52. Following the transaction, the director now directly owns 19,793 shares of the company’s stock, valued at $10,757,099.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Martin Marietta Materials news, 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 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 approximately $81,357,566.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 sale, the director now directly owns 19,793 shares in the company, valued at $10,757,099.64. The disclosure for this sale can be found here. Insiders have sold a total of 26,724 shares of company stock valued at $16,033,760 over the last three months. 0.61% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Schear Investment Advisers LLC increased its stake in shares of Martin Marietta Materials by 1.2% during the 4th quarter. Schear Investment Advisers LLC now owns 1,647 shares of the construction company’s stock worth $822,000 after purchasing an additional 20 shares during the last quarter. Parallel Advisors LLC grew its stake in Martin Marietta Materials by 1.8% in the 4th quarter. Parallel Advisors LLC now owns 1,170 shares of the construction company’s stock valued at $584,000 after buying an additional 21 shares during the last quarter. Independence Bank of Kentucky grew its stake in Martin Marietta Materials by 16.9% in the 4th quarter. Independence Bank of Kentucky now owns 152 shares of the construction company’s stock valued at $76,000 after buying an additional 22 shares during the last quarter. Global Retirement Partners LLC grew its stake in Martin Marietta Materials by 5.0% in the 4th quarter. Global Retirement Partners LLC now owns 460 shares of the construction company’s stock valued at $228,000 after buying an additional 22 shares during the last quarter. Finally, Spire Wealth Management grew its stake in Martin Marietta Materials by 2.8% in the 1st quarter. Spire Wealth Management now owns 810 shares of the construction company’s stock valued at $497,000 after buying an additional 22 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

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.