Q2 2024 Earnings Estimate for Martin Marietta Materials, Inc. Issued By Seaport Res Ptn (NYSE:MLM)

Martin Marietta Materials, Inc. (NYSE:MLM) – Investment analysts at Seaport Res Ptn cut their Q2 2024 earnings per share estimates for Martin Marietta Materials in a research note issued on Monday, August 5th. Seaport Res Ptn analyst R. Seth now anticipates that the construction company will post earnings per share of $5.18 for the quarter, down from their previous estimate of $5.54. The consensus estimate for Martin Marietta Materials’ current full-year earnings is $22.86 per share. Seaport Res Ptn also issued estimates for Martin Marietta Materials’ Q3 2024 earnings at $7.48 EPS, FY2024 earnings at $20.31 EPS, FY2025 earnings at $23.26 EPS and FY2026 earnings at $26.60 EPS.

Several other brokerages have also recently weighed in on MLM. Loop Capital reduced their price target on Martin Marietta Materials from $710.00 to $630.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. The Goldman Sachs Group boosted their price objective on Martin Marietta Materials from $642.00 to $737.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Jefferies Financial Group boosted their price objective on Martin Marietta Materials from $660.00 to $665.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Citigroup cut their price objective on Martin Marietta Materials from $696.00 to $658.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Finally, StockNews.com cut Martin Marietta Materials from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $628.91.

Martin Marietta Materials Stock Down 1.2 %

Shares of MLM stock opened at $538.29 on Tuesday. The stock has a 50 day moving average of $554.20 and a 200 day moving average of $568.52. The company has a current ratio of 3.16, a quick ratio of 2.41 and a debt-to-equity ratio of 0.44. The stock has a market cap of $33.18 billion, a P/E ratio of 15.95, a P/E/G ratio of 3.12 and a beta of 0.91. Martin Marietta Materials has a twelve month low of $389.90 and a twelve month high of $626.67.

Martin Marietta Materials Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Monday, June 3rd. Martin Marietta Materials’s dividend payout ratio is presently 8.77%.

Institutional Trading of Martin Marietta Materials

A number of institutional investors have recently made changes to their positions in MLM. Norges Bank acquired a new stake in shares of Martin Marietta Materials in the fourth quarter worth approximately $308,705,000. Price T Rowe Associates Inc. MD boosted its stake in Martin Marietta Materials by 114.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock worth $602,092,000 after buying an additional 523,038 shares during the last quarter. Balyasny Asset Management L.P. boosted its stake in Martin Marietta Materials by 4,244.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 277,182 shares of the construction company’s stock worth $138,289,000 after buying an additional 270,802 shares during the last quarter. Corient Private Wealth LLC boosted its stake in Martin Marietta Materials by 306.8% during the fourth quarter. Corient Private Wealth LLC now owns 161,690 shares of the construction company’s stock worth $80,668,000 after buying an additional 121,941 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in Martin Marietta Materials by 96.6% during the fourth quarter. Jennison Associates LLC now owns 157,904 shares of the construction company’s stock worth $78,780,000 after buying an additional 77,596 shares during the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

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.