Martin Marietta Materials, Inc. (MLM) To Go Ex-Dividend on December 2nd

Martin Marietta Materials, Inc. (NYSE:MLM) declared a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Investors of record on Monday, December 2nd will be given a dividend of 0.79 per share by the construction company on Tuesday, December 31st. This represents a $3.16 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date is Monday, December 2nd.

Martin Marietta Materials has raised its dividend payment by an average of 7.7% annually over the last three years. Martin Marietta Materials has a dividend payout ratio of 14.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Martin Marietta Materials to earn $20.64 per share next year, which means the company should continue to be able to cover its $3.16 annual dividend with an expected future payout ratio of 15.3%.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $600.00 on Friday. Martin Marietta Materials has a twelve month low of $456.83 and a twelve month high of $633.23. The stock’s 50 day moving average is $571.19 and its 200-day moving average is $556.57. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $36.67 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 4.04 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing the consensus estimate of $6.41 by ($0.50). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the company posted $6.94 EPS. The business’s quarterly revenue was down 5.3% on a year-over-year basis. Sell-side analysts forecast that Martin Marietta Materials will post 17.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MLM. UBS Group began coverage on Martin Marietta Materials in a research note on Thursday, November 7th. They set a “buy” rating and a $730.00 price target for the company. Jefferies Financial Group cut their price objective on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Citigroup dropped their price target on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. JPMorgan Chase & Co. raised shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $515.00 to $640.00 in a research report on Wednesday. Finally, Truist Financial reduced their target price on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $644.46.

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.