Martin Marietta Materials, Inc. (NYSE:MLM) to Issue $0.79 Quarterly Dividend

Martin Marietta Materials, Inc. (NYSE:MLM) declared a quarterly dividend on Thursday, February 20th, RTT News reports. Investors of record on Monday, March 3rd will be given a dividend of 0.79 per share by the construction company on Monday, March 31st. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Monday, March 3rd.

Martin Marietta Materials has increased its dividend payment by an average of 9.0% per year over the last three years. Martin Marietta Materials has a dividend payout ratio of 14.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Martin Marietta Materials to earn $21.61 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 14.6%.

Martin Marietta Materials Stock Down 3.2 %

NYSE MLM opened at $489.94 on Friday. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. The company has a fifty day moving average of $531.34 and a two-hundred day moving average of $547.49. The firm has a market capitalization of $29.95 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 4.45 and a beta of 0.91. Martin Marietta Materials has a 52 week low of $482.72 and a 52 week high of $633.23.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, topping the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. On average, analysts predict that Martin Marietta Materials will post 19.53 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Barclays dropped their price objective on shares of Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. BNP Paribas downgraded Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Hsbc Global Res upgraded Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. HSBC upgraded Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 target price for the company in a research report on Wednesday, December 11th. Finally, StockNews.com downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and an average target price of $639.43.

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.