Martin Marietta Materials, Inc. (NYSE:MLM) Declares Quarterly Dividend of $0.83

Key Points

• Martin Marietta Materials, Inc. declared a quarterly dividend of $0.83 per share, which is a 5.1% increase from the previous dividend of $0.79.
• The company has a payout ratio of 14.5%, indicating that its dividend is well-covered by earnings, with expected future earnings also supporting its dividend payout.
• Despite a drop in trading by 1.1%, the company's market capitalization stands at approximately $36.98 billion and its earnings report showed a slight increase in revenue from the previous year.

Martin Marietta Materials, Inc. (NYSE:MLM - Get Free Report) declared a quarterly dividend on Thursday, August 14th, RTT News reports. Stockholders of record on Tuesday, September 2nd will be paid a dividend of 0.83 per share by the construction company on Tuesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 0.5%. This is a 5.1% increase from Martin Marietta Materials's previous quarterly dividend of $0.79.

Martin Marietta Materials has a payout ratio of 14.5% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 1.1%

NYSE:MLM traded down $6.90 on Thursday, reaching $613.18. 365,019 shares of the stock traded hands, compared to its average volume of 428,141. The company's 50 day moving average is $566.66 and its 200-day moving average is $530.35. The company has a current ratio of 2.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.56. Martin Marietta Materials has a 1-year low of $441.95 and a 1-year high of $633.23. The firm has a market capitalization of $36.98 billion, a price-to-earnings ratio of 34.01, a price-to-earnings-growth ratio of 5.66 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its earnings results on Thursday, August 7th. The construction company reported $5.43 earnings per share for the quarter, missing analysts' consensus estimates of $5.44 by ($0.01). Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the previous year, the firm posted $4.76 earnings per share. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. Equities research analysts anticipate that Martin Marietta Materials will post 19.53 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.