Q1 2024 EPS Estimates for Martin Marietta Materials, Inc. (NYSE:MLM) Lowered by Analyst

Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) - Analysts at Zacks Research dropped their Q1 2024 earnings per share (EPS) estimates for shares of Martin Marietta Materials in a research note issued to investors on Monday, April 8th. Zacks Research analyst R. Department now anticipates that the construction company will post earnings of $2.01 per share for the quarter, down from their prior forecast of $2.10. The consensus estimate for Martin Marietta Materials' current full-year earnings is $21.09 per share. Zacks Research also issued estimates for Martin Marietta Materials' Q3 2024 earnings at $7.39 EPS, Q1 2025 earnings at $2.77 EPS, Q2 2025 earnings at $6.80 EPS, Q3 2025 earnings at $8.23 EPS, FY2025 earnings at $23.14 EPS, Q1 2026 earnings at $2.97 EPS and FY2026 earnings at $24.01 EPS.

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

MLM has been the subject of a number of other research reports. Stifel Nicolaus boosted their price target on Martin Marietta Materials from $510.00 to $598.00 and gave the stock a "buy" rating in a research report on Tuesday, December 19th. Stephens upped their price objective on Martin Marietta Materials from $575.00 to $605.00 and gave the company an "overweight" rating in a report on Friday, February 16th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $600.00 price objective (up previously from $530.00) on shares of Martin Marietta Materials in a report on Friday, March 22nd. StockNews.com lowered Martin Marietta Materials from a "buy" rating to a "hold" rating in a report on Friday, February 9th. Finally, Morgan Stanley initiated coverage on Martin Marietta Materials in a report on Monday, January 8th. They issued an "overweight" rating and a $595.00 price objective for the company. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $577.38.

Martin Marietta Materials Stock Performance

MLM stock traded down $4.06 during trading on Wednesday, reaching $606.57. 386,030 shares of the company's stock were exchanged, compared to its average volume of 403,544. The company has a quick ratio of 2.50, a current ratio of 3.35 and a debt-to-equity ratio of 0.49. Martin Marietta Materials has a 1-year low of $341.40 and a 1-year high of $626.67. The company's fifty day moving average price is $576.92 and its 200-day moving average price is $501.61. The firm has a market cap of $37.50 billion, a PE ratio of 32.21, a P/E/G ratio of 3.04 and a beta of 0.96.

Institutional Trading of Martin Marietta Materials

Large investors have recently made changes to their positions in the stock. FMR LLC raised its holdings in Martin Marietta Materials by 225.3% in the 3rd quarter. FMR LLC now owns 1,833,959 shares of the construction company's stock valued at $752,803,000 after acquiring an additional 1,270,116 shares in the last quarter. Norges Bank acquired a new position in shares of Martin Marietta Materials in the 4th quarter worth approximately $308,705,000. Balyasny Asset Management L.P. raised its holdings in shares of Martin Marietta Materials by 4,244.5% in the 4th 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 in the last quarter. Morgan Stanley raised its holdings in shares of Martin Marietta Materials by 51.6% in the 4th quarter. Morgan Stanley now owns 737,821 shares of the construction company's stock worth $249,362,000 after buying an additional 251,047 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Martin Marietta Materials by 9.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,042,537 shares of the construction company's stock worth $838,421,000 after buying an additional 181,136 shares in the last quarter. Institutional investors own 95.04% of the company's stock.

Insider Buying and Selling at Martin Marietta Materials

In other Martin Marietta Materials news, 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 value of $936,959.52. Following the transaction, the director now owns 19,793 shares in the company, valued at $10,757,099.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Martin Marietta Materials news, 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 value of $936,959.52. Following the transaction, the director now owns 19,793 shares in the company, valued at $10,757,099.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO C Howard Nye sold 15,000 shares of the company's stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $604.26, for a total value of $9,063,900.00. Following the sale, the chief executive officer now owns 134,640 shares of the company's stock, valued at approximately $81,357,566.40. The disclosure for this sale can be found here. Insiders have sold 26,724 shares of company stock worth $16,033,760 over the last 90 days. 0.59% of the stock is currently owned by corporate insiders.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 4th were paid a $0.74 dividend. The ex-dividend date was Friday, March 1st. This represents a $2.96 dividend on an annualized basis and a yield of 0.49%. Martin Marietta Materials's dividend payout ratio (DPR) is currently 15.72%.

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.