Zacks Research Equities Analysts Increase Earnings Estimates for Martin Marietta Materials, Inc. (NYSE:MLM)

Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) - Research analysts at Zacks Research increased their Q2 2024 earnings estimates for Martin Marietta Materials in a research report issued to clients and investors on Monday, April 8th. Zacks Research analyst R. Department now anticipates that the construction company will post earnings of $6.14 per share for the quarter, up from their prior estimate of $6.10. 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' Q4 2024 earnings at $4.92 EPS, FY2024 earnings at $20.46 EPS and Q4 2025 earnings at $5.34 EPS.

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

MLM has been the subject of several other research reports. Stifel Nicolaus boosted their price target on shares of Martin Marietta Materials from $510.00 to $598.00 and gave the stock a "buy" rating in a report on Tuesday, December 19th. Morgan Stanley began coverage on shares of Martin Marietta Materials in a report on Monday, January 8th. They set an "overweight" rating and a $595.00 price target for the company. Wolfe Research cut shares of Martin Marietta Materials from an "outperform" rating to a "peer perform" rating in a report on Friday, March 8th. Citigroup upped their target price on shares of Martin Marietta Materials from $635.00 to $708.00 and gave the company a "buy" rating in a report on Friday, April 5th. Finally, The Goldman Sachs Group upped their target price on shares of Martin Marietta Materials from $560.00 to $642.00 and gave the company a "buy" rating in a report on Friday, February 16th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $577.38.

Martin Marietta Materials Stock Up 0.1 %

NYSE MLM traded up $0.53 on Thursday, hitting $607.08. 283,594 shares of the stock were exchanged, compared to its average volume of 401,830. 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 fifty-two week low of $343.71 and a fifty-two week high of $626.67. The company has a market cap of $37.53 billion, a PE ratio of 32.24, a PEG ratio of 3.04 and a beta of 0.96. The company has a 50-day moving average price of $578.75 and a 200-day moving average price of $502.34.

Martin Marietta Materials Dividend Announcement

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

Insider Activity at Martin Marietta Materials

In related news, Director Sue W. Cole sold 1,724 shares of the company's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $543.48, for a total value of $936,959.52. Following the completion of the sale, the director now owns 19,793 shares in the company, valued at approximately $10,757,099.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Martin Marietta Materials news, EVP Roselyn R. Bar sold 10,000 shares of the company's stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $603.29, for a total transaction of $6,032,900.00. Following the completion of the transaction, the executive vice president now owns 59,970 shares in the company, valued at approximately $36,179,301.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sue W. Cole sold 1,724 shares of the company's stock in a transaction on Friday, February 16th. The stock was sold at an average price of $543.48, for a total transaction of $936,959.52. Following the transaction, the director now owns 19,793 shares of the company's stock, valued at approximately $10,757,099.64. The disclosure for this sale can be found here. Insiders sold a total of 26,724 shares of company stock worth $16,033,760 in the last 90 days. 0.59% of the stock is owned by insiders.

Hedge Funds Weigh In On Martin Marietta Materials

A number of large investors have recently bought and sold shares of MLM. Fairfield Bush & CO. purchased a new position in Martin Marietta Materials during the 1st quarter worth $46,000. Mirae Asset Global Investments Co. Ltd. raised its position in Martin Marietta Materials by 4.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 391,276 shares of the construction company's stock worth $150,599,000 after buying an additional 15,163 shares during the last quarter. Yousif Capital Management LLC grew its stake in shares of Martin Marietta Materials by 0.4% during the 1st quarter. Yousif Capital Management LLC now owns 9,391 shares of the construction company's stock worth $3,615,000 after purchasing an additional 40 shares during the period. Prudential PLC acquired a new position in shares of Martin Marietta Materials during the 1st quarter worth $456,000. Finally, Cetera Investment Advisers grew its stake in shares of Martin Marietta Materials by 12.8% during the 1st quarter. Cetera Investment Advisers now owns 950 shares of the construction company's stock worth $366,000 after purchasing an additional 108 shares during the period. Hedge funds and other institutional investors own 95.04% of the company's stock.

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.