Martin Marietta Materials, Inc. (NYSE:MLM) Forecasted to Post Q2 2024 Earnings of $6.48 Per Share

Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) - Equities research analysts at Seaport Res Ptn decreased their Q2 2024 EPS estimates for Martin Marietta Materials in a research note issued on Thursday, April 25th. Seaport Res Ptn analyst R. Seth now anticipates that the construction company will post earnings of $6.48 per share for the quarter, down from their previous forecast of $6.60. The consensus estimate for Martin Marietta Materials' current full-year earnings is $21.24 per share. Seaport Res Ptn also issued estimates for Martin Marietta Materials' Q3 2024 earnings at $8.29 EPS, Q4 2024 earnings at $5.46 EPS, FY2024 earnings at $22.11 EPS and Q3 2025 earnings at $9.13 EPS.

A number of other brokerages also recently commented on MLM. The Goldman Sachs Group upped their target price on Martin Marietta Materials from $642.00 to $737.00 and gave the stock a "buy" rating in a research note on Tuesday, April 16th. Wolfe Research cut Martin Marietta Materials from an "outperform" rating to a "peer perform" rating in a research note on Friday, March 8th. Truist Financial raised their price objective on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the company a "buy" rating in a report on Tuesday, April 2nd. HSBC raised shares of Martin Marietta Materials from a "reduce" rating to a "hold" rating and increased their target price for the company from $376.00 to $543.00 in a research report on Thursday, February 22nd. Finally, Citigroup lifted 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. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $588.69.

Martin Marietta Materials Stock Up 1.4 %

Shares of MLM traded up $8.10 during midday trading on Friday, hitting $605.17. 386,242 shares of the company's stock traded hands, compared to its average volume of 407,775. The firm's fifty day moving average is $593.37 and its 200-day moving average is $515.98. The stock has a market capitalization of $37.35 billion, a price-to-earnings ratio of 32.14, a price-to-earnings-growth ratio of 2.87 and a beta of 0.96. The company has a current ratio of 3.35, a quick ratio of 2.50 and a debt-to-equity ratio of 0.49. Martin Marietta Materials has a 1 year low of $345.03 and a 1 year high of $626.67.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 14th. The construction company reported $4.63 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.62 billion. During the same quarter in the previous year, the business posted $3.04 earnings per share. The business's revenue was up 8.9% compared to the same quarter last year.

Institutional Trading of Martin Marietta Materials

Large investors have recently bought and sold shares of the company. Amalgamated Bank grew its holdings in Martin Marietta Materials by 2.5% during the 3rd quarter. Amalgamated Bank now owns 16,460 shares of the construction company's stock valued at $6,757,000 after purchasing an additional 397 shares in the last quarter. Simplicity Solutions LLC lifted its stake in shares of Martin Marietta Materials by 166.1% in the fourth quarter. Simplicity Solutions LLC now owns 2,725 shares of the construction company's stock worth $1,360,000 after acquiring an additional 1,701 shares in the last quarter. Hudson Bay Capital Management LP purchased a new position in Martin Marietta Materials in the third quarter valued at about $3,284,000. Cerity Partners LLC boosted its holdings in Martin Marietta Materials by 199.8% in the fourth quarter. Cerity Partners LLC now owns 4,791 shares of the construction company's stock valued at $2,390,000 after purchasing an additional 3,193 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Martin Marietta Materials by 1.5% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,739 shares of the construction company's stock valued at $2,863,000 after purchasing an additional 85 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

Insider Buying and Selling at Martin Marietta Materials

In other news, Director Sue W. Cole sold 1,724 shares of the firm'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 transaction, the director now owns 19,793 shares of the company's stock, valued at approximately $10,757,099.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Sue W. Cole sold 1,724 shares of the stock in a transaction on Friday, February 16th. The stock was 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 directly owns 19,793 shares in the company, valued at approximately $10,757,099.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Roselyn R. Bar sold 10,000 shares of the company's stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $603.29, for a total value of $6,032,900.00. Following the completion of the sale, the executive vice president now directly owns 59,970 shares of the company's stock, valued at approximately $36,179,301.30. The disclosure for this sale can be found here. Insiders have sold a total of 26,724 shares of company stock valued at $16,033,760 over the last ninety days. Corporate insiders own 0.61% of the company's stock.

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 4th were given a dividend of $0.74 per share. 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 15.72%.

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.