Martin Marietta Materials, Inc. (NYSE:MLM) Plans Quarterly Dividend of $0.74

Martin Marietta Materials, Inc. (NYSE:MLM - Get Free Report) announced a quarterly dividend on Thursday, May 16th, Wall Street Journal reports. Stockholders of record on Monday, June 3rd will be given a dividend of 0.74 per share by the construction company on Friday, June 28th. This represents a $2.96 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Monday, June 3rd.

Martin Marietta Materials has increased its dividend by an average of 7.7% per year over the last three years and has raised its dividend every year for the last 8 years. Martin Marietta Materials has a payout ratio of 12.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Martin Marietta Materials to earn $23.89 per share next year, which means the company should continue to be able to cover its $2.96 annual dividend with an expected future payout ratio of 12.4%.

Martin Marietta Materials Trading Down 0.2 %

Martin Marietta Materials stock traded down $1.21 during mid-day trading on Friday, hitting $580.48. The company's stock had a trading volume of 407,057 shares, compared to its average volume of 414,868. The stock's fifty day moving average is $601.40 and its two-hundred day moving average is $533.46. The company has a current ratio of 3.16, a quick ratio of 2.41 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $35.78 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 2.90 and a beta of 0.95. Martin Marietta Materials has a 1 year low of $389.90 and a 1 year high of $626.67.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping analysts' consensus estimates of $1.88 by $0.05. The business had revenue of $1.25 billion during the quarter, compared to analysts' expectations of $1.31 billion. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The company's revenue was down 7.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.16 EPS. On average, analysts anticipate that Martin Marietta Materials will post 21.75 EPS for the current year.

Analysts Set New Price Targets

MLM has been the topic of a number of research analyst reports. Truist Financial boosted their target price on Martin Marietta Materials from $610.00 to $700.00 and gave the company a "buy" rating in a research report on Tuesday, April 2nd. Citigroup increased their target price on Martin Marietta Materials from $635.00 to $708.00 and gave the stock a "buy" rating in a research note on Friday, April 5th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $600.00 target price (up from $530.00) on shares of Martin Marietta Materials in a research report on Friday, March 22nd. Stifel Nicolaus boosted their price target on shares of Martin Marietta Materials from $621.00 to $650.00 and gave the stock a "buy" rating in a research note on Monday, April 15th. Finally, HSBC raised shares of Martin Marietta Materials from a "reduce" rating to a "hold" rating and raised their price objective for the company from $376.00 to $543.00 in a research note on Thursday, February 22nd. Four equities 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 currently has an average rating of "Moderate Buy" and an average target price of $610.27.

Insider Activity at Martin Marietta Materials

In other Martin Marietta Materials news, CEO C Howard Nye sold 15,000 shares of Martin Marietta Materials stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $604.26, for a total transaction of $9,063,900.00. Following the completion of the sale, the chief executive officer now directly owns 134,640 shares of the company's stock, valued at approximately $81,357,566.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Martin Marietta Materials news, CEO C Howard Nye sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $604.26, for a total transaction of $9,063,900.00. Following the sale, the chief executive officer now owns 134,640 shares of the company's stock, valued at $81,357,566.40. The transaction was disclosed in a 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 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 of the company's stock, valued at approximately $36,179,301.30. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by corporate insiders.

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.