Martin Marietta Materials (MLM) to Release Quarterly Earnings on Tuesday

Martin Marietta Materials (NYSE:MLM - Get Free Report) is scheduled to be posting its quarterly earnings results before the market opens on Tuesday, April 30th. Analysts expect Martin Marietta Materials to post earnings of $1.92 per share for the quarter. Martin Marietta Materials has set its FY 2024 guidance at EPS.Individual that wish to register for the company's earnings conference call can do so using this link.

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 the consensus estimate of $3.96 by $0.67. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.62 billion. Martin Marietta Materials had a return on equity of 15.77% and a net margin of 17.25%. The company's revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the company earned $3.04 earnings per share. On average, analysts expect Martin Marietta Materials to post $21 EPS for the current fiscal year and $24 EPS for the next fiscal year.

Martin Marietta Materials Stock Performance

Shares of MLM stock traded up $10.36 during trading hours on Tuesday, hitting $594.68. The stock had a trading volume of 300,039 shares, compared to its average volume of 409,020. The firm has a market capitalization of $36.70 billion, a PE ratio of 31.58, a PEG ratio of 2.79 and a beta of 0.96. Martin Marietta Materials has a twelve month low of $343.79 and a twelve month high of $626.67. The stock's 50 day moving average is $589.77 and its 200 day moving average is $513.61. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.35 and a quick ratio of 2.50.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 4th were issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Friday, March 1st. Martin Marietta Materials's dividend payout ratio is presently 15.72%.

Insider Activity

In other news, Director Sue W. Cole sold 1,724 shares of the firm's 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 transaction, the director now owns 19,793 shares in the company, valued at $10,757,099.64. The sale was disclosed in a document filed with the SEC, which is available at this link. 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 transaction of $936,959.52. Following the sale, the director now owns 19,793 shares of the company's stock, valued at $10,757,099.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO C Howard Nye sold 15,000 shares of the stock in a transaction on Tuesday, March 5th. The shares were 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 directly owns 134,640 shares in the company, valued at approximately $81,357,566.40. The disclosure for this sale can be found here. Insiders sold a total of 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.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Stifel Nicolaus increased their price target on Martin Marietta Materials from $621.00 to $650.00 and gave the stock a "buy" rating in a report on Monday, April 15th. Stephens increased their price target on Martin Marietta Materials from $575.00 to $605.00 and gave the stock an "overweight" rating in a report on Friday, February 16th. Morgan Stanley assumed coverage on Martin Marietta Materials in a report on Monday, January 8th. They set an "overweight" rating and a $595.00 price target for the company. HSBC raised Martin Marietta Materials from a "reduce" rating to a "hold" rating and increased their price target for the stock from $376.00 to $543.00 in a report on Thursday, February 22nd. Finally, Citigroup increased their price target on Martin Marietta Materials from $635.00 to $708.00 and gave the stock a "buy" rating in a report on Friday, April 5th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Martin Marietta Materials presently has an average rating of "Moderate Buy" and an average target price of $588.69.

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.