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. The company also produces magnesia-based chemicals products that are used in industrial, agricultural, and environmental applications; and dolomitic lime primarily to customers for steel production and soil stabilization. Its chemical products are used in flame retardants, wastewater treatment, pulp and paper production, and other environmental applications. The company was founded in 1939 and is headquartered in Raleigh, North Carolina.
Analyst Ratings Changes
A number of analysts have issued reports on the company. TheStreet lowered Martin Marietta Materials from a "b" rating to a "c+" rating in a report on Tuesday, May 10th. Truist Financial lowered their target price on Martin Marietta Materials to $392.00 in a report on Tuesday, July 5th. Morgan Stanley raised their target price on Martin Marietta Materials from $394.00 to $420.00 and gave the company an "overweight" rating in a report on Monday, August 1st. StockNews.com raised Martin Marietta Materials from a "sell" rating to a "hold" rating in a report on Monday, August 1st. Finally, DA Davidson lowered their target price on Martin Marietta Materials from $450.00 to $375.00 and set a "buy" rating on the stock in a report on Friday, July 1st. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $414.60.
Martin Marietta Materials Stock Performance
Shares of NYSE:MLM traded up $0.59 during trading on Tuesday, hitting $353.81. 286,224 shares of the stock were exchanged, compared to its average volume of 471,629. The company's fifty day simple moving average is $323.64 and its 200-day simple moving average is $351.91. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.53 and a current ratio of 3.63. The company has a market capitalization of $22.07 billion, a price-to-earnings ratio of 27.71, a price-to-earnings-growth ratio of 1.76 and a beta of 0.88. Martin Marietta Materials has a 1-year low of $284.99 and a 1-year high of $446.46.
Martin Marietta Materials (NYSE:MLM - Get Rating) last announced its quarterly earnings results on Thursday, July 28th. The construction company reported $3.96 EPS for the quarter, missing the consensus estimate of $4.09 by ($0.13). The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.59 billion. Martin Marietta Materials had a net margin of 13.49% and a return on equity of 11.28%. Martin Marietta Materials's quarterly revenue was up 19.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.81 EPS. Sell-side analysts expect that Martin Marietta Materials will post 13.28 EPS for the current fiscal year.
Martin Marietta Materials Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Wednesday, June 1st were paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend was Tuesday, May 31st. Martin Marietta Materials's dividend payout ratio is 19.11%.