Q2 2024 EPS Estimates for Martin Marietta Materials, Inc. Lifted by Zacks Research (NYSE:MLM)

Martin Marietta Materials, Inc. (NYSE:MLM) – Equities research analysts at Zacks Research boosted their Q2 2024 earnings per share estimates for Martin Marietta Materials in a research report issued to clients and investors on Tuesday, May 21st. Zacks Research analyst R. Department now expects that the construction company will post earnings of $6.38 per share for the quarter, up from their prior forecast of $6.14. The consensus estimate for Martin Marietta Materials’ current full-year earnings is $21.88 per share. Zacks Research also issued estimates for Martin Marietta Materials’ Q3 2024 earnings at $7.94 EPS, Q4 2024 earnings at $5.27 EPS, FY2024 earnings at $21.52 EPS, Q1 2025 earnings at $2.55 EPS, Q2 2025 earnings at $7.02 EPS, Q3 2025 earnings at $8.58 EPS, Q4 2025 earnings at $5.61 EPS, FY2025 earnings at $23.75 EPS and Q1 2026 earnings at $2.77 EPS.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.05. The business had revenue of $1.25 billion for 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 firm’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.16 earnings per share.

Other equities analysts have also recently issued reports about the stock. StockNews.com cut shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. Raymond James boosted their target price on Martin Marietta Materials from $505.00 to $555.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Stephens raised their price target on Martin Marietta Materials from $575.00 to $605.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. The Goldman Sachs Group boosted their price objective on Martin Marietta Materials from $642.00 to $737.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Stifel Nicolaus raised their target price on shares of Martin Marietta Materials from $621.00 to $650.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $610.27.

Martin Marietta Materials Stock Performance

MLM stock opened at $573.34 on Wednesday. The company has a market cap of $35.34 billion, a P/E ratio of 16.99, a price-to-earnings-growth ratio of 2.74 and a beta of 0.95. The business’s fifty day moving average is $599.09 and its 200-day moving average is $538.70. The company has a quick ratio of 2.41, a current ratio of 3.16 and a debt-to-equity ratio of 0.44. Martin Marietta Materials has a twelve month low of $389.90 and a twelve month high of $626.67.

Hedge Funds Weigh In On Martin Marietta Materials

Hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC lifted its position in shares of Martin Marietta Materials by 225.3% in the third quarter. FMR LLC now owns 1,833,959 shares of the construction company’s stock valued at $752,803,000 after buying an additional 1,270,116 shares during the last quarter. Norges Bank acquired a new position in shares of Martin Marietta Materials in the fourth quarter valued at $308,705,000. Price T Rowe Associates Inc. MD raised its position in shares of Martin Marietta Materials by 114.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock valued at $602,092,000 after purchasing an additional 523,038 shares during the period. Balyasny Asset Management L.P. boosted its holdings in shares of Martin Marietta Materials by 4,244.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 277,182 shares of the construction company’s stock worth $138,289,000 after buying an additional 270,802 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Martin Marietta Materials by 9.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,042,537 shares of the construction company’s stock valued at $838,421,000 after buying an additional 181,136 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Insiders Place Their Bets

In related 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 value 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 document filed with the SEC, which is available through this hyperlink. In other news, EVP Roselyn R. Bar sold 10,000 shares of Martin Marietta Materials stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $603.29, for a total value 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO C Howard Nye sold 15,000 shares of the business’s 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 transaction, the chief executive officer now owns 134,640 shares in the company, valued at $81,357,566.40. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be given a dividend of $0.74 per share. The ex-dividend date is Monday, June 3rd. This represents a $2.96 annualized dividend and a yield of 0.52%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 8.77%.

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.