Martin Marietta Materials, Inc. (NYSE:MLM) Announces $0.79 Quarterly Dividend

Martin Marietta Materials, Inc. (NYSE:MLM) announced a quarterly dividend on Thursday, February 20th, RTT News reports. Stockholders of record on Monday, March 3rd will be paid a dividend of 0.79 per share by the construction company on Monday, March 31st. This represents a $3.16 annualized dividend and a dividend yield of 0.63%.

Martin Marietta Materials has increased its dividend by an average of 9.0% annually over the last three years. Martin Marietta Materials has a payout ratio of 13.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Martin Marietta Materials to earn $21.61 per share next year, which means the company should continue to be able to cover its $3.16 annual dividend with an expected future payout ratio of 14.6%.

Martin Marietta Materials Price Performance

Shares of MLM stock opened at $505.47 on Friday. The stock’s fifty day simple moving average is $531.34 and its 200 day simple moving average is $547.49. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. The firm has a market cap of $30.89 billion, a price-to-earnings ratio of 15.63, a P/E/G ratio of 4.58 and a beta of 0.91. Martin Marietta Materials has a one year low of $482.72 and a one year high of $633.23.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, beating the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. On average, analysts expect that Martin Marietta Materials will post 19.53 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on MLM shares. Raymond James decreased their price target on Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Morgan Stanley cut their price objective on Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Truist Financial cut their price objective on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Hsbc Global Res upgraded Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Finally, Stephens cut their price objective on Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $639.43.

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.