Martin Marietta Materials, Inc. (MLM) to Issue Quarterly Dividend of $0.84 on September 30th

Martin Marietta Materials, Inc. (NYSE:MLM) declared a quarterly dividend on Thursday, August 13th. Investors of record on Tuesday, September 1st will be paid a dividend of 0.84 per share by the construction company on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a 1.2% increase from Martin Marietta Materials’s previous quarterly dividend of $0.83.

Martin Marietta Materials has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 9 consecutive years. Martin Marietta Materials has a payout ratio of 15.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Martin Marietta Materials to earn $21.44 per share next year, which means the company should continue to be able to cover its $3.36 annual dividend with an expected future payout ratio of 15.7%.

Martin Marietta Materials Price Performance

Shares of Martin Marietta Materials stock opened at $531.11 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.41 and a quick ratio of 0.73. Martin Marietta Materials has a fifty-two week low of $522.19 and a fifty-two week high of $710.97. The firm has a fifty day moving average price of $562.81 and a two-hundred day moving average price of $591.20. The company has a market cap of $31.90 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Thursday, July 30th. The construction company reported $5.00 EPS for the quarter, beating analysts’ consensus estimates of $4.76 by $0.24. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the prior year, the business earned $5.43 earnings per share. The firm’s revenue for the quarter was up 21.0% on a year-over-year basis. Analysts expect that Martin Marietta Materials will post 19.07 EPS for the current year.

About Martin Marietta Materials

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.