Martin Marietta Materials, Inc. Announces Quarterly Dividend of $0.40 (MLM)
Martin Marietta Materials (NYSE:MLM) announced a quarterly dividend on Friday, May 23rd, American Banking News reports. Investors of record on Monday, June 2nd will be paid a dividend of 0.40 per share on Monday, June 30th. This represents a $1.60 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Thursday, May 29th.
MLM has been the subject of a number of recent research reports. Analysts at DA Davidson raised their price target on shares of Martin Marietta Materials from $120.00 to $125.00 in a research note on Wednesday, April 30th. Analysts at Jefferies Group initiated coverage on shares of Martin Marietta Materials in a research note on Monday, April 28th. They set a “hold” rating and a $128.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $119.28.
Martin Marietta Materials (NYSE:MLM) opened at 121.00 on Friday. Martin Marietta Materials has a one year low of $94.01 and a one year high of $130.00. The stock has a 50-day moving average of $123.3 and a 200-day moving average of $112.. The company has a market cap of $5.609 billion and a price-to-earnings ratio of 43.27.
Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Tuesday, April 29th. The company reported ($0.35) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.34) by $0.01. The company had revenue of $379.70 million for the quarter, compared to the consensus estimate of $409.45 million. During the same quarter in the prior year, the company posted ($0.61) earnings per share. The company’s quarterly revenue was up 11.7% on a year-over-year basis. On average, analysts predict that Martin Marietta Materials will post $3.80 earnings per share for the current fiscal year.
Martin Marietta Materials, Inc, is the producer of aggregates products (NYSE:MLM) for the construction industry, including infrastructure, nonresidential, residential, railroad ballast, agricultural, and chemical grade stone used in environmental applications.
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