Martin Marietta Materials, Inc. Declares Dividend of $0.40 (MLM)
Martin Marietta Materials (NYSE:MLM) announced a dividend on Friday, August 22nd, ARN reports. Shareholders of record on Tuesday, September 2nd will be paid a dividend of 0.40 per share on Tuesday, September 30th. The ex-dividend date is Thursday, August 28th.
MLM has been the subject of a number of recent research reports. Analysts at Stifel Nicolaus raised their price target on shares of Martin Marietta Materials from $135.00 to $146.00 in a research note on Thursday, July 31st. On a related note, analysts at Jefferies Group cut their price target on shares of Martin Marietta Materials from $128.00 to $126.00 in a research note on Friday, July 18th. They now have a “hold” rating on the stock. Finally, analysts at Goldman Sachs upgraded shares of Martin Marietta Materials from a “buy” rating to a “conviction-buy” rating in a research note on Thursday, July 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $134.00.
Shares of Martin Marietta Materials (NYSE:MLM) opened at 129.14 on Friday. Martin Marietta Materials has a 1-year low of $94.01 and a 1-year high of $136.36. The stock’s 50-day moving average is $128.0 and its 200-day moving average is $124.6. The company has a market cap of $8.642 billion and a price-to-earnings ratio of 41.27.
Martin Marietta Materials (NYSE:MLM) last released its earnings data on Tuesday, July 29th. The company reported $1.34 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.31 by $0.03. The company had revenue of $669.20 million for the quarter, compared to the consensus estimate of $624.30 million. During the same quarter last year, the company posted $0.89 earnings per share. Martin Marietta Materials’s revenue was up 19.2% compared to the same quarter last year. On average, analysts predict that Martin Marietta Materials will post $3.84 earnings per share for the current fiscal year.
In other Martin Marietta Materials news, SVP Roselyn R. Bar unloaded 7,730 shares of the stock on the open market in a transaction dated Monday, August 11th. The stock was sold at an average price of $126.30, for a total value of $976,299.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
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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