Q2 2024 EPS Estimates for Martin Marietta Materials, Inc. Increased by Analyst (NYSE:MLM)

Martin Marietta Materials, Inc. (NYSE:MLM) – Analysts at Zacks Research raised their Q2 2024 EPS estimates for Martin Marietta Materials in a research report issued on Monday, April 8th. Zacks Research analyst R. Department now expects that the construction company will post earnings of $6.14 per share for the quarter, up from their previous forecast of $6.10. The consensus estimate for Martin Marietta Materials’ current full-year earnings is $21.09 per share. Zacks Research also issued estimates for Martin Marietta Materials’ Q4 2024 earnings at $4.92 EPS, FY2024 earnings at $20.46 EPS and Q4 2025 earnings at $5.34 EPS.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, February 14th. The construction company reported $4.63 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.67. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.62 billion. Martin Marietta Materials had a net margin of 17.25% and a return on equity of 15.77%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.04 earnings per share.

MLM has been the subject of a number of other research reports. Truist Financial raised their target price on Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Stephens boosted their price objective on shares of Martin Marietta Materials from $575.00 to $605.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Wolfe Research cut shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a report on Friday, March 8th. HSBC raised Martin Marietta Materials from a “reduce” rating to a “hold” rating and boosted their price target for the stock from $376.00 to $543.00 in a research note on Thursday, February 22nd. Finally, Citigroup raised their price objective on Martin Marietta Materials from $635.00 to $708.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $577.38.

Martin Marietta Materials Stock Up 0.1 %

Martin Marietta Materials stock opened at $607.08 on Thursday. The stock’s 50 day moving average price is $578.75 and its 200 day moving average price is $502.34. Martin Marietta Materials has a 1-year low of $343.71 and a 1-year high of $626.67. The company has a market cap of $37.53 billion, a PE ratio of 32.24, a price-to-earnings-growth ratio of 3.04 and a beta of 0.96. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.35 and a quick ratio of 2.50.

Martin Marietta Materials Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 4th were paid a dividend of $0.74 per share. The ex-dividend date was Friday, March 1st. This represents a $2.96 annualized dividend and a dividend yield of 0.49%. Martin Marietta Materials’s dividend payout ratio is currently 15.72%.

Insiders Place Their Bets

In other Martin Marietta Materials news, Director Sue W. Cole sold 1,724 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $543.48, for a total value of $936,959.52. Following the completion of the transaction, the director now directly owns 19,793 shares in the company, valued at approximately $10,757,099.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO C Howard Nye sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were 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 directly owns 134,640 shares of the company’s stock, valued at $81,357,566.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sue W. Cole sold 1,724 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $543.48, for a total transaction of $936,959.52. Following the transaction, the director now directly owns 19,793 shares of the company’s stock, valued at approximately $10,757,099.64. The disclosure for this sale can be found here. Insiders have sold 26,724 shares of company stock valued at $16,033,760 in the last ninety days. Insiders own 0.59% of the company’s stock.

Hedge Funds Weigh In On Martin Marietta Materials

A number of hedge funds have recently made changes to their positions in MLM. Ables Iannone Moore & Associates Inc. purchased a new position in Martin Marietta Materials in the fourth quarter valued at approximately $25,000. Pinnacle Bancorp Inc. purchased a new position in shares of Martin Marietta Materials in the 4th quarter valued at $26,000. Exchange Traded Concepts LLC acquired a new position in shares of Martin Marietta Materials during the 4th quarter valued at $27,000. Benjamin Edwards Inc. boosted its position in Martin Marietta Materials by 78.8% during the 4th quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock worth $29,000 after purchasing an additional 26 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group boosted its position in shares of Martin Marietta Materials by 74.3% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 61 shares of the construction company’s stock worth $30,000 after buying an additional 26 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

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.