Martin Marietta Materials (MLM) to Release Earnings on Tuesday

Martin Marietta Materials (NYSE:MLM) is scheduled to announce its earnings results before the market opens on Tuesday, April 30th. Analysts expect the company to announce earnings of $1.92 per share for the quarter. Martin Marietta Materials has set its FY 2024 guidance at EPS.Investors that wish to register for the company’s conference call can do so using this link.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, February 14th. The construction company reported $4.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.96 by $0.67. Martin Marietta Materials had a net margin of 17.25% and a return on equity of 15.77%. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the prior year, the firm earned $3.04 EPS. The company’s revenue was up 8.9% compared to the same quarter last year. On average, analysts expect Martin Marietta Materials to post $21 EPS for the current fiscal year and $24 EPS for the next fiscal year.

Martin Marietta Materials Price Performance

MLM opened at $584.32 on Tuesday. The company has a current ratio of 3.35, a quick ratio of 2.50 and a debt-to-equity ratio of 0.49. Martin Marietta Materials has a 1 year low of $343.79 and a 1 year high of $626.67. The stock has a fifty day moving average price of $588.42 and a 200 day moving average price of $512.48. The stock has a market cap of $36.06 billion, a price-to-earnings ratio of 31.03, a PEG ratio of 2.79 and a beta of 0.96.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 4th were issued a $0.74 dividend. The ex-dividend date was Friday, March 1st. This represents a $2.96 dividend on an annualized basis and a yield of 0.51%. Martin Marietta Materials’s dividend payout ratio is currently 15.72%.

Wall Street Analysts Forecast Growth

MLM has been the topic of a number of recent research reports. HSBC upgraded shares of Martin Marietta Materials from a “reduce” rating to a “hold” rating and raised their price target for the company from $376.00 to $543.00 in a report on Thursday, February 22nd. The Goldman Sachs Group raised their target price on Martin Marietta Materials from $642.00 to $737.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. StockNews.com downgraded Martin Marietta Materials from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. 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. Finally, Wolfe Research cut Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research report on Friday, March 8th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Martin Marietta Materials has a consensus rating of “Moderate Buy” and an average price target of $588.69.

Insider Activity

In other news, CEO C Howard Nye sold 15,000 shares of the firm’s stock in a transaction 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 owns 134,640 shares in the company, valued at $81,357,566.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO C Howard Nye sold 15,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $604.26, for a total transaction of $9,063,900.00. Following the completion of the transaction, the chief executive officer now owns 134,640 shares of the company’s stock, valued at $81,357,566.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sue W. Cole sold 1,724 shares of Martin Marietta Materials stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $543.48, for a total value of $936,959.52. Following the sale, the director now directly owns 19,793 shares in the company, valued at $10,757,099.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,724 shares of company stock valued at $16,033,760. 0.59% of the stock is owned by company insiders.

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.