Martin Marietta Materials (MLM) Scheduled to Post Quarterly Earnings on Tuesday

Martin Marietta Materials (NYSE:MLM) will 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.Individual interested in listening to the company’s earnings conference call can do so using this link.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Wednesday, February 14th. The construction company reported $4.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.96 by $0.67. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 8.9% compared to the same quarter last year. During the same period last year, the company posted $3.04 earnings per share. 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

Shares of NYSE:MLM opened at $584.32 on Tuesday. The firm has a market capitalization of $36.06 billion, a price-to-earnings ratio of 31.03, a price-to-earnings-growth ratio of 2.79 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. The business’s 50 day simple moving average is $588.42 and its 200-day simple moving average is $512.48. Martin Marietta Materials has a 12 month low of $343.79 and a 12 month high of $626.67.

Martin Marietta Materials Dividend Announcement

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 dividend of $0.74 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.96 annualized dividend and a yield of 0.51%. Martin Marietta Materials’s dividend payout ratio is presently 15.72%.

Insider Activity

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

Analysts Set New Price Targets

Several research firms have recently issued reports on MLM. Morgan Stanley began coverage on Martin Marietta Materials in a research note on Monday, January 8th. They set an “overweight” rating and a $595.00 price target for the company. The Goldman Sachs Group lifted their target price on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Citigroup raised their price objective on shares of Martin Marietta Materials from $635.00 to $708.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Wolfe Research lowered Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research note on Friday, March 8th. Finally, StockNews.com cut Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $588.69.

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.