Martin Marietta Materials (MLM) Set to Announce Quarterly Earnings on Tuesday

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

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

Shares of MLM opened at $604.99 on Friday. Martin Marietta Materials has a 52-week low of $345.03 and a 52-week high of $626.67. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.50 and a current ratio of 3.35. The business’s 50 day moving average price is $593.37 and its two-hundred day moving average price is $516.59. The firm has a market cap of $37.34 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 2.89 and a beta of 0.96.

Martin Marietta Materials Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on MLM shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $600.00 target price (up from $530.00) on shares of Martin Marietta Materials in a research report on Friday, March 22nd. The Goldman Sachs Group upped their price target on Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Stifel Nicolaus upped their price target on Martin Marietta Materials from $621.00 to $650.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Truist Financial upped their price target on Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Finally, Stephens upped their price objective on Martin Marietta Materials from $575.00 to $605.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $588.69.

Insider Transactions at Martin Marietta Materials

In other news, EVP Roselyn R. Bar sold 10,000 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $603.29, for a total transaction of $6,032,900.00. Following the completion of the transaction, the executive vice president now owns 59,970 shares in the company, valued at approximately $36,179,301.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Sue W. Cole sold 1,724 shares of the stock in a transaction 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 completion of the transaction, the director now owns 19,793 shares in the company, valued at approximately $10,757,099.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Roselyn R. Bar sold 10,000 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $603.29, for a total value of $6,032,900.00. Following the transaction, the executive vice president now owns 59,970 shares of the company’s stock, valued at approximately $36,179,301.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,724 shares of company stock worth $16,033,760. 0.61% of the stock is owned by company insiders.

Martin Marietta Materials Company Profile

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.