Martin Marietta Materials (NYSE:MLM – Get Free Report) released its earnings results on Wednesday. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.41 by ($0.50), Briefing.com reports. Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the company posted $6.94 EPS. The business’s revenue was down 5.3% on a year-over-year basis. Martin Marietta Materials updated its FY 2024 guidance to EPS.
Martin Marietta Materials Price Performance
NYSE:MLM traded down $9.31 during trading hours on Thursday, reaching $595.54. 267,672 shares of the company were exchanged, compared to its average volume of 442,843. The company has a market capitalization of $36.40 billion, a P/E ratio of 18.12, a P/E/G ratio of 4.62 and a beta of 0.91. Martin Marietta Materials has a 1-year low of $404.93 and a 1-year high of $626.67. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.86 and a quick ratio of 0.94. The business has a 50 day moving average of $539.92 and a 200 day moving average of $556.12.
Martin Marietta Materials Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were given a $0.79 dividend. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.16 annualized dividend and a dividend yield of 0.53%. Martin Marietta Materials’s dividend payout ratio is presently 9.60%.
Wall Street Analyst Weigh In
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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.
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