Martin Marietta Materials, Inc. (MLM) to Issue Quarterly Dividend of $0.83 on June 30th

Martin Marietta Materials, Inc. (NYSE:MLM) declared a quarterly dividend on Thursday, May 14th. Investors of record on Monday, June 1st will be given a dividend of 0.83 per share by the construction company on Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Monday, June 1st.

Martin Marietta Materials has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 9 years. Martin Marietta Materials has a payout ratio of 15.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Martin Marietta Materials to earn $22.34 per share next year, which means the company should continue to be able to cover its $3.32 annual dividend with an expected future payout ratio of 14.9%.

Martin Marietta Materials Stock Down 2.9%

MLM opened at $558.82 on Friday. Martin Marietta Materials has a twelve month low of $532.80 and a twelve month high of $710.97. The company has a quick ratio of 1.11, a current ratio of 2.28 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average price of $599.57 and a 200 day moving average price of $625.39. The company has a market cap of $33.56 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 2.08 and a beta of 1.13.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.15. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the firm earned $1.90 EPS. The company’s revenue for the quarter was up 17.2% on a year-over-year basis. Sell-side analysts expect that Martin Marietta Materials will post 19.32 earnings per share for the current fiscal year.

Institutional Trading of Martin Marietta Materials

Hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. grew its stake in shares of Martin Marietta Materials by 51.8% in the 4th quarter. Victory Capital Management Inc. now owns 2,448,928 shares of the construction company’s stock valued at $1,524,853,000 after buying an additional 836,120 shares during the period. Norges Bank purchased a new stake in shares of Martin Marietta Materials in the 4th quarter valued at approximately $354,681,000. Bank of America Corp DE grew its stake in shares of Martin Marietta Materials by 31.9% in the 2nd quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock valued at $1,284,938,000 after buying an additional 565,856 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Martin Marietta Materials by 241.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 303,031 shares of the construction company’s stock valued at $188,686,000 after buying an additional 214,270 shares during the period. Finally, Interval Partners LP purchased a new stake in shares of Martin Marietta Materials in the 4th quarter valued at approximately $128,996,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

About Martin Marietta Materials

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value?added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready?mixed concrete and related materials and services.