Martin Marietta Materials, Inc. (MLM) to Issue Quarterly Dividend of $0.79 on March 31st

Martin Marietta Materials, Inc. (NYSE:MLM) announced a quarterly dividend on Thursday, February 20th, RTT News reports. Investors of record on Monday, March 3rd will be paid a dividend of 0.79 per share by the construction company on Monday, March 31st. This represents a $3.16 annualized dividend and a yield of 0.64%. The ex-dividend date is Monday, March 3rd.

Martin Marietta Materials has increased its dividend by an average of 9.0% annually over the last three years. Martin Marietta Materials has a dividend payout ratio of 14.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Martin Marietta Materials to earn $21.61 per share next year, which means the company should continue to be able to cover its $3.16 annual dividend with an expected future payout ratio of 14.6%.

Martin Marietta Materials Stock Performance

Shares of NYSE MLM opened at $489.94 on Friday. The firm’s 50-day moving average price is $531.34 and its 200-day moving average price is $547.49. Martin Marietta Materials has a 52-week low of $482.72 and a 52-week high of $633.23. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. The company has a market cap of $29.95 billion, a PE ratio of 15.15, a PEG ratio of 4.45 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, topping the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. As a group, analysts anticipate that Martin Marietta Materials will post 19.53 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wolfe Research upgraded shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price objective on the stock in a research note on Wednesday, January 8th. Citigroup decreased their target price on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Stephens decreased their target price on shares of Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Hsbc Global Res upgraded shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Finally, Truist Financial decreased their target price on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $639.43.

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.