Martin Marietta Materials, Inc. (NYSE:MLM) Declares $0.79 Quarterly Dividend

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 given a dividend of 0.79 per share by the construction company on Monday, March 31st. This represents a $3.16 dividend on an annualized basis and a yield of 0.63%.

Martin Marietta Materials has increased its dividend by an average of 9.0% annually over the last three years. Martin Marietta Materials has a payout ratio of 13.9% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 3.0 %

NYSE MLM opened at $505.47 on Friday. The stock has a 50-day simple moving average of $531.34 and a 200 day simple moving average of $547.49. The company has a market capitalization of $30.89 billion, a PE ratio of 15.63, a P/E/G ratio of 4.58 and a beta of 0.91. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. Martin Marietta Materials has a 12 month low of $482.72 and a 12 month high of $633.23.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. Research analysts forecast that Martin Marietta Materials will post 19.53 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MLM. HSBC raised Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 target price for the company in a research note on Wednesday, December 11th. BNP Paribas cut Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Morgan Stanley decreased their target price on Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Barclays reduced their price objective on Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Finally, Loop Capital reduced their price objective on Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and a consensus target price of $639.43.

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.