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

Martin Marietta Materials, Inc. (NYSE:MLM - Get Free Report) declared a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Investors of record on Monday, December 2nd will be paid a dividend of 0.79 per share by the construction company on Tuesday, December 31st. This represents a $3.16 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Monday, December 2nd.

Martin Marietta Materials has raised its dividend by an average of 7.7% annually over the last three years. Martin Marietta Materials has a payout ratio of 14.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Martin Marietta Materials to earn $20.79 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 15.2%.

Martin Marietta Materials Stock Up 0.4 %

NYSE:MLM traded up $2.42 during mid-day trading on Friday, hitting $619.58. 402,853 shares of the company's stock were exchanged, compared to its average volume of 466,622. The company has a market cap of $37.87 billion, a PE ratio of 19.31, a P/E/G ratio of 4.12 and a beta of 0.90. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. Martin Marietta Materials has a one year low of $448.73 and a one year high of $633.23. The business has a fifty day moving average price of $549.06 and a 200 day moving average price of $556.56.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing analysts' consensus estimates of $6.41 by ($0.50). The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The business's revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.94 earnings per share. Equities analysts predict that Martin Marietta Materials will post 17.84 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on MLM shares. BNP Paribas upgraded shares of Martin Marietta Materials to a "strong-buy" rating in a research note on Thursday, September 19th. Citigroup dropped their target price on shares of Martin Marietta Materials from $658.00 to $646.00 and set a "buy" rating on the stock in a research note on Monday, August 12th. Jefferies Financial Group reduced their price target on shares of Martin Marietta Materials from $650.00 to $635.00 and set a "buy" rating for the company in a research report on Wednesday, October 9th. JPMorgan Chase & Co. lowered their price objective on Martin Marietta Materials from $560.00 to $515.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 9th. Finally, Stephens reduced their target price on Martin Marietta Materials from $650.00 to $610.00 and set an "overweight" rating for the company in a report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $634.85.

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.