Seaport Res Ptn Has Pessimistic Outlook of MLM Q3 Earnings

Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) - Analysts at Seaport Res Ptn reduced their Q3 2024 EPS estimates for Martin Marietta Materials in a research report issued to clients and investors on Monday, October 28th. Seaport Res Ptn analyst R. Seth now anticipates that the construction company will post earnings per share of $6.07 for the quarter, down from their prior forecast of $7.48. The consensus estimate for Martin Marietta Materials' current full-year earnings is $19.07 per share. Seaport Res Ptn also issued estimates for Martin Marietta Materials' Q4 2024 earnings at $4.93 EPS, Q1 2025 earnings at $2.31 EPS, Q2 2025 earnings at $5.91 EPS, Q3 2025 earnings at $7.48 EPS, FY2025 earnings at $20.99 EPS and FY2026 earnings at $24.14 EPS.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The construction company reported $4.76 EPS for the quarter, missing analysts' consensus estimates of $5.36 by ($0.60). Martin Marietta Materials had a net margin of 30.80% and a return on equity of 13.85%. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the previous year, the business earned $5.60 earnings per share. The firm's revenue was down 3.1% on a year-over-year basis.

Several other research analysts have also recently issued reports on MLM. Morgan Stanley raised their target price on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the stock an "overweight" rating in a report on Monday, August 26th. StockNews.com cut shares of Martin Marietta Materials from a "hold" rating to a "sell" rating in a report on Wednesday, September 25th. Loop Capital cut their target price on shares of Martin Marietta Materials from $630.00 to $615.00 and set a "buy" rating on the stock in a report on Tuesday, August 13th. Jefferies Financial Group cut their target price on shares of Martin Marietta Materials from $650.00 to $635.00 and set a "buy" rating on the stock in a report on Wednesday, October 9th. Finally, Barclays raised their target price on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the stock an "overweight" rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Martin Marietta Materials presently has a consensus rating of "Moderate Buy" and a consensus target price of $621.50.

Martin Marietta Materials Trading Up 3.6 %

Shares of Martin Marietta Materials stock traded up $20.97 on Wednesday, hitting $604.85. The stock had a trading volume of 917,421 shares, compared to its average volume of 443,677. The company has a quick ratio of 0.94, a current ratio of 1.86 and a debt-to-equity ratio of 0.45. Martin Marietta Materials has a one year low of $404.93 and a one year high of $626.67. The stock has a market cap of $36.97 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 4.62 and a beta of 0.91. The stock's 50-day simple moving average is $538.61 and its two-hundred day simple moving average is $555.78.

Martin Marietta Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.79 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $3.16 annualized dividend and a yield of 0.52%. This is a positive change from Martin Marietta Materials's previous quarterly dividend of $0.74. Martin Marietta Materials's dividend payout ratio (DPR) is currently 9.60%.

Hedge Funds Weigh In On Martin Marietta Materials

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. lifted its position in Martin Marietta Materials by 411.1% during the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company's stock valued at $25,000 after buying an additional 37 shares during the period. Asset Dedication LLC lifted its position in Martin Marietta Materials by 1,300.0% during the third quarter. Asset Dedication LLC now owns 56 shares of the construction company's stock valued at $30,000 after buying an additional 52 shares during the period. Redmont Wealth Advisors LLC purchased a new position in shares of Martin Marietta Materials in the 1st quarter worth about $31,000. Fortitude Family Office LLC raised its position in shares of Martin Marietta Materials by 186.4% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company's stock worth $34,000 after purchasing an additional 41 shares during the last quarter. Finally, Pathway Financial Advisers LLC purchased a new position in shares of Martin Marietta Materials in the 1st quarter worth about $41,000. Hedge funds and other institutional investors own 95.04% of the company's stock.

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.