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

Martin Marietta Materials, Inc. (NYSE:MLM) announced a quarterly dividend on Thursday, February 20th, RTT News reports. Shareholders 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 dividend on an annualized basis and a yield of 0.63%.

Martin Marietta Materials has increased its dividend payment by an average of 9.0% per year over the last three years. Martin Marietta Materials has a payout ratio of 13.9% indicating that its dividend is sufficiently covered by earnings. 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 Martin Marietta Materials stock traded down $15.48 during mid-day trading on Thursday, hitting $505.47. 566,196 shares of the stock were exchanged, compared to its average volume of 437,970. The company has a market capitalization of $30.89 billion, a P/E ratio of 15.63, a P/E/G ratio of 4.69 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50. The company has a 50-day simple moving average of $532.38 and a 200 day simple moving average of $547.79. 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 issued its earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. Sell-side analysts anticipate that Martin Marietta Materials will post 19.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MLM has been the topic of a number of recent analyst reports. Morgan Stanley reduced their target price on Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Raymond James lowered their target price on shares of Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. BNP Paribas cut shares of Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Hsbc Global Res upgraded shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Finally, Loop Capital cut their target price on shares of 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 equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus 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.