Martin Marietta Materials, Inc. (NYSE:MLM) Declares $0.83 Quarterly Dividend

Martin Marietta Materials, Inc. (NYSE:MLM) announced a quarterly dividend on Thursday, February 19th. Investors of record on Monday, March 2nd will be paid a dividend of 0.83 per share by the construction company on Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, March 2nd.

Martin Marietta Materials has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 9 years. Martin Marietta Materials has a dividend payout ratio of 15.3% meaning its dividend is sufficiently covered by earnings. 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 $3.32 annual dividend with an expected future payout ratio of 15.4%.

Martin Marietta Materials Stock Performance

NYSE:MLM traded up $0.84 during trading hours on Friday, reaching $676.24. The company had a trading volume of 344,760 shares, compared to its average volume of 473,297. The firm has a market cap of $40.78 billion, a price-to-earnings ratio of 35.95, a PEG ratio of 2.52 and a beta of 1.16. Martin Marietta Materials has a 52 week low of $441.95 and a 52 week high of $710.97. The company has a current ratio of 3.57, a quick ratio of 2.36 and a debt-to-equity ratio of 0.53. The firm’s 50 day moving average price is $650.47 and its 200-day moving average price is $628.29.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, February 11th. The construction company reported $4.62 EPS for the quarter, missing the consensus estimate of $4.81 by ($0.19). The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the company earned $4.79 earnings per share. On average, analysts forecast that Martin Marietta Materials will post 19.53 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Lido Advisors LLC raised its holdings in shares of Martin Marietta Materials by 0.8% during the 4th quarter. Lido Advisors LLC now owns 1,920 shares of the construction company’s stock worth $1,209,000 after acquiring an additional 15 shares during the period. Schear Investment Advisers LLC raised its position in Martin Marietta Materials by 0.6% in the third quarter. Schear Investment Advisers LLC now owns 2,731 shares of the construction company’s stock valued at $1,721,000 after purchasing an additional 16 shares during the period. Ashton Thomas Private Wealth LLC lifted its stake in Martin Marietta Materials by 3.9% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 424 shares of the construction company’s stock worth $264,000 after acquiring an additional 16 shares in the last quarter. Harbour Investments Inc. boosted its stake in shares of Martin Marietta Materials by 31.4% in the fourth quarter. Harbour Investments Inc. now owns 67 shares of the construction company’s stock valued at $42,000 after purchasing an additional 16 shares during the period. Finally, Parkside Financial Bank & Trust boosted its position in Martin Marietta Materials by 10.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 181 shares of the construction company’s stock valued at $99,000 after buying an additional 17 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

About Martin Marietta Materials

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.