Martin Marietta Materials, Inc. (NYSE:MLM) announced a quarterly dividend on Thursday, November 16th, RTT News reports. Investors of record on Friday, December 1st will be paid a dividend of 0.44 per share by the construction company on Wednesday, November 29th. This represents a $1.76 annualized dividend and a yield of 0.85%.
Martin Marietta Materials has decreased its dividend by an average of 8.6% per year over the last three years. Martin Marietta Materials has a payout ratio of 25.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Martin Marietta Materials to earn $8.70 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 20.2%.
Shares of Martin Marietta Materials (MLM) traded down $5.98 on Thursday, reaching $206.18. The company had a trading volume of 641,400 shares, compared to its average volume of 647,503. Martin Marietta Materials has a 52 week low of $191.09 and a 52 week high of $244.32. The stock has a market cap of $13,210.00, a price-to-earnings ratio of 30.93, a P/E/G ratio of 2.21 and a beta of 1.14. The company has a current ratio of 2.73, a quick ratio of 1.50 and a debt-to-equity ratio of 0.38.
A number of research analysts have weighed in on the company. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $228.00 target price on shares of Martin Marietta Materials in a report on Friday, October 27th. Jefferies Group LLC set a $166.00 target price on Martin Marietta Materials and gave the company a “hold” rating in a report on Monday, August 21st. Bank of America Corporation reduced their target price on Martin Marietta Materials from $233.00 to $229.00 and set a “neutral” rating for the company in a report on Thursday, October 19th. Zacks Investment Research lowered Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $260.00 target price (down previously from $270.00) on shares of Martin Marietta Materials in a report on Monday, October 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. Martin Marietta Materials presently has an average rating of “Hold” and an average target price of $242.43.
In other Martin Marietta Materials news, Director John J. Koraleski purchased 500 shares of the company’s stock in a transaction dated Friday, August 18th. The stock was purchased at an average price of $198.37 per share, for a total transaction of $99,185.00. Following the transaction, the director now owns 1,439 shares in the company, valued at approximately $285,454.43. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 8.45% of the company’s stock.
Martin Marietta Materials Company Profile
Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.
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