Q1 2024 EPS Estimates for Martin Marietta Materials, Inc. Raised by Seaport Res Ptn (NYSE:MLM)

Martin Marietta Materials, Inc. (NYSE:MLM) – Equities research analysts at Seaport Res Ptn lifted their Q1 2024 earnings estimates for shares of Martin Marietta Materials in a report released on Thursday, April 25th. Seaport Res Ptn analyst R. Seth now anticipates that the construction company will post earnings per share of $1.87 for the quarter, up from their prior estimate of $1.56. The consensus estimate for Martin Marietta Materials’ current full-year earnings is $21.30 per share. Seaport Res Ptn also issued estimates for Martin Marietta Materials’ Q1 2025 earnings at $2.40 EPS, Q2 2025 earnings at $7.31 EPS, Q4 2025 earnings at $6.06 EPS, FY2025 earnings at $24.91 EPS and FY2026 earnings at $28.22 EPS.

A number of other research analysts have also issued reports on the stock. Morgan Stanley began coverage on shares of Martin Marietta Materials in a report on Monday, January 8th. They issued an “overweight” rating and a $595.00 price objective for the company. Stifel Nicolaus raised their price objective on shares of Martin Marietta Materials from $621.00 to $650.00 and gave the company a “buy” rating in a report on Monday, April 15th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $600.00 price objective (up previously from $530.00) on shares of Martin Marietta Materials in a report on Friday, March 22nd. Wolfe Research lowered shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a report on Friday, March 8th. Finally, StockNews.com lowered shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Martin Marietta Materials presently has an average rating of “Moderate Buy” and an average target price of $588.69.

Martin Marietta Materials Stock Down 2.5 %

Shares of NYSE MLM opened at $587.32 on Monday. The company has a 50 day simple moving average of $595.70 and a 200 day simple moving average of $519.51. The firm has a market cap of $36.25 billion, a PE ratio of 31.19, a price-to-earnings-growth ratio of 2.93 and a beta of 0.96. Martin Marietta Materials has a 1 year low of $361.23 and a 1 year high of $626.67. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.35 and a quick ratio of 2.50.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Wednesday, February 14th. The construction company reported $4.63 earnings per share for the quarter, beating analysts’ consensus estimates of $3.96 by $0.67. Martin Marietta Materials had a net margin of 17.25% and a return on equity of 15.77%. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same period last year, the company posted $3.04 EPS. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year.

Martin Marietta Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 4th were given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Friday, March 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is 15.72%.

Insider Transactions at Martin Marietta Materials

In other news, Director Sue W. Cole sold 1,724 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $543.48, for a total transaction of $936,959.52. Following the completion of the sale, the director now owns 19,793 shares of the company’s stock, valued at approximately $10,757,099.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Martin Marietta Materials news, CEO C Howard Nye sold 15,000 shares of Martin Marietta Materials stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $604.26, for a total transaction of $9,063,900.00. Following the transaction, the chief executive officer now directly owns 134,640 shares of the company’s stock, valued at approximately $81,357,566.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sue W. Cole sold 1,724 shares of Martin Marietta Materials stock in a transaction on Friday, February 16th. The stock was sold at an average price of $543.48, for a total transaction of $936,959.52. Following the transaction, the director now directly owns 19,793 shares in the company, valued at $10,757,099.64. The disclosure for this sale can be found here. Insiders sold a total of 26,724 shares of company stock valued at $16,033,760 in the last quarter. 0.59% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Martin Marietta Materials

A number of hedge funds have recently made changes to their positions in MLM. Handelsbanken Fonder AB raised its stake in shares of Martin Marietta Materials by 1.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 33,368 shares of the construction company’s stock worth $13,697,000 after purchasing an additional 350 shares during the period. Valeo Financial Advisors LLC raised its stake in Martin Marietta Materials by 19.6% in the 3rd quarter. Valeo Financial Advisors LLC now owns 1,235 shares of the construction company’s stock valued at $507,000 after acquiring an additional 202 shares during the period. Commonwealth Equity Services LLC raised its stake in Martin Marietta Materials by 1.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 7,900 shares of the construction company’s stock valued at $3,243,000 after acquiring an additional 97 shares during the period. Lederer & Associates Investment Counsel CA raised its stake in Martin Marietta Materials by 1.9% in the 3rd quarter. Lederer & Associates Investment Counsel CA now owns 3,816 shares of the construction company’s stock valued at $1,566,000 after acquiring an additional 72 shares during the period. Finally, First Pacific Financial bought a new stake in Martin Marietta Materials in the 3rd quarter valued at about $71,000. 95.04% of the stock is currently owned by institutional investors.

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.