Martin Marietta Materials (NYSE:MLM) Releases Earnings Results, Misses Estimates By $0.65 EPS

Martin Marietta Materials (NYSE:MLM) issued its quarterly earnings data on Tuesday. The construction company reported $5.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.62 by ($0.65), Zacks reports. The firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%. Martin Marietta Materials updated its FY 2025 guidance to EPS.

Martin Marietta Materials Stock Up 1.0%

Shares of MLM stock traded up $6.11 during trading hours on Tuesday, reaching $625.41. 268,967 shares of the stock were exchanged, compared to its average volume of 448,296. The business’s fifty day moving average is $621.87 and its two-hundred day moving average is $580.77. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 1.21. Martin Marietta Materials has a 12-month low of $441.95 and a 12-month high of $665.18. The firm has a market capitalization of $37.72 billion, a P/E ratio of 34.72, a P/E/G ratio of 5.57 and a beta of 1.01.

Martin Marietta Materials Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd were paid a dividend of $0.83 per share. The ex-dividend date was Tuesday, September 2nd. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.79. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. Martin Marietta Materials’s payout ratio is currently 18.41%.

Insider Buying and Selling

In other Martin Marietta Materials news, Director Laree E. Perez sold 1,038 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $613.32, for a total value of $636,626.16. Following the transaction, the director directly owned 15,417 shares in the company, valued at $9,455,554.44. This represents a 6.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.69% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Martin Marietta Materials

Large investors have recently modified their holdings of the company. Osterweis Capital Management Inc. acquired a new stake in shares of Martin Marietta Materials during the second quarter worth $37,000. MUFG Securities EMEA plc purchased a new stake in Martin Marietta Materials during the 2nd quarter worth about $98,000. EverSource Wealth Advisors LLC increased its position in Martin Marietta Materials by 205.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 260 shares of the construction company’s stock worth $143,000 after purchasing an additional 175 shares in the last quarter. IHT Wealth Management LLC purchased a new stake in Martin Marietta Materials during the 2nd quarter worth about $212,000. Finally, Palisade Capital Management LP purchased a new stake in Martin Marietta Materials in the 2nd quarter valued at about $220,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on MLM shares. Wall Street Zen upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Wells Fargo & Company raised shares of Martin Marietta Materials to a “hold” rating in a report on Wednesday, October 8th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $525.00 price target (up previously from $515.00) on shares of Martin Marietta Materials in a report on Friday, August 8th. Morgan Stanley upped their target price on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. Finally, Raymond James Financial boosted their price target on shares of Martin Marietta Materials from $645.00 to $680.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Martin Marietta Materials presently has an average rating of “Moderate Buy” and a consensus price target of $628.56.

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.