Martin Marietta Materials, Inc. (NYSE:MLM – Get Free Report) declared a quarterly dividend on Thursday, August 13th. Shareholders of record on Tuesday, September 1st will be paid a dividend of 0.84 per share by the construction company on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a 1.2% increase from Martin Marietta Materials’s previous quarterly dividend of $0.83.
Martin Marietta Materials has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 9 years. Martin Marietta Materials has a payout ratio of 15.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Martin Marietta Materials to earn $21.66 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 15.3%.
Martin Marietta Materials Price Performance
Shares of MLM stock opened at $545.83 on Friday. Martin Marietta Materials has a 1 year low of $523.48 and a 1 year high of $710.97. The company has a current ratio of 1.41, a quick ratio of 0.73 and a debt-to-equity ratio of 0.44. The firm’s 50 day moving average is $573.43 and its 200-day moving average is $600.54. The firm has a market capitalization of $32.79 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 2.33 and a beta of 1.11.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on MLM shares. Royal Bank Of Canada lowered their target price on Martin Marietta Materials from $615.00 to $610.00 and set a “sector perform” rating for the company in a research note on Monday, August 3rd. Weiss Ratings upgraded Martin Marietta Materials from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, June 25th. JPMorgan Chase & Co. lowered their price objective on Martin Marietta Materials from $700.00 to $680.00 and set a “neutral” rating for the company in a research report on Friday, July 31st. Wall Street Zen cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Tuesday, July 28th. Finally, UBS Group cut their target price on shares of Martin Marietta Materials from $739.00 to $715.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Eleven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Martin Marietta Materials presently has an average rating of “Moderate Buy” and an average target price of $668.53.
Martin Marietta Materials Company Profile
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.
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