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

Martin Marietta Materials, Inc. (NYSE:MLM) – Equities researchers at Seaport Res Ptn raised their Q1 2024 earnings estimates for shares of Martin Marietta Materials in a report issued on Thursday, April 25th. Seaport Res Ptn analyst R. Seth now forecasts that the construction company will post earnings per share of $1.87 for the quarter, up from their previous forecast 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 analysts also recently commented on MLM. Stifel Nicolaus boosted their price target on shares of Martin Marietta Materials from $621.00 to $650.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Wolfe Research downgraded shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research report on Friday, March 8th. The Goldman Sachs Group boosted their price target on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. restated a “neutral” rating and set a $600.00 price target (up from $530.00) on shares of Martin Marietta Materials in a research report on Friday, March 22nd. Finally, HSBC raised shares of Martin Marietta Materials from a “reduce” rating to a “hold” rating and lifted their price objective for the stock from $376.00 to $543.00 in a research note on Thursday, February 22nd. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $588.69.

Martin Marietta Materials Stock Down 2.5 %

MLM stock opened at $587.32 on Monday. Martin Marietta Materials has a 52 week low of $361.23 and a 52 week high of $626.67. The company has a market capitalization of $36.25 billion, a price-to-earnings ratio of 31.19, a price-to-earnings-growth ratio of 2.93 and a beta of 0.96. The firm’s 50-day moving average is $595.70 and its two-hundred day moving average is $519.51. The company has a current ratio of 3.35, a quick ratio of 2.50 and a debt-to-equity ratio of 0.49.

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

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 4th were given a $0.74 dividend. 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 currently 15.72%.

Insider Transactions at Martin Marietta Materials

In other news, CEO C Howard Nye sold 15,000 shares of Martin Marietta Materials stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $604.26, for a total value 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 $81,357,566.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related 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 directly owns 19,793 shares in the company, valued at $10,757,099.64. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO C Howard Nye sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $604.26, for a total transaction of $9,063,900.00. Following the sale, the chief executive officer now owns 134,640 shares of the company’s stock, valued at $81,357,566.40. The disclosure for this sale can be found here. Insiders have sold a total of 26,724 shares of company stock valued at $16,033,760 over the last ninety days. Corporate insiders own 0.59% of the company’s stock.

Institutional Trading of Martin Marietta Materials

Several institutional investors have recently made changes to their positions in MLM. Ables Iannone Moore & Associates Inc. acquired a new stake in Martin Marietta Materials in the fourth quarter valued at approximately $25,000. Pinnacle Bancorp Inc. acquired a new stake in shares of Martin Marietta Materials in the fourth quarter worth $26,000. Riverview Trust Co acquired a new stake in shares of Martin Marietta Materials in the first quarter worth $26,000. MV Capital Management Inc. lifted its stake in shares of Martin Marietta Materials by 144.4% in the third quarter. MV Capital Management Inc. now owns 66 shares of the construction company’s stock worth $27,000 after buying an additional 39 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Martin Marietta Materials in the fourth quarter worth $27,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

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.