Zacks Research Has Negative Outlook of MLM FY2024 Earnings

Martin Marietta Materials, Inc. (NYSE:MLM) – Research analysts at Zacks Research reduced their FY2024 earnings per share (EPS) estimates for Martin Marietta Materials in a report issued on Wednesday, November 20th. Zacks Research analyst R. Department now anticipates that the construction company will post earnings per share of $17.57 for the year, down from their previous estimate of $18.87. The consensus estimate for Martin Marietta Materials’ current full-year earnings is $17.58 per share. Zacks Research also issued estimates for Martin Marietta Materials’ FY2025 earnings at $20.61 EPS and FY2026 earnings at $21.67 EPS.

MLM has been the subject of a number of other research reports. Stephens lowered their price objective on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. BNP Paribas raised Martin Marietta Materials to a “strong-buy” rating in a research report on Thursday, September 19th. JPMorgan Chase & Co. cut their price objective on shares of Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Barclays lifted their target price on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Finally, Jefferies Financial Group cut their price target on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $634.85.

Martin Marietta Materials Stock Performance

Shares of MLM opened at $596.93 on Monday. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. The stock has a market cap of $36.48 billion, a P/E ratio of 18.82, a P/E/G ratio of 4.05 and a beta of 0.90. The business’s 50 day moving average price is $566.69 and its 200-day moving average price is $556.18. Martin Marietta Materials has a 52 week low of $456.83 and a 52 week high of $633.23.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing the consensus estimate of $6.41 by ($0.50). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the firm earned $6.94 EPS. The company’s revenue was down 5.3% on a year-over-year basis.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be paid a $0.79 dividend. The ex-dividend date is Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.53%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 9.85%.

Institutional Trading of Martin Marietta Materials

A number of hedge funds have recently bought and sold shares of MLM. CreativeOne Wealth LLC bought a new stake in shares of Martin Marietta Materials during the 1st quarter valued at about $204,000. Interval Partners LP raised its position in Martin Marietta Materials by 117.4% in the first quarter. Interval Partners LP now owns 95,810 shares of the construction company’s stock worth $58,822,000 after acquiring an additional 51,749 shares during the period. Ancora Advisors LLC boosted its stake in shares of Martin Marietta Materials by 25.1% during the 1st quarter. Ancora Advisors LLC now owns 8,603 shares of the construction company’s stock worth $5,282,000 after acquiring an additional 1,726 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in shares of Martin Marietta Materials by 17.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 6,297 shares of the construction company’s stock worth $3,866,000 after acquiring an additional 952 shares during the last quarter. Finally, Tidal Investments LLC grew its position in shares of Martin Marietta Materials by 14.0% during the 1st quarter. Tidal Investments LLC now owns 3,632 shares of the construction company’s stock valued at $2,230,000 after acquiring an additional 445 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

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.