Q4 2024 Earnings Estimate for Martin Marietta Materials, Inc. Issued By Seaport Res Ptn (NYSE:MLM)

Martin Marietta Materials, Inc. (NYSE:MLM) – Investment analysts at Seaport Res Ptn lowered their Q4 2024 EPS estimates for Martin Marietta Materials in a research note issued on Monday, August 5th. Seaport Res Ptn analyst R. Seth now forecasts that the construction company will earn $5.73 per share for the quarter, down from their previous forecast of $5.81. The consensus estimate for Martin Marietta Materials’ current full-year earnings is $22.86 per share.

Several other research analysts have also issued reports on the stock. The Goldman Sachs Group increased 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. Loop Capital dropped their price objective on shares of Martin Marietta Materials from $710.00 to $630.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Stifel Nicolaus dropped their price objective on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. StockNews.com lowered shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Finally, Jefferies Financial Group raised their price objective on shares of Martin Marietta Materials from $660.00 to $665.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $628.91.

Martin Marietta Materials Stock Performance

NYSE:MLM opened at $538.98 on Wednesday. Martin Marietta Materials has a 12-month low of $389.90 and a 12-month high of $626.67. The company has a quick ratio of 2.41, a current ratio of 3.16 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $33.22 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 3.12 and a beta of 0.91. The firm has a 50-day moving average price of $554.20 and a 200 day moving average price of $568.52.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.14 by ($1.38). Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same period last year, the company earned $5.60 EPS. The business’s revenue for the quarter was down 3.1% on a year-over-year basis.

Martin Marietta Materials Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were paid a dividend of $0.74 per share. The ex-dividend date was Monday, June 3rd. This represents a $2.96 annualized dividend and a dividend yield of 0.55%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 8.77%.

Institutional Trading of Martin Marietta Materials

Several hedge funds have recently modified their holdings of the stock. Prosperity Consulting Group LLC grew its stake in shares of Martin Marietta Materials by 26.0% during the second quarter. Prosperity Consulting Group LLC now owns 702 shares of the construction company’s stock valued at $380,000 after purchasing an additional 145 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of Martin Marietta Materials by 8.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 13,516 shares of the construction company’s stock worth $7,323,000 after purchasing an additional 1,098 shares in the last quarter. Wealthspire Advisors LLC boosted its position in shares of Martin Marietta Materials by 3.4% during the second quarter. Wealthspire Advisors LLC now owns 1,088 shares of the construction company’s stock worth $589,000 after purchasing an additional 36 shares in the last quarter. William Blair Investment Management LLC boosted its position in shares of Martin Marietta Materials by 1.0% during the second quarter. William Blair Investment Management LLC now owns 374,811 shares of the construction company’s stock worth $203,073,000 after purchasing an additional 3,598 shares in the last quarter. Finally, Thoroughbred Financial Services LLC bought a new position in shares of Martin Marietta Materials during the second quarter worth $328,000. 95.04% of the stock is 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.