Martin Marietta Materials, Inc. (NYSE:MLM – Get Rating) announced a quarterly dividend on Thursday, May 12th, RTT News reports. Shareholders of record on Wednesday, June 1st will be given a dividend of 0.61 per share by the construction company on Thursday, June 30th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 0.74%.
Martin Marietta Materials has increased its dividend payment by an average of 8.7% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. Martin Marietta Materials has a dividend payout ratio of 14.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Martin Marietta Materials to earn $16.92 per share next year, which means the company should continue to be able to cover its $2.44 annual dividend with an expected future payout ratio of 14.4%.
Shares of NYSE MLM traded up $6.01 during midday trading on Thursday, reaching $327.57. 481,878 shares of the company were exchanged, compared to its average volume of 476,689. The stock’s 50-day moving average price is $370.11 and its 200-day moving average price is $393.86. The stock has a market cap of $20.43 billion, a P/E ratio of 30.57, a PEG ratio of 1.40 and a beta of 0.79. Martin Marietta Materials has a one year low of $316.73 and a one year high of $446.46. The company has a quick ratio of 1.69, a current ratio of 2.79 and a debt-to-equity ratio of 0.79.
Several research firms have recently commented on MLM. StockNews.com downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Thursday. DA Davidson reduced their price objective on shares of Martin Marietta Materials from $465.00 to $450.00 in a research report on Monday, February 14th. TheStreet downgraded shares of Martin Marietta Materials from a “b” rating to a “c+” rating in a research report on Tuesday. Morgan Stanley reduced their price objective on shares of Martin Marietta Materials from $470.00 to $441.00 and set an “overweight” rating for the company in a research report on Monday, April 18th. Finally, Zacks Investment Research raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating and set a $396.00 price objective for the company in a research report on Thursday, May 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $439.00.
Several hedge funds have recently made changes to their positions in MLM. Sequoia Financial Advisors LLC purchased a new stake in shares of Martin Marietta Materials during the 4th quarter valued at approximately $400,000. Cetera Investment Advisers lifted its stake in shares of Martin Marietta Materials by 10.5% during the 4th quarter. Cetera Investment Advisers now owns 842 shares of the construction company’s stock valued at $371,000 after buying an additional 80 shares in the last quarter. MML Investors Services LLC lifted its stake in shares of Martin Marietta Materials by 3.5% during the 4th quarter. MML Investors Services LLC now owns 1,644 shares of the construction company’s stock valued at $724,000 after buying an additional 56 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Martin Marietta Materials during the 4th quarter valued at approximately $32,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Martin Marietta Materials during the 4th quarter valued at approximately $344,000. Institutional investors own 93.49% of the company’s stock.
Martin Marietta Materials Company Profile (Get Rating)
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.
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